Bailard Inc. Makes New Investment in Magnolia Oil & Gas Co. (NYSE:MGY)

Bailard Inc. acquired a new stake in Magnolia Oil & Gas Co. (NYSE:MGY) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 8,500 shares of the company’s stock, valued at approximately $215,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV grew its stake in shares of Magnolia Oil & Gas by 1,753.6% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,038 shares of the company’s stock worth $26,000 after purchasing an additional 982 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of Magnolia Oil & Gas in the 2nd quarter worth approximately $26,000. Mather Group LLC. purchased a new position in shares of Magnolia Oil & Gas during the first quarter valued at approximately $27,000. Private Wealth Management Group LLC purchased a new position in shares of Magnolia Oil & Gas during the fourth quarter valued at approximately $33,000. Finally, GAMMA Investing LLC raised its holdings in shares of Magnolia Oil & Gas by 184.4% during 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 in the last quarter. 94.73% of the stock is owned by institutional investors.

Magnolia Oil & Gas Stock Performance

Shares of MGY opened at $25.48 on Wednesday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.21. The stock has a market cap of $5.07 billion, a P/E ratio of 12.68, a P/E/G ratio of 1.17 and a beta of 2.02. The business’s 50 day moving average price is $25.48 and its 200-day moving average price is $24.95. Magnolia Oil & Gas Co. has a 52 week low of $19.16 and a 52 week high of $27.63.

Magnolia Oil & Gas (NYSE:MGY) last released 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 return on equity of 21.18% and a net margin of 29.44%. The business had revenue of $336.73 million for the quarter, compared to the consensus estimate of $340.72 million. Equities research analysts anticipate that Magnolia Oil & Gas Co. will post 2.14 earnings per share for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Friday, August 9th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 25.87%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on MGY shares. Capital One Financial started coverage on shares of Magnolia Oil & Gas in a research report on Tuesday, June 11th. They set an “overweight” rating and a $28.00 price objective on the stock. Wells Fargo & Company decreased their price target on shares of Magnolia Oil & Gas from $27.00 to $26.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. Bank of America raised their price objective on shares of Magnolia Oil & Gas from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Wolfe Research started coverage on Magnolia Oil & Gas in a report on Thursday, July 18th. They set an “outperform” rating and a $32.00 target price on the stock. Finally, Susquehanna lifted their price target on Magnolia Oil & Gas from $31.00 to $33.00 and gave the company a “positive” rating in a research report on Monday, July 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $28.70.

About Magnolia Oil & Gas

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.