Los Angeles Capital Management LLC Purchases New Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Los Angeles Capital Management LLC acquired a new stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 87,285 shares of the company's stock, valued at approximately $2,212,000.

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

Magnolia Oil & Gas Stock Up 0.8 %

Magnolia Oil & Gas stock traded up $0.18 during mid-day trading on Wednesday, reaching $23.34. 1,686,986 shares of the company's stock were exchanged, compared to its average volume of 2,632,323. Magnolia Oil & Gas Co. has a twelve month low of $19.16 and a twelve month high of $27.63. The company has a market cap of $4.65 billion, a P/E ratio of 11.52, a P/E/G ratio of 1.12 and a beta of 2.00. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.21. The company has a fifty day moving average of $25.35 and a 200-day moving average of $25.18.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its earnings results on Wednesday, July 31st. The company reported $0.56 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.05. Magnolia Oil & Gas had a return on equity of 21.18% and a net margin of 29.44%. The business had revenue of $336.73 million for the quarter, compared to analysts' expectations of $340.72 million. Sell-side analysts expect that Magnolia Oil & Gas Co. will post 2.13 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend was Friday, August 9th. Magnolia Oil & Gas's dividend payout ratio (DPR) is presently 25.87%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Truist Financial lifted their price objective on Magnolia Oil & Gas from $34.00 to $35.00 and gave the company a "buy" rating in a research note on Friday, August 2nd. Wells Fargo & Company reduced their price objective on 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. Capital One Financial initiated coverage on shares of Magnolia Oil & Gas in a research note on Tuesday, June 11th. They set an "overweight" rating and a $28.00 price target on the stock. Susquehanna reduced 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. Finally, Wolfe Research began coverage on Magnolia Oil & Gas in a report on Thursday, July 18th. They set an "outperform" rating and a $32.00 price target on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $28.60.

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.