Squarepoint Ops LLC Increases Stock Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Squarepoint Ops LLC boosted its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 60.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 139,639 shares of the company’s stock after buying an additional 52,829 shares during the quarter. Squarepoint Ops LLC owned approximately 0.07% of Magnolia Oil & Gas worth $3,538,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV boosted its position in Magnolia Oil & Gas by 1,753.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,038 shares of the company’s stock valued at $26,000 after acquiring an additional 982 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of Magnolia Oil & Gas during the 2nd quarter worth $26,000. Mather Group LLC. bought a new stake in Magnolia Oil & Gas during the first quarter valued at about $27,000. GAMMA Investing LLC boosted its position in Magnolia Oil & Gas by 184.4% during the second quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock valued at $41,000 after purchasing an additional 1,042 shares in the last quarter. Finally, Fidelis Capital Partners LLC purchased a new position in Magnolia Oil & Gas in the first quarter valued at about $50,000. Institutional investors own 94.73% of the company’s stock.

Insider Transactions at Magnolia Oil & Gas

In related news, Director Ltd. Enervest sold 7,000,000 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $25.86, for a total transaction of $181,020,000.00. Following the completion of the transaction, the director now directly owns 2,099,403 shares in the company, valued at $54,290,561.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on MGY. Piper Sandler decreased their price target on shares of Magnolia Oil & Gas from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. JPMorgan Chase & Co. decreased their target price on shares of Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Wolfe Research assumed coverage on shares of Magnolia Oil & Gas in a report on Thursday, July 18th. They issued an “outperform” rating and a $32.00 price target on the stock. Bank of America upped their price target on Magnolia Oil & Gas from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Finally, Susquehanna lowered their price objective 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. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $27.27.

Magnolia Oil & Gas Stock Performance

Shares of MGY opened at $24.86 on Wednesday. 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 stock has a 50-day moving average of $24.90 and a two-hundred day moving average of $25.32. The stock has a market cap of $5.04 billion, a P/E ratio of 12.28, a P/E/G ratio of 1.21 and a beta of 2.00. Magnolia Oil & Gas Co. has a one year low of $19.16 and a one year high of $27.63.

Magnolia Oil & Gas (NYSE:MGY) last released its earnings results on Wednesday, July 31st. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. Magnolia Oil & Gas had a return on equity of 21.18% and a net margin of 29.44%. The firm had revenue of $336.73 million during the quarter, compared to the consensus estimate of $340.72 million. As a group, research analysts predict that Magnolia Oil & Gas Co. will post 2.04 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend was Friday, August 9th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 25.87%.

Magnolia Oil & Gas Company Profile

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.