Argent Capital Management LLC Raises Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Argent Capital Management LLC grew its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 56.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 29,111 shares of the company's stock after buying an additional 10,547 shares during the quarter. Argent Capital Management LLC's holdings in Magnolia Oil & Gas were worth $738,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Magnolia Oil & Gas by 16.6% in the first quarter. Vanguard Group Inc. now owns 20,757,369 shares of the company's stock worth $538,654,000 after purchasing an additional 2,956,314 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Magnolia Oil & Gas by 20.2% in the fourth quarter. First Trust Advisors LP now owns 10,126,891 shares of the company's stock worth $215,602,000 after purchasing an additional 1,704,982 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Magnolia Oil & Gas by 2.1% in the fourth quarter. Victory Capital Management Inc. now owns 6,162,526 shares of the company's stock worth $131,200,000 after purchasing an additional 128,097 shares during the last quarter. Wasatch Advisors LP grew its stake in shares of Magnolia Oil & Gas by 2.2% in the fourth quarter. Wasatch Advisors LP now owns 3,679,262 shares of the company's stock worth $78,331,000 after purchasing an additional 77,733 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Magnolia Oil & Gas by 7.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,506,042 shares of the company's stock worth $74,647,000 after purchasing an additional 257,806 shares during the last quarter. Institutional investors own 94.73% of the company's stock.

Magnolia Oil & Gas Stock Up 2.6 %

Shares of MGY traded up $0.63 on Friday, reaching $25.31. The company's stock had a trading volume of 1,419,523 shares, compared to its average volume of 2,701,453. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.21. Magnolia Oil & Gas Co. has a twelve month low of $19.16 and a twelve month high of $27.63. The stock has a market capitalization of $5.13 billion, a PE ratio of 12.59, a PEG ratio of 0.90 and a beta of 2.02. The firm has a fifty day moving average of $25.44 and a 200-day moving average of $24.84.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its earnings results on Wednesday, July 31st. The company reported $0.56 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $336.73 million for the quarter, compared to analyst estimates of $340.72 million. Equities analysts predict that Magnolia Oil & Gas Co. will post 2.16 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be issued a $0.13 dividend. The ex-dividend date is Friday, August 9th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.05%. Magnolia Oil & Gas's dividend payout ratio is presently 25.87%.

Wall Street Analysts Forecast Growth

MGY has been the topic of several analyst reports. Wolfe Research started coverage on shares of Magnolia Oil & Gas in a research note on Thursday, July 18th. They issued an "outperform" rating and a $32.00 price objective on the stock. Benchmark reaffirmed a "hold" rating on shares of Magnolia Oil & Gas in a research report on Thursday, July 18th. Susquehanna upped their price target on shares of Magnolia Oil & Gas from $31.00 to $33.00 and gave the company a "positive" rating in a research report on Monday, July 22nd. Wells Fargo & Company cut their price target on shares of Magnolia Oil & Gas from $27.00 to $26.00 and set an "equal weight" rating on the stock in a research report on Monday, August 5th. Finally, 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 target on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, 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.