Sanctuary Advisors LLC Takes Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Sanctuary Advisors LLC bought a new stake in Magnolia Oil & Gas Co. (NYSE:MGY) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 16,266 shares of the company’s stock, valued at approximately $428,000.

A number of other institutional investors have also modified their holdings of the stock. Teachers Retirement System of The State of Kentucky raised its stake in shares of Magnolia Oil & Gas by 92.6% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 121,882 shares of the company’s stock valued at $3,088,000 after purchasing an additional 58,585 shares in the last quarter. Creative Planning raised its stake in shares of Magnolia Oil & Gas by 21.3% in the 2nd quarter. Creative Planning now owns 63,589 shares of the company’s stock valued at $1,611,000 after purchasing an additional 11,160 shares in the last quarter. Algert Global LLC acquired a new stake in shares of Magnolia Oil & Gas in the 2nd quarter valued at about $442,000. The Manufacturers Life Insurance Company raised its stake in shares of Magnolia Oil & Gas by 0.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,647,897 shares of the company’s stock valued at $41,758,000 after purchasing an additional 11,877 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Magnolia Oil & Gas by 25.8% in the 2nd quarter. AQR Capital Management LLC now owns 20,832 shares of the company’s stock valued at $528,000 after purchasing an additional 4,276 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Price Performance

NYSE MGY opened at $26.35 on Thursday. Magnolia Oil & Gas Co. has a 52 week low of $19.16 and a 52 week high of $27.63. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.21. The stock has a market cap of $5.34 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 1.36 and a beta of 1.99. The company has a 50-day moving average price of $25.09 and a two-hundred day moving average price of $25.42.

Magnolia Oil & Gas (NYSE:MGY) last posted its earnings results on Wednesday, July 31st. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.51 by $0.05. Magnolia Oil & Gas had a net margin of 29.44% and a return on equity of 21.18%. The firm had revenue of $336.73 million during the quarter, compared to analysts’ expectations of $340.72 million. Analysts forecast that Magnolia Oil & Gas Co. will post 1.99 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.97%. The ex-dividend date was Friday, August 9th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 25.87%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Truist Financial cut their target price on shares of Magnolia Oil & Gas from $35.00 to $31.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. JPMorgan Chase & Co. dropped their price objective on shares of Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Susquehanna dropped their price objective on shares of Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Mizuho dropped their price objective on shares of Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Finally, Bank of America increased their price objective on shares of Magnolia Oil & Gas from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $27.50.

Insider Activity

In other news, Director Ltd. Enervest sold 7,000,000 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 2,099,403 shares in the company, valued at $54,290,561.58. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.20% of the company’s stock.

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.