53,409 Shares in Magnolia Oil & Gas Corp $MGY Acquired by Planning Project LLC

Planning Project LLC bought a new position in shares of Magnolia Oil & Gas Corp (NYSE:MGY) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 53,409 shares of the company’s stock, valued at approximately $1,434,000. Magnolia Oil & Gas accounts for about 0.3% of Planning Project LLC’s portfolio, making the stock its 15th biggest holding.

A number of other hedge funds have also bought and sold shares of the stock. Valued Wealth Advisors LLC acquired a new stake in shares of Magnolia Oil & Gas during the first quarter worth $29,000. EverSource Wealth Advisors LLC increased its position in shares of Magnolia Oil & Gas by 165.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock valued at $31,000 after acquiring an additional 864 shares during the period. Harbor Investment Advisory LLC acquired a new position in shares of Magnolia Oil & Gas in the 2nd quarter valued at $39,000. Parallel Advisors LLC increased its position in shares of Magnolia Oil & Gas by 79.8% in the 4th quarter. Parallel Advisors LLC now owns 1,769 shares of the company’s stock valued at $39,000 after acquiring an additional 785 shares during the period. Finally, Geneos Wealth Management Inc. raised its stake in Magnolia Oil & Gas by 90.5% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,212 shares of the company’s stock worth $50,000 after acquiring an additional 1,051 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Trading Up 0.1%

Shares of Magnolia Oil & Gas stock opened at $26.82 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.58 and a quick ratio of 1.58. The firm has a fifty day moving average price of $26.01 and a 200 day moving average price of $27.82. Magnolia Oil & Gas Corp has a 1 year low of $21.07 and a 1 year high of $32.76. The stock has a market cap of $6.36 billion, a PE ratio of 11.76 and a beta of 0.70.

Magnolia Oil & Gas (NYSE:MGY) last posted its earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.06. Magnolia Oil & Gas had a net margin of 28.77% and a return on equity of 21.04%. The company had revenue of $478.81 million during the quarter, compared to the consensus estimate of $458.10 million. During the same period in the previous year, the firm posted $0.41 earnings per share. The firm’s quarterly revenue was up 50.1% on a year-over-year basis. Equities research analysts predict that Magnolia Oil & Gas Corp will post 2.91 earnings per share for the current year.

Magnolia Oil & Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 10th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Monday, August 10th. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.17. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 31.58%.

Analyst Upgrades and Downgrades

A number of analysts have commented on MGY shares. Weiss Ratings raised Magnolia Oil & Gas from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. UBS Group cut their price objective on Magnolia Oil & Gas from $38.00 to $34.00 and set a “buy” rating on the stock in a report on Friday, July 10th. Wells Fargo & Company upgraded Magnolia Oil & Gas to a “hold” rating in a research note on Wednesday, September 2nd. Wall Street Zen raised Magnolia Oil & Gas from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Citigroup dropped their target price on Magnolia Oil & Gas from $29.00 to $27.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $31.62.

Insider Buying and Selling at Magnolia Oil & Gas

In related news, Director David Khani acquired 8,000 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was acquired at an average price of $25.00 per share, with a total value of $200,000.00. Following the acquisition, the director directly owned 30,622 shares in the company, valued at $765,550. This represents a 35.36% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.92% of the company’s stock.

Magnolia Oil & Gas Profile

Magnolia Oil & Gas Corp (NYSE: MGY) is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties.

The company’s core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs).