Dynamic Technology Lab Private Ltd Makes New $1.73 Million Investment in Magnolia Oil & Gas Corp $MGY

Dynamic Technology Lab Private Ltd bought a new position in shares of Magnolia Oil & Gas Corp (NYSE:MGY) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 79,056 shares of the company’s stock, valued at approximately $1,731,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lido Advisors LLC grew its stake in shares of Magnolia Oil & Gas by 2.4% during the 4th quarter. Lido Advisors LLC now owns 16,197 shares of the company’s stock worth $382,000 after purchasing an additional 387 shares during the period. Oak Family Advisors LLC grew its stake in shares of Magnolia Oil & Gas by 0.9% during the 4th quarter. Oak Family Advisors LLC now owns 47,620 shares of the company’s stock worth $1,042,000 after purchasing an additional 410 shares during the period. GAMMA Investing LLC grew its stake in shares of Magnolia Oil & Gas by 8.0% during the 4th quarter. GAMMA Investing LLC now owns 6,130 shares of the company’s stock worth $134,000 after purchasing an additional 453 shares during the period. Coldstream Capital Management Inc. grew its stake in shares of Magnolia Oil & Gas by 3.1% during the 3rd quarter. Coldstream Capital Management Inc. now owns 15,937 shares of the company’s stock worth $380,000 after purchasing an additional 482 shares during the period. Finally, Lazard Asset Management LLC grew its stake in Magnolia Oil & Gas by 0.4% in the 2nd quarter. Lazard Asset Management LLC now owns 167,071 shares of the company’s stock valued at $3,755,000 after acquiring an additional 671 shares during the period. 94.73% of the stock is currently owned by institutional investors.

Magnolia Oil & Gas Trading Up 1.3%

Shares of MGY opened at $27.59 on Friday. Magnolia Oil & Gas Corp has a 52-week low of $21.07 and a 52-week high of $32.76. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.19. The firm’s fifty day moving average is $28.92 and its two-hundred day moving average is $26.65. The stock has a market cap of $5.10 billion, a PE ratio of 16.04 and a beta of 0.71.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Wednesday, May 6th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.03. Magnolia Oil & Gas had a net margin of 24.40% and a return on equity of 16.28%. The company had revenue of $358.51 million for the quarter, compared to analysts’ expectations of $349.89 million. During the same quarter in the previous year, the company posted $0.54 EPS. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. Research analysts forecast that Magnolia Oil & Gas Corp will post 2.82 earnings per share for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th were paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Tuesday, May 12th. Magnolia Oil & Gas’s payout ratio is 38.37%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. UBS Group lifted their price target on shares of Magnolia Oil & Gas from $29.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Zacks Research cut shares of Magnolia Oil & Gas from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Piper Sandler lifted their price target on shares of Magnolia Oil & Gas from $28.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday, March 12th. Truist Financial lifted their price target on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “hold” rating in a research note on Monday, April 27th. Finally, Mizuho lifted their price target on shares of Magnolia Oil & Gas from $33.00 to $35.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Seven research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $31.42.

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).