King Luther Capital Management Corp Acquires 10,632 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

King Luther Capital Management Corp boosted its holdings in Magnolia Oil & Gas Co. (NYSE:MGY) by 3.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 365,214 shares of the company’s stock after purchasing an additional 10,632 shares during the period. King Luther Capital Management Corp owned about 0.18% of Magnolia Oil & Gas worth $9,255,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of MGY. Massmutual Trust Co. FSB ADV lifted its holdings in Magnolia Oil & Gas by 1,753.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,038 shares of the company’s stock valued at $26,000 after purchasing an additional 982 shares during the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of Magnolia Oil & Gas during the 2nd quarter valued at approximately $26,000. Mather Group LLC. bought a new position in Magnolia Oil & Gas in the 1st quarter worth approximately $27,000. GAMMA Investing LLC grew its stake in Magnolia Oil & Gas by 184.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock valued at $41,000 after buying an additional 1,042 shares in the last quarter. Finally, Lindbrook Capital LLC raised its holdings in Magnolia Oil & Gas by 61.5% during the 1st quarter. Lindbrook Capital LLC now owns 1,647 shares of the company’s stock valued at $43,000 after acquiring an additional 627 shares during the period. Institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Up 0.3 %

Shares of MGY opened at $26.00 on Friday. Magnolia Oil & Gas Co. has a 1 year low of $19.16 and a 1 year high of $27.63. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.28 and a quick ratio of 1.28. The stock has a 50 day simple moving average of $25.16 and a two-hundred day simple moving average of $25.25. The firm has a market cap of $5.18 billion, a P/E ratio of 12.94, a P/E/G ratio of 1.18 and a beta of 2.00.

Magnolia Oil & Gas (NYSE:MGY) last released its earnings results on Wednesday, July 31st. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.51 by $0.05. The company had revenue of $336.73 million for the quarter, compared to analyst estimates of $340.72 million. Magnolia Oil & Gas had a net margin of 29.44% and a return on equity of 21.18%. On average, analysts forecast that Magnolia Oil & Gas Co. will post 2.08 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a $0.13 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.52 dividend on an annualized basis and a yield of 2.00%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 25.87%.

Analysts Set New Price Targets

MGY has been the subject of several recent research reports. Susquehanna reduced their price target on Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Wells Fargo & Company cut their target price on Magnolia Oil & Gas from $27.00 to $26.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. Benchmark reiterated a “hold” rating on shares of Magnolia Oil & Gas in a research report on Thursday, July 18th. Capital One Financial assumed coverage on shares of Magnolia Oil & Gas in a research report on Tuesday, June 11th. They issued an “overweight” rating and a $28.00 price objective for the company. Finally, Truist Financial upped their target price on shares of Magnolia Oil & Gas from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $28.00.

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.