SIR Capital Management L.P. Makes New $15.11 Million Investment in Magnolia Oil & Gas Co. (NYSE:MGY)

SIR Capital Management L.P. bought a new stake in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 596,149 shares of the company's stock, valued at approximately $15,106,000. Magnolia Oil & Gas comprises about 1.5% of SIR Capital Management L.P.'s holdings, making the stock its 23rd biggest holding. SIR Capital Management L.P. owned approximately 0.29% of Magnolia Oil & Gas as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Massmutual Trust Co. FSB ADV raised its position in Magnolia Oil & Gas by 1,753.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,038 shares of the company's stock valued at $26,000 after buying an additional 982 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in Magnolia Oil & Gas in the second quarter valued at approximately $26,000. Mather Group LLC. bought a new position in Magnolia Oil & Gas in the first quarter valued at approximately $27,000. Private Wealth Management Group LLC bought a new position in Magnolia Oil & Gas in the fourth quarter valued at approximately $33,000. Finally, GAMMA Investing LLC grew its stake in Magnolia Oil & Gas by 184.4% in the second quarter. GAMMA Investing LLC now owns 1,607 shares of the company's stock valued at $41,000 after purchasing an additional 1,042 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company's stock.

Magnolia Oil & Gas Price Performance

NYSE MGY traded down $0.28 during midday trading on Tuesday, hitting $23.17. The company had a trading volume of 1,783,098 shares, compared to its average volume of 1,491,687. The company has a market capitalization of $4.61 billion, a PE ratio of 11.52, a P/E/G ratio of 1.12 and a beta of 2.00. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.21. The firm has a 50-day moving average price of $25.39 and a 200-day moving average price of $25.17. Magnolia Oil & Gas Co. has a twelve month low of $19.16 and a twelve month high of $27.63.

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

Magnolia Oil & Gas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.24%. Magnolia Oil & Gas's dividend payout ratio (DPR) is currently 25.87%.

Analysts Set New Price Targets

A number of research firms have weighed in on MGY. Mizuho raised their price target on Magnolia Oil & Gas from $26.00 to $28.00 and gave the company a "neutral" rating in a research note on Monday, May 13th. Truist Financial lifted their target price on Magnolia Oil & Gas from $34.00 to $35.00 and gave the stock a "buy" rating in a research note on Friday, August 2nd. Capital One Financial began coverage on Magnolia Oil & Gas in a research note on Tuesday, June 11th. They set an "overweight" rating and a $28.00 target price for the company. Benchmark restated a "hold" rating on shares of Magnolia Oil & Gas in a research note on Thursday, July 18th. Finally, Susquehanna reduced their price target on Magnolia Oil & Gas from $33.00 to $32.00 and set a "positive" rating for the company in a research note on Wednesday, September 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target 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.