Cwm LLC Acquires 617 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Cwm LLC lifted its holdings in Magnolia Oil & Gas Co. (NYSE:MGY – Get Rating) by 60.6% during the third quarter, HoldingsChannel reports. The firm owned 1,635 shares of the company’s stock after purchasing an additional 617 shares during the period. Cwm LLC’s holdings in Magnolia Oil & Gas were worth $32,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in MGY. Ten Capital Wealth Advisors LLC bought a new position in shares of Magnolia Oil & Gas in the second quarter worth about $28,000. Exchange Traded Concepts LLC bought a new position in Magnolia Oil & Gas during the third quarter valued at about $56,000. Assetmark Inc. increased its stake in Magnolia Oil & Gas by 311.4% during the second quarter. Assetmark Inc. now owns 2,880 shares of the company’s stock valued at $60,000 after acquiring an additional 2,180 shares during the period. National Bank of Canada FI bought a new position in Magnolia Oil & Gas during the second quarter valued at about $73,000. Finally, Captrust Financial Advisors increased its stake in Magnolia Oil & Gas by 42.4% during the first quarter. Captrust Financial Advisors now owns 3,608 shares of the company’s stock valued at $85,000 after acquiring an additional 1,075 shares during the period. 98.60% of the stock is currently owned by institutional investors.

Magnolia Oil & Gas Stock Up 1.2 %

Shares of MGY opened at $23.82 on Friday. The company has a market capitalization of $5.15 billion, a P/E ratio of 5.50 and a beta of 2.12. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.63 and a quick ratio of 2.63. Magnolia Oil & Gas Co. has a one year low of $18.01 and a one year high of $30.31. The business’s 50 day simple moving average is $24.02 and its 200-day simple moving average is $23.30.

Magnolia Oil & Gas (NYSE:MGY – Get Rating) last announced its earnings results on Tuesday, November 1st. The company reported $1.29 EPS for the quarter, topping the consensus estimate of $1.18 by $0.11. The business had revenue of $482.96 million for the quarter, compared to the consensus estimate of $454.87 million. Magnolia Oil & Gas had a return on equity of 66.39% and a net margin of 48.42%. As a group, sell-side analysts predict that Magnolia Oil & Gas Co. will post 4.48 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 1st. Stockholders of record on Monday, November 7th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.68%. The ex-dividend date was Friday, November 4th. Magnolia Oil & Gas’s payout ratio is currently 9.24%.

Analysts Set New Price Targets

MGY has been the topic of several research reports. Mizuho initiated coverage on Magnolia Oil & Gas in a research note on Monday, January 9th. They set a “buy” rating and a $32.00 price target on the stock. KeyCorp boosted their price target on Magnolia Oil & Gas from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, November 3rd. Piper Sandler lowered their price objective on Magnolia Oil & Gas from $36.00 to $35.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 11th. Finally, TheStreet lowered Magnolia Oil & Gas from a “b-” rating to a “c+” rating in a research note on Wednesday, December 7th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $31.25.

Magnolia Oil & Gas Profile

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Magnolia Oil & Gas Corporation 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 Field in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.