SG Americas Securities LLC Purchases 88,841 Shares of Magnolia Oil & Gas Corp $MGY

SG Americas Securities LLC grew its position in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 391.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 111,518 shares of the company’s stock after acquiring an additional 88,841 shares during the period. SG Americas Securities LLC owned about 0.06% of Magnolia Oil & Gas worth $2,662,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Magnolia Oil & Gas by 236.2% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,190 shares of the company’s stock worth $27,000 after buying an additional 836 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Magnolia Oil & Gas in the 2nd quarter worth approximately $30,000. Mather Group LLC. purchased a new position in shares of Magnolia Oil & Gas in the 3rd quarter valued at approximately $31,000. EverSource Wealth Advisors LLC boosted its position in shares of Magnolia Oil & Gas by 165.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock valued at $31,000 after purchasing an additional 864 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in shares of Magnolia Oil & Gas by 90.5% during the second quarter. Geneos Wealth Management Inc. now owns 2,212 shares of the company’s stock valued at $50,000 after purchasing an additional 1,051 shares in the last quarter. 94.73% of the stock is owned by institutional investors.

Magnolia Oil & Gas Stock Performance

Shares of MGY stock opened at $22.49 on Wednesday. The company has a market capitalization of $4.24 billion, a price-to-earnings ratio of 12.56, a price-to-earnings-growth ratio of 3.28 and a beta of 0.92. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.47. Magnolia Oil & Gas Corp has a one year low of $19.09 and a one year high of $26.84. The company’s 50-day moving average is $22.41 and its 200 day moving average is $23.21.

Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results on Wednesday, October 29th. The company reported $0.41 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.41. Magnolia Oil & Gas had a net margin of 25.90% and a return on equity of 18.10%. The business had revenue of $324.94 million during the quarter, compared to analysts’ expectations of $322.52 million. During the same period in the previous year, the company earned $0.52 earnings per share. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. Sell-side analysts expect that Magnolia Oil & Gas Corp will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, November 10th were given a $0.15 dividend. The ex-dividend date of this dividend was Monday, November 10th. This represents a $0.60 annualized dividend and a yield of 2.7%. Magnolia Oil & Gas’s dividend payout ratio is 33.52%.

Analysts Set New Price Targets

A number of research firms have issued reports on MGY. KeyCorp set a $29.00 price objective on Magnolia Oil & Gas and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Piper Sandler decreased their price target on shares of Magnolia Oil & Gas from $25.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, November 18th. UBS Group reissued a “buy” rating and set a $29.00 price objective on shares of Magnolia Oil & Gas in a research note on Friday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Magnolia Oil & Gas in a research note on Wednesday, October 8th. Finally, Mizuho set a $29.00 target price on shares of Magnolia Oil & Gas in a report on Friday, December 12th. Six equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $25.92.

Magnolia Oil & Gas Profile

Magnolia Oil & Gas Corp (NYSE: MGY) is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties.

The company’s core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs).