Sanctuary Advisors LLC Takes $428,000 Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Sanctuary Advisors LLC purchased a new stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY) in the second quarter, according to its most recent filing with the SEC. The firm purchased 16,266 shares of the company’s stock, valued at approximately $428,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV lifted its position in shares of 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 during the period. Opal Wealth Advisors LLC acquired a new position in shares of Magnolia Oil & Gas during the 2nd quarter worth approximately $26,000. Mather Group LLC. acquired a new position in shares of Magnolia Oil & Gas during the 1st quarter worth approximately $27,000. GAMMA Investing LLC raised its position in shares of Magnolia Oil & Gas by 184.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock worth $41,000 after purchasing an additional 1,042 shares during the last quarter. Finally, Fidelis Capital Partners LLC acquired a new position in shares of Magnolia Oil & Gas during the 1st quarter worth approximately $50,000. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Magnolia Oil & Gas 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 value of $181,020,000.00. Following the transaction, the director now owns 2,099,403 shares in the company, valued at $54,290,561.58. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.20% of the stock is currently owned by company insiders.

Magnolia Oil & Gas Stock Up 3.1 %

Shares of Magnolia Oil & Gas stock opened at $26.35 on Thursday. The company has a fifty day moving average price of $25.09 and a 200 day moving average price of $25.42. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.21. Magnolia Oil & Gas Co. has a twelve month low of $19.16 and a twelve month high of $27.63. The stock has a market cap of $5.34 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 1.36 and a beta of 1.99.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. Magnolia Oil & Gas had a net margin of 29.44% and a return on equity of 21.18%. The firm had revenue of $336.73 million during the quarter, compared to analysts’ expectations of $340.72 million. Equities research analysts forecast that Magnolia Oil & Gas Co. will post 1.99 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The company also recently disclosed 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 of this dividend was Friday, August 9th. This represents a $0.52 dividend on an annualized basis and a yield of 1.97%. Magnolia Oil & Gas’s dividend payout ratio is currently 25.87%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on MGY shares. Bank of America lifted their price objective 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. Benchmark reaffirmed a “hold” rating on shares of Magnolia Oil & Gas in a research note on Tuesday. Piper Sandler lowered their target price on shares of Magnolia Oil & Gas from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. Wolfe Research started coverage on shares of Magnolia Oil & Gas in a research note on Thursday, July 18th. They issued an “outperform” rating and a $32.00 target price for the company. Finally, Truist Financial lowered their target price on shares of Magnolia Oil & Gas from $35.00 to $31.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $27.50.

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.