Magnolia Oil & Gas Co. (NYSE:MGY) Shares Acquired by Oliver Luxxe Assets LLC

Oliver Luxxe Assets LLC raised its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 2.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,618 shares of the company’s stock after acquiring an additional 1,179 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in Magnolia Oil & Gas were worth $1,158,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Brown Advisory Inc. acquired a new position in shares of Magnolia Oil & Gas during the fourth quarter valued at approximately $694,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Magnolia Oil & Gas by 9.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,041,390 shares of the company’s stock valued at $64,751,000 after acquiring an additional 274,908 shares during the last quarter. Corient Private Wealth LLC raised its holdings in shares of Magnolia Oil & Gas by 86.5% during the fourth quarter. Corient Private Wealth LLC now owns 338,540 shares of the company’s stock valued at $7,208,000 after acquiring an additional 156,977 shares during the last quarter. Vest Financial LLC grew its position in shares of Magnolia Oil & Gas by 51.4% in the fourth quarter. Vest Financial LLC now owns 606,277 shares of the company’s stock valued at $12,908,000 after purchasing an additional 205,924 shares in the last quarter. Finally, Wasatch Advisors LP grew its position in shares of Magnolia Oil & Gas by 2.2% in the fourth quarter. Wasatch Advisors LP now owns 3,679,262 shares of the company’s stock valued at $78,331,000 after purchasing an additional 77,733 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MGY. Mizuho upped their price target on Magnolia Oil & Gas from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Monday, May 13th. Truist Financial increased their price objective on Magnolia Oil & Gas from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Piper Sandler reiterated a “neutral” rating and issued a $29.00 price objective on shares of Magnolia Oil & Gas in a research report on Friday, April 19th. Wells Fargo & Company raised their price target on Magnolia Oil & Gas from $23.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. Finally, The Goldman Sachs Group raised their price target on Magnolia Oil & Gas from $24.50 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, March 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Magnolia Oil & Gas presently has an average rating of “Hold” and a consensus target price of $28.11.

Insider Buying and Selling at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, Director John B. Walker sold 12,000,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $25.58, for a total transaction of $306,960,000.00. Following the transaction, the director now owns 4,164,961 shares of the company’s stock, valued at $106,539,702.38. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.40% of the stock is owned by insiders.

Magnolia Oil & Gas Stock Up 0.6 %

Shares of NYSE MGY traded up $0.14 during mid-day trading on Monday, hitting $25.48. The company had a trading volume of 613,801 shares, compared to its average volume of 2,880,080. Magnolia Oil & Gas Co. has a 1-year low of $19.16 and a 1-year high of $27.33. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.71 and a quick ratio of 1.71. The company has a market capitalization of $5.17 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 1.42 and a beta of 2.02. The business’s 50-day simple moving average is $25.22 and its 200 day simple moving average is $23.55.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.05. Magnolia Oil & Gas had a return on equity of 20.41% and a net margin of 30.46%. The company had revenue of $319.42 million for the quarter, compared to analysts’ expectations of $308.21 million. On average, analysts predict that Magnolia Oil & Gas Co. will post 2.25 earnings per share for the current year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date was Friday, May 10th. Magnolia Oil & Gas’s dividend payout ratio is presently 25.87%.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corporation, an independent oil and natural gas company, engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. Its properties are located primarily in Karnes County and the Giddings area in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.