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

Gallacher Capital Management LLC purchased a new position in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 26,034 shares of the company's stock, valued at approximately $660,000.

Several other large investors also recently added to or reduced their stakes in the company. Lindbrook Capital LLC raised its position in shares of Magnolia Oil & Gas by 61.5% in the first quarter. Lindbrook Capital LLC now owns 1,647 shares of the company's stock valued at $43,000 after purchasing an additional 627 shares during the period. Envestnet Portfolio Solutions Inc. lifted its position in shares of Magnolia Oil & Gas by 5.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 13,156 shares of the company's stock worth $280,000 after acquiring an additional 730 shares in the last quarter. Commerce Bank lifted its position in shares of Magnolia Oil & Gas by 4.0% during the fourth quarter. Commerce Bank now owns 24,820 shares of the company's stock worth $528,000 after acquiring an additional 945 shares in the last quarter. Fulton Bank N.A. boosted its holdings in shares of Magnolia Oil & Gas by 10.3% in the second quarter. Fulton Bank N.A. now owns 10,411 shares of the company's stock worth $264,000 after acquiring an additional 968 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its position 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 valued at $26,000 after purchasing an additional 982 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company's stock.

Magnolia Oil & Gas Trading Down 1.8 %

Shares of Magnolia Oil & Gas stock traded down $0.43 on Friday, hitting $23.57. The stock had a trading volume of 1,799,835 shares, compared to its average volume of 1,598,688. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.21. Magnolia Oil & Gas Co. has a one year low of $19.16 and a one year high of $27.63. The stock's 50-day simple moving average is $25.43 and its two-hundred day simple moving average is $25.16. The stock has a market cap of $4.78 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 1.15 and a beta of 2.00.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.05. The firm had revenue of $336.73 million for the quarter, compared to analysts' expectations of $340.72 million. Magnolia Oil & Gas had a net margin of 29.44% and a return on equity of 21.18%. As a group, sell-side analysts predict that Magnolia Oil & Gas Co. will post 2.13 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were paid a dividend of $0.13 per share. The ex-dividend date was Friday, August 9th. This represents a $0.52 annualized dividend and a dividend yield of 2.21%. Magnolia Oil & Gas's dividend payout ratio (DPR) is presently 25.87%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MGY. Benchmark reaffirmed a "hold" rating on shares of Magnolia Oil & Gas in a report on Thursday, July 18th. Wells Fargo & Company reduced 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 report on Monday, August 5th. Bank of America boosted their target price on Magnolia Oil & Gas from $28.00 to $29.00 and gave the stock a "buy" rating in a research report on Tuesday, July 23rd. Truist Financial upped their price objective on shares of Magnolia Oil & Gas from $34.00 to $35.00 and gave the stock a "buy" rating in a research report on Friday, August 2nd. Finally, Mizuho increased their price target on shares of Magnolia Oil & Gas from $26.00 to $28.00 and gave the stock a "neutral" rating in a report on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $28.60.

Magnolia Oil & Gas Company Profile

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.