Algert Global LLC Has $891,000 Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Algert Global LLC increased its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 365.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 57,020 shares of the company’s stock after acquiring an additional 44,757 shares during the period. Algert Global LLC’s holdings in Magnolia Oil & Gas were worth $891,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Harvest Fund Management Co. Ltd bought a new position in shares of Magnolia Oil & Gas during the 1st quarter worth approximately $31,000. C M Bidwell & Associates Ltd. bought a new stake in shares of Magnolia Oil & Gas in the first quarter valued at approximately $32,000. Acadian Asset Management LLC acquired a new stake in Magnolia Oil & Gas during the first quarter worth approximately $41,000. Rockefeller Capital Management L.P. increased its stake in Magnolia Oil & Gas by 108.5% during the 1st quarter. Rockefeller Capital Management L.P. now owns 4,611 shares of the company’s stock worth $52,000 after acquiring an additional 2,399 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Magnolia Oil & Gas in the 2nd quarter valued at $55,000. 76.56% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:MGY traded up $0.19 on Thursday, hitting $20.46. The company’s stock had a trading volume of 9,522 shares, compared to its average volume of 2,523,763. The company has a 50-day simple moving average of $16.21 and a 200 day simple moving average of $14.28. The company has a market capitalization of $4.83 billion, a PE ratio of 17.27 and a beta of 2.47. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.86 and a quick ratio of 1.86. Magnolia Oil & Gas Co. has a 1 year low of $4.09 and a 1 year high of $20.62.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Sunday, August 1st. The company reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.15. The firm had revenue of $250.73 million for the quarter, compared to analysts’ expectations of $229.42 million. Magnolia Oil & Gas had a net margin of 25.33% and a return on equity of 23.92%. On average, equities research analysts expect that Magnolia Oil & Gas Co. will post 1.99 earnings per share for the current fiscal year.

The company also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, September 1st. Investors of record on Thursday, August 12th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, August 11th. This represents a dividend yield of 1.15%. Magnolia Oil & Gas’s dividend payout ratio is -800.00%.

In other Magnolia Oil & Gas news, Director John B. Walker sold 5,000,000 shares of Magnolia Oil & Gas stock in a transaction dated Thursday, October 7th. The shares were sold at an average price of $18.50, for a total value of $92,500,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John B. Walker sold 7,500,000 shares of the business’s stock in a transaction on Tuesday, September 28th. The stock was sold at an average price of $16.38, for a total value of $122,850,000.00. The disclosure for this sale can be found here. Insiders own 4.70% of the company’s stock.

MGY has been the subject of several recent analyst reports. TheStreet raised shares of Magnolia Oil & Gas from a “c” rating to a “b-” rating in a research report on Tuesday, August 3rd. Truist Securities upped their target price on Magnolia Oil & Gas from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, October 7th. Citigroup lifted their target price on Magnolia Oil & Gas from $14.00 to $15.50 and gave the company a “neutral” rating in a research report on Thursday, July 22nd. KeyCorp upped their price objective on shares of Magnolia Oil & Gas from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Truist Financial raised Magnolia Oil & Gas to a “buy” rating and set a $21.00 price objective on the stock in a report on Monday, August 30th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $17.88.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corp. engages in oil and gas exploration and production business. It operates assets located in the Eagle Ford Shale and Austin Chalk formations in South Texas. The company was founded on July 31, 2018 and is headquartered in Houston, TX.

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Institutional Ownership by Quarter for Magnolia Oil & Gas (NYSE:MGY)

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