Tidal Investments LLC Acquires 6,225 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Tidal Investments LLC boosted its stake in Magnolia Oil & Gas Co. (NYSE:MGY) by 21.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,636 shares of the company’s stock after buying an additional 6,225 shares during the period. Tidal Investments LLC’s holdings in Magnolia Oil & Gas were worth $846,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Harbor Capital Advisors Inc. purchased a new position in shares of Magnolia Oil & Gas in the 3rd quarter valued at approximately $25,000. First Horizon Advisors Inc. raised its holdings in Magnolia Oil & Gas by 64.7% in the third quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock worth $25,000 after purchasing an additional 396 shares in the last quarter. GAMMA Investing LLC lifted its position in Magnolia Oil & Gas by 62.4% during the third quarter. GAMMA Investing LLC now owns 2,609 shares of the company’s stock valued at $64,000 after buying an additional 1,002 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of Magnolia Oil & Gas by 61.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,850 shares of the company’s stock valued at $72,000 after buying an additional 1,090 shares in the last quarter. Finally, Covestor Ltd grew its position in shares of Magnolia Oil & Gas by 36.8% in the 3rd quarter. Covestor Ltd now owns 2,986 shares of the company’s stock worth $73,000 after buying an additional 804 shares during the period. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MGY has been the subject of a number of recent research reports. Benchmark reissued a “hold” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, October 15th. Mizuho upped their price target on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. Susquehanna decreased their target price on shares of Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Siebert Williams Shank downgraded shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a research note on Tuesday, October 15th. Finally, Piper Sandler reduced their price target on shares of Magnolia Oil & Gas from $26.00 to $24.00 and set a “neutral” rating for the company in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $27.58.

Magnolia Oil & Gas Stock Performance

Shares of MGY opened at $22.89 on Friday. The firm has a market capitalization of $4.50 billion, a P/E ratio of 11.33, a PEG ratio of 1.29 and a beta of 1.99. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.47 and a quick ratio of 1.47. Magnolia Oil & Gas Co. has a one year low of $19.16 and a one year high of $29.02. The business has a fifty day moving average of $26.31 and a 200 day moving average of $25.59.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. Magnolia Oil & Gas had a return on equity of 20.78% and a net margin of 28.88%. The business had revenue of $333.14 million during the quarter, compared to the consensus estimate of $331.45 million. As a group, sell-side analysts anticipate that Magnolia Oil & Gas Co. will post 2 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.52 dividend on an annualized basis and a yield of 2.27%. Magnolia Oil & Gas’s dividend payout ratio is currently 25.74%.

Insiders Place Their Bets

In other Magnolia Oil & Gas news, Director Ltd. Enervest sold 7,000,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was 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. This represents a 76.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.20% of the company’s stock.

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.