Navellier & Associates Inc. Purchases 20,055 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Navellier & Associates Inc. boosted its position in shares of Magnolia Oil & Gas Co. (NYSE:MGYGet Rating) by 93.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,593 shares of the company’s stock after purchasing an additional 20,055 shares during the period. Navellier & Associates Inc.’s holdings in Magnolia Oil & Gas were worth $873,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Truist Financial Corp purchased a new stake in Magnolia Oil & Gas in the 1st quarter valued at about $222,000. Arizona State Retirement System boosted its position in Magnolia Oil & Gas by 4.1% in the 1st quarter. Arizona State Retirement System now owns 39,315 shares of the company’s stock valued at $930,000 after buying an additional 1,563 shares during the period. Envestnet Asset Management Inc. boosted its position in Magnolia Oil & Gas by 36.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 98,970 shares of the company’s stock valued at $2,341,000 after buying an additional 26,534 shares during the period. Commonwealth Equity Services LLC purchased a new stake in shares of Magnolia Oil & Gas in the 1st quarter worth approximately $1,107,000. Finally, Victory Capital Management Inc. lifted its position in shares of Magnolia Oil & Gas by 314.9% in the 1st quarter. Victory Capital Management Inc. now owns 2,664,781 shares of the company’s stock worth $62,943,000 after purchasing an additional 2,022,547 shares during the period. 84.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MGY has been the subject of several research reports. TheStreet raised shares of Magnolia Oil & Gas from a “c” rating to a “b-” rating in a research report on Thursday, October 27th. KeyCorp upped their price target on shares of Magnolia Oil & Gas from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, November 3rd. Finally, Piper Sandler upped their price target on shares of Magnolia Oil & Gas from $32.00 to $36.00 and gave the stock an “overweight” rating in a research report on Thursday, November 17th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $30.38.

Magnolia Oil & Gas Stock Down 3.0 %

NYSE:MGY traded down $0.81 during midday trading on Thursday, reaching $25.90. 1,483,900 shares of the stock traded hands, compared to its average volume of 2,156,216. Magnolia Oil & Gas Co. has a 12-month low of $17.23 and a 12-month high of $30.31. The business has a 50-day moving average of $23.81 and a two-hundred day moving average of $23.69. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.63 and a current ratio of 2.63. The stock has a market capitalization of $5.60 billion, a PE ratio of 5.98 and a beta of 2.15.

Magnolia Oil & Gas (NYSE:MGYGet Rating) last issued its quarterly earnings results on Tuesday, November 1st. The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.11. Magnolia Oil & Gas had a net margin of 48.42% and a return on equity of 66.39%. The business had revenue of $482.96 million for the quarter, compared to analyst estimates of $454.87 million. On average, equities analysts forecast that Magnolia Oil & Gas Co. will post 4.7 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 7th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, November 4th. This represents a $0.40 dividend on an annualized basis and a yield of 1.54%. Magnolia Oil & Gas’s payout ratio is 9.24%.

Magnolia Oil & Gas Profile

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Magnolia Oil & Gas Corporation 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 Field in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.

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

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