Magnolia Oil & Gas Co. (NYSE:MGY) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 9.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 388,289 shares of the company’s stock after acquiring an additional 33,411 shares during the period. Envestnet Asset Management Inc.’s holdings in Magnolia Oil & Gas were worth $9,839,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Mather Group LLC. acquired a new stake in Magnolia Oil & Gas during the first quarter worth approximately $27,000. Massmutual Trust Co. FSB ADV grew 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 buying an additional 982 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in Magnolia Oil & Gas during the 2nd quarter worth $26,000. GAMMA Investing LLC lifted its position in Magnolia Oil & Gas by 184.4% in the second quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock valued at $41,000 after acquiring an additional 1,042 shares during the last quarter. Finally, Lindbrook Capital LLC boosted its stake in Magnolia Oil & Gas by 61.5% in the first quarter. Lindbrook Capital LLC now owns 1,647 shares of the company’s stock valued at $43,000 after acquiring an additional 627 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MGY. Capital One Financial assumed coverage on Magnolia Oil & Gas in a research report on Tuesday, June 11th. They set an “overweight” rating and a $28.00 target price on the stock. Susquehanna cut their price target on Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating on the stock in a research report 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 note on Friday, August 2nd. Mizuho lowered their target price on shares of Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Finally, Piper Sandler cut their target price on shares of Magnolia Oil & Gas from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $28.00.

Insider Activity

In related news, Director Ltd. Enervest sold 7,000,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $25.86, for a total value of $181,020,000.00. Following the completion of the sale, the director now owns 2,099,403 shares in the company, valued at $54,290,561.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.20% of the company’s stock.

Magnolia Oil & Gas Stock Performance

NYSE:MGY opened at $23.70 on Friday. The firm has a market cap of $4.72 billion, a price-to-earnings ratio of 11.79, a price-to-earnings-growth ratio of 1.27 and a beta of 2.00. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.28 and a quick ratio of 1.28. Magnolia Oil & Gas Co. has a 1-year low of $19.16 and a 1-year high of $27.63. The firm’s fifty day moving average price is $24.99 and its 200 day moving average price is $25.30.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. The business had revenue of $336.73 million for the quarter, compared to analyst estimates of $340.72 million. Magnolia Oil & Gas had a net margin of 29.44% and a return on equity of 21.18%. On average, sell-side analysts expect that Magnolia Oil & Gas Co. will post 2.04 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend was Friday, August 9th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 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.