Commonwealth Equity Services LLC Has $2.61 Million Stock Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Commonwealth Equity Services LLC decreased its position in Magnolia Oil & Gas Co. (NYSE:MGY) by 7.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 103,121 shares of the company’s stock after selling 8,215 shares during the period. Commonwealth Equity Services LLC owned approximately 0.05% of Magnolia Oil & Gas worth $2,613,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Signaturefd LLC boosted its stake in Magnolia Oil & Gas by 14.5% in the 2nd quarter. Signaturefd LLC now owns 11,112 shares of the company’s stock worth $282,000 after purchasing an additional 1,409 shares during the period. F M Investments LLC acquired a new position in Magnolia Oil & Gas in the 2nd quarter worth $11,675,000. Legato Capital Management LLC acquired a new position in Magnolia Oil & Gas in the 2nd quarter worth $244,000. Bailard Inc. acquired a new position in Magnolia Oil & Gas in the 2nd quarter worth $215,000. Finally, Bank of New York Mellon Corp boosted its stake in Magnolia Oil & Gas by 1.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,976,184 shares of the company’s stock worth $50,077,000 after purchasing an additional 36,018 shares during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Susquehanna reduced their target price on shares of Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Truist Financial increased their price objective on shares of Magnolia Oil & Gas from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Benchmark restated a “hold” rating on shares of Magnolia Oil & Gas in a research note on Thursday, July 18th. Bank of America increased their price objective on shares of Magnolia Oil & Gas from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, Wolfe Research started coverage on shares of Magnolia Oil & Gas in a research note on Thursday, July 18th. They set an “outperform” rating and a $32.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $28.60.

Magnolia Oil & Gas Stock Up 0.8 %

Shares of MGY stock opened at $23.34 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.28 and a current ratio of 1.28. The firm’s 50-day moving average is $25.35 and its 200-day moving average is $25.18. The stock has a market cap of $4.65 billion, a price-to-earnings ratio of 11.52, a PEG ratio of 1.12 and a beta of 2.00. Magnolia Oil & Gas Co. has a 52-week low of $19.16 and a 52-week high of $27.63.

Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results on Wednesday, July 31st. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. The company had revenue of $336.73 million for the quarter, compared to analysts’ expectations of $340.72 million. Magnolia Oil & Gas had a net margin of 29.44% and a return on equity of 21.18%. Sell-side analysts predict that Magnolia Oil & Gas Co. will post 2.13 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a $0.13 dividend. The ex-dividend date was Friday, August 9th. This represents a $0.52 annualized dividend and a yield of 2.23%. Magnolia Oil & Gas’s dividend payout ratio is currently 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.