NINE MASTS CAPITAL Ltd Acquires New Shares in Magnolia Oil & Gas Co. (NYSE:MGY)

NINE MASTS CAPITAL Ltd bought a new position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 12,400 shares of the company’s stock, valued at approximately $314,000.

Other institutional investors also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV raised its position in shares of Magnolia Oil & Gas by 1,753.6% in 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 stake in Magnolia Oil & Gas in the second quarter worth $26,000. Mather Group LLC. bought a new position in shares of Magnolia Oil & Gas during the first quarter worth $27,000. Private Wealth Management Group LLC acquired a new position in shares of Magnolia Oil & Gas in the 4th quarter valued at $33,000. Finally, GAMMA Investing LLC increased its position in shares of 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. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MGY. Susquehanna decreased their target price on 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 boosted their price objective on Magnolia Oil & Gas from $34.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Wells Fargo & Company dropped their target price on shares of Magnolia Oil & Gas from $27.00 to $26.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th. Wolfe Research began coverage on shares of Magnolia Oil & Gas in a research note on Thursday, July 18th. They issued an “outperform” rating and a $32.00 price target on the stock. Finally, Piper Sandler lowered their price objective 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $28.60.

Magnolia Oil & Gas Stock Up 0.8 %

Shares of MGY stock opened at $23.34 on Thursday. The firm’s fifty day moving average price is $25.35 and its two-hundred day moving average price is $25.18. Magnolia Oil & Gas Co. has a 1 year low of $19.16 and a 1 year high of $27.63. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $4.65 billion, a P/E ratio of 11.61, a PEG ratio of 1.12 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 earnings per share (EPS) for the quarter, beating 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 business had revenue of $336.73 million for the quarter, compared to the consensus estimate of $340.72 million. On average, equities analysts predict that Magnolia Oil & Gas Co. will post 2.13 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The business 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 2.23%. The ex-dividend date was Friday, August 9th. Magnolia Oil & Gas’s payout ratio is presently 25.87%.

Magnolia Oil & Gas 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.