Valley Wealth Managers Inc. Has $16.73 Million Stock Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Valley Wealth Managers Inc. lowered its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 6.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 660,388 shares of the company's stock after selling 45,461 shares during the quarter. Valley Wealth Managers Inc. owned approximately 0.33% of Magnolia Oil & Gas worth $16,734,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV lifted its holdings in 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 buying an additional 982 shares during the period. Opal Wealth Advisors LLC acquired a new position in shares of Magnolia Oil & Gas in the 2nd quarter valued at $26,000. Mather Group LLC. bought a new position in shares of Magnolia Oil & Gas in the 1st quarter worth $27,000. Private Wealth Management Group LLC acquired a new stake in shares of Magnolia Oil & Gas during the fourth quarter worth $33,000. Finally, GAMMA Investing LLC increased its holdings 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 during the last quarter. Institutional investors own 94.73% of the company's stock.

Magnolia Oil & Gas Stock Up 1.2 %

Shares of MGY traded up $0.29 during midday trading on Friday, hitting $23.84. The stock had a trading volume of 1,317,802 shares, compared to its average volume of 2,620,375. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.28 and a quick ratio of 1.28. The firm has a market cap of $4.75 billion, a price-to-earnings ratio of 11.72, a price-to-earnings-growth ratio of 1.11 and a beta of 2.00. The company has a 50 day simple moving average of $25.25 and a two-hundred day simple moving average of $25.15. 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 released its earnings results on Wednesday, July 31st. The company reported $0.56 EPS for the quarter, beating the consensus estimate 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 return on equity of 21.18% and a net margin of 29.44%. On average, analysts anticipate 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. Investors of record on Friday, August 9th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date was Friday, August 9th. Magnolia Oil & Gas's dividend payout ratio (DPR) is currently 25.87%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Wolfe Research initiated coverage on Magnolia Oil & Gas in a report on Thursday, July 18th. They set an "outperform" rating and a $32.00 target price on the stock. Truist Financial boosted their price objective on shares of Magnolia Oil & Gas from $34.00 to $35.00 and gave the company a "buy" rating in a report on Friday, August 2nd. Bank of America increased their target price on shares of Magnolia Oil & Gas from $28.00 to $29.00 and gave the stock a "buy" rating in a report on Tuesday, July 23rd. Wells Fargo & Company decreased 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 report on Monday, August 5th. Finally, Susquehanna dropped their price objective on Magnolia Oil & Gas from $33.00 to $32.00 and set a "positive" rating on the stock in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Magnolia Oil & Gas currently has an average rating of "Hold" and an average target price of $28.09.

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.