Exchange Traded Concepts LLC Grows Stock Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Exchange Traded Concepts LLC boosted its position in Magnolia Oil & Gas Co. (NYSE:MGY) by 3.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 35,694 shares of the company’s stock after acquiring an additional 1,049 shares during the period. Exchange Traded Concepts LLC’s holdings in Magnolia Oil & Gas were worth $835,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp grew its stake in Magnolia Oil & Gas by 4.2% in the 3rd quarter. State Street Corp now owns 10,700,257 shares of the company’s stock worth $261,300,000 after acquiring an additional 435,326 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Magnolia Oil & Gas by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,107,769 shares of the company’s stock valued at $100,332,000 after purchasing an additional 116,431 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Magnolia Oil & Gas by 1.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,061,846 shares of the company’s stock valued at $74,770,000 after purchasing an additional 50,351 shares during the last quarter. Systematic Financial Management LP boosted its holdings in shares of Magnolia Oil & Gas by 7.5% in the 3rd quarter. Systematic Financial Management LP now owns 2,920,018 shares of the company’s stock valued at $71,307,000 after purchasing an additional 203,514 shares during the last quarter. Finally, Boston Trust Walden Corp boosted its holdings in shares of Magnolia Oil & Gas by 4.4% in the 3rd quarter. Boston Trust Walden Corp now owns 2,823,126 shares of the company’s stock valued at $68,941,000 after purchasing an additional 119,582 shares during the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

Magnolia Oil & Gas Stock Performance

NYSE:MGY opened at $24.81 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.47 and a quick ratio of 1.47. The firm has a 50-day moving average of $25.33 and a two-hundred day moving average of $25.51. The stock has a market cap of $4.88 billion, a P/E ratio of 12.28, a PEG ratio of 3.26 and a beta of 2.00. Magnolia Oil & Gas Co. has a 1-year low of $19.53 and a 1-year high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. The company had revenue of $333.14 million during the quarter, compared to analysts’ expectations of $331.45 million. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.78%. On average, research analysts expect that Magnolia Oil & Gas Co. will post 1.98 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Bank of America reiterated a “neutral” rating and issued a $28.00 price target (down previously from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. Truist Financial lifted their price target on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “buy” rating in a report on Monday, January 13th. Piper Sandler lifted their price target on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Wednesday. Benchmark restated a “hold” rating on shares of Magnolia Oil & Gas in a report on Tuesday, October 15th. Finally, Mizuho lifted their target price on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $27.75.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corp. engages in the acquisition, development, exploration, and production of oil and natural gas properties. It operates assets located in the Eagle Ford Shale and Austin Chalk formations in South Texas. The company was founded on February 14, 2017 and is headquartered in Houston, TX.