Magnolia Oil & Gas Co. (NYSE:MGY) Stock Position Raised by Dark Forest Capital Management LP

Dark Forest Capital Management LP raised its stake in Magnolia Oil & Gas Co. (NYSE:MGY) by 255.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 29,914 shares of the company’s stock after buying an additional 21,499 shares during the quarter. Dark Forest Capital Management LP’s holdings in Magnolia Oil & Gas were worth $655,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in MGY. Tucker Asset Management LLC acquired a new position in Magnolia Oil & Gas in the 1st quarter valued at approximately $27,000. CI Investments Inc. acquired a new position in Magnolia Oil & Gas in the 4th quarter valued at approximately $31,000. Parallel Advisors LLC increased its stake in Magnolia Oil & Gas by 246.3% in the 1st quarter. Parallel Advisors LLC now owns 2,493 shares of the company’s stock valued at $55,000 after buying an additional 1,773 shares during the period. Quadrant Capital Group LLC increased its stake in shares of Magnolia Oil & Gas by 14.5% during the 4th quarter. Quadrant Capital Group LLC now owns 3,539 shares of the company’s stock worth $83,000 after purchasing an additional 448 shares during the last quarter. Finally, Captrust Financial Advisors increased its stake in shares of Magnolia Oil & Gas by 42.4% during the 1st quarter. Captrust Financial Advisors now owns 3,608 shares of the company’s stock worth $85,000 after purchasing an additional 1,075 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Performance

NYSE:MGY traded up $0.63 during midday trading on Friday, reaching $23.43. The stock had a trading volume of 161,903 shares, compared to its average volume of 1,975,109. Magnolia Oil & Gas Co. has a 1-year low of $18.17 and a 1-year high of $27.57. The firm’s fifty day simple moving average is $21.77 and its 200-day simple moving average is $21.27. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.10 and a quick ratio of 3.10. The stock has a market capitalization of $4.91 billion, a P/E ratio of 6.57 and a beta of 2.12.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings results on Tuesday, August 1st. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Magnolia Oil & Gas had a net margin of 46.81% and a return on equity of 35.63%. The firm had revenue of $280.29 million during the quarter, compared to the consensus estimate of $291.74 million. On average, equities research analysts forecast that Magnolia Oil & Gas Co. will post 2.09 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Thursday, August 10th will be issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Wednesday, August 9th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 13.26%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. SpectralCast restated a “maintains” rating on shares of Magnolia Oil & Gas in a research note on Monday, May 22nd. Mizuho lowered shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $28.00 to $25.00 in a research note on Wednesday, August 16th. Truist Financial dropped their price target on shares of Magnolia Oil & Gas from $33.00 to $27.00 in a research note on Monday, July 24th. Citigroup dropped their price target on shares of Magnolia Oil & Gas from $25.00 to $22.00 in a research note on Sunday, May 21st. Finally, Piper Sandler dropped their price target on shares of Magnolia Oil & Gas from $33.00 to $29.00 in a research note on Tuesday, June 13th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $27.00.

Magnolia Oil & Gas Company Profile

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 area in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.