Magnolia Oil & Gas Corp $MGY Shares Purchased by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC boosted its position in Magnolia Oil & Gas Corp (NYSE:MGY) by 80.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 45,612 shares of the company’s stock after acquiring an additional 20,358 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Magnolia Oil & Gas were worth $1,152,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Encompass Capital Advisors LLC acquired a new stake in shares of Magnolia Oil & Gas during the first quarter worth $53,819,000. Jane Street Group LLC boosted its stake in Magnolia Oil & Gas by 1,382.9% in the 1st quarter. Jane Street Group LLC now owns 1,059,335 shares of the company’s stock worth $26,759,000 after buying an additional 987,896 shares during the last quarter. Millennium Management LLC grew its holdings in Magnolia Oil & Gas by 506.2% in the 1st quarter. Millennium Management LLC now owns 1,022,836 shares of the company’s stock valued at $25,837,000 after buying an additional 854,113 shares during the period. Nuveen LLC purchased a new stake in Magnolia Oil & Gas in the first quarter valued at approximately $21,066,000. Finally, Dimensional Fund Advisors LP increased its position in Magnolia Oil & Gas by 12.5% during the first quarter. Dimensional Fund Advisors LP now owns 5,365,892 shares of the company’s stock worth $135,541,000 after purchasing an additional 597,845 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Analysts Set New Price Targets

MGY has been the topic of a number of research analyst reports. William Blair began coverage on shares of Magnolia Oil & Gas in a report on Monday, August 25th. They issued an “outperform” rating on the stock. Piper Sandler lifted their target price on Magnolia Oil & Gas from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. Wells Fargo & Company lowered their price target on Magnolia Oil & Gas from $22.00 to $21.00 and set an “underweight” rating for the company in a research report on Monday, June 16th. Bank of America upped their price target on Magnolia Oil & Gas from $23.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, May 23rd. Finally, UBS Group reaffirmed a “buy” rating and issued a $29.00 price objective (up from $26.00) on shares of Magnolia Oil & Gas in a research note on Friday, June 13th. Four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Magnolia Oil & Gas currently has an average rating of “Hold” and an average target price of $26.67.

Magnolia Oil & Gas Stock Up 4.1%

Shares of Magnolia Oil & Gas stock opened at $24.27 on Thursday. Magnolia Oil & Gas Corp has a twelve month low of $19.09 and a twelve month high of $29.02. The stock has a market cap of $4.63 billion, a price-to-earnings ratio of 12.71, a price-to-earnings-growth ratio of 3.07 and a beta of 1.33. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.20. The company has a fifty day moving average price of $23.75 and a 200 day moving average price of $23.02.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. Magnolia Oil & Gas had a return on equity of 19.34% and a net margin of 27.57%.The company had revenue of $318.98 million for the quarter, compared to analysts’ expectations of $311.58 million. During the same quarter in the previous year, the firm posted $0.51 earnings per share. The firm’s quarterly revenue was down 5.3% on a year-over-year basis. Equities research analysts forecast that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 11th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Monday, August 11th. Magnolia Oil & Gas’s dividend payout ratio is currently 31.41%.

Magnolia Oil & Gas Profile

Magnolia Oil & Gas Corp. engages in the acquisition, development, exploration, and production of oil and natural gas properties. It operates assets located in the Eagle Ford Shale and Austin Chalk formations in South Texas. The company was founded on February 14, 2017 and is headquartered in Houston, TX.