Oliver Luxxe Assets LLC Has $1.55 Million Stake in Magnolia Oil & Gas Corp $MGY

Oliver Luxxe Assets LLC trimmed its position in Magnolia Oil & Gas Corp (NYSE:MGY) by 38.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 60,651 shares of the company’s stock after selling 37,763 shares during the period. Oliver Luxxe Assets LLC’s holdings in Magnolia Oil & Gas were worth $1,551,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Lido Advisors LLC grew its holdings in shares of Magnolia Oil & Gas by 2.4% during the fourth quarter. Lido Advisors LLC now owns 16,197 shares of the company’s stock worth $382,000 after buying an additional 387 shares in the last quarter. Oak Family Advisors LLC lifted its stake in Magnolia Oil & Gas by 0.9% in the 4th quarter. Oak Family Advisors LLC now owns 47,620 shares of the company’s stock valued at $1,042,000 after acquiring an additional 410 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in Magnolia Oil & Gas by 10.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,624 shares of the company’s stock valued at $102,000 after acquiring an additional 422 shares in the last quarter. Coldstream Capital Management Inc. boosted its position in Magnolia Oil & Gas by 3.1% during the 3rd quarter. Coldstream Capital Management Inc. now owns 15,937 shares of the company’s stock worth $380,000 after acquiring an additional 482 shares during the last quarter. Finally, Stifel Financial Corp boosted its position in Magnolia Oil & Gas by 1.6% during the 4th quarter. Stifel Financial Corp now owns 36,980 shares of the company’s stock worth $809,000 after acquiring an additional 585 shares during the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Truist Financial upgraded shares of Magnolia Oil & Gas from a “hold” rating to a “buy” rating and lifted their price objective for the company from $32.00 to $33.00 in a report on Tuesday, July 28th. Wells Fargo & Company reduced their target price on shares of Magnolia Oil & Gas from $32.00 to $31.00 and set an “equal weight” rating for the company in a report on Wednesday, May 13th. Weiss Ratings downgraded shares of Magnolia Oil & Gas from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 21st. KeyCorp reiterated an “overweight” rating on shares of Magnolia Oil & Gas in a research note on Monday, June 29th. Finally, UBS Group cut their price target on shares of Magnolia Oil & Gas from $38.00 to $34.00 and set a “buy” rating on the stock in a research report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, Magnolia Oil & Gas has an average rating of “Moderate Buy” and a consensus target price of $31.50.

Magnolia Oil & Gas Price Performance

Shares of MGY opened at $25.07 on Monday. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.18. The company’s fifty day simple moving average is $26.19 and its 200 day simple moving average is $27.63. Magnolia Oil & Gas Corp has a 1-year low of $21.07 and a 1-year high of $32.76. The company has a market cap of $4.64 billion, a price-to-earnings ratio of 10.99 and a beta of 0.72.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.06. The company had revenue of $478.81 million during the quarter, compared to the consensus estimate of $458.10 million. Magnolia Oil & Gas had a net margin of 28.77% and a return on equity of 21.04%. The company’s quarterly revenue was up 50.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.41 EPS. On average, research analysts forecast that Magnolia Oil & Gas Corp will post 2.81 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 10th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.9%. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Monday, August 10th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 28.95%.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corp (NYSE: MGY) is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties.

The company’s core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs).