Retirement Guys Formula LLC Purchases Shares of 8,394 Magnolia Oil & Gas Corp (NYSE:MGY)

Retirement Guys Formula LLC acquired a new position in shares of Magnolia Oil & Gas Corp (NYSE:MGY) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 8,394 shares of the company’s stock, valued at approximately $212,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Larson Financial Group LLC raised its holdings in Magnolia Oil & Gas by 112.3% in the fourth quarter. Larson Financial Group LLC now owns 1,072 shares of the company’s stock valued at $25,000 after acquiring an additional 567 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of Magnolia Oil & Gas in the 1st quarter valued at approximately $30,000. Quarry LP raised its holdings in shares of Magnolia Oil & Gas by 1,047.8% in the 4th quarter. Quarry LP now owns 2,135 shares of the company’s stock valued at $50,000 after purchasing an additional 1,949 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Magnolia Oil & Gas by 122.8% in the 1st quarter. Parallel Advisors LLC now owns 2,308 shares of the company’s stock valued at $58,000 after purchasing an additional 1,272 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in shares of Magnolia Oil & Gas by 95.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,777 shares of the company’s stock worth $88,000 after purchasing an additional 1,844 shares during the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

Magnolia Oil & Gas Trading Down 2.4%

MGY opened at $23.44 on Tuesday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas Corp has a 52 week low of $19.09 and a 52 week high of $29.02. The business’s 50 day moving average is $22.13 and its two-hundred day moving average is $23.28. The firm has a market cap of $4.51 billion, a price-to-earnings ratio of 11.66, a price-to-earnings-growth ratio of 3.20 and a beta of 1.29.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Wednesday, April 30th. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. Magnolia Oil & Gas had a net margin of 28.50% and a return on equity of 20.73%. The business had revenue of $350.30 million for the quarter, compared to analysts’ expectations of $337.83 million. During the same period in the previous year, the company posted $0.46 EPS. The company’s quarterly revenue was up 9.7% on a year-over-year basis. On average, research analysts predict that Magnolia Oil & Gas Corp will post 2.1 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 12th were issued a $0.15 dividend. The ex-dividend date was Monday, May 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.56%. Magnolia Oil & Gas’s payout ratio is 29.85%.

Analyst Ratings Changes

Several equities analysts recently commented on MGY shares. Citigroup dropped their target price on Magnolia Oil & Gas from $22.00 to $19.00 and set a “sell” rating on the stock in a report on Tuesday, April 8th. UBS Group reaffirmed a “buy” rating and set a $29.00 price objective (up from $26.00) on shares of Magnolia Oil & Gas in a research report on Friday, June 13th. JPMorgan Chase & Co. cut their target price on Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Wells Fargo & Company decreased their target price on Magnolia Oil & Gas from $22.00 to $21.00 and set an “underweight” rating for the company in a research note on Monday, June 16th. Finally, Susquehanna dropped their price target on shares of Magnolia Oil & Gas from $31.00 to $30.00 and set a “positive” rating on the stock in a research note on Tuesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Magnolia Oil & Gas presently has a consensus rating of “Hold” and an average price target of $27.00.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corp. engages in the acquisition, development, exploration, and production of oil and natural gas properties. It operates assets located in the Eagle Ford Shale and Austin Chalk formations in South Texas. The company was founded on February 14, 2017 and is headquartered in Houston, TX.