Kapitalo Investimentos Ltda Makes New $320,000 Investment in Magnolia Oil & Gas Co. (NYSE:MGY)

Kapitalo Investimentos Ltda acquired a new stake in Magnolia Oil & Gas Co. (NYSE:MGY) during the third quarter, Holdings Channel.com reports. The firm acquired 13,118 shares of the company’s stock, valued at approximately $320,000.

Several other institutional investors have also modified their holdings of MGY. Foster Victor Wealth Advisors LLC raised its stake in Magnolia Oil & Gas by 42.1% in the third quarter. Foster Victor Wealth Advisors LLC now owns 294,738 shares of the company’s stock valued at $7,781,000 after buying an additional 87,292 shares in the last quarter. Creative Planning increased its holdings in shares of Magnolia Oil & Gas by 8.3% in the 3rd quarter. Creative Planning now owns 68,878 shares of the company’s stock valued at $1,682,000 after acquiring an additional 5,289 shares during the last quarter. Oliver Luxxe Assets LLC lifted its stake in Magnolia Oil & Gas by 80.6% during the third quarter. Oliver Luxxe Assets LLC now owns 87,624 shares of the company’s stock worth $2,140,000 after purchasing an additional 39,098 shares during the last quarter. Exchange Traded Concepts LLC acquired a new position in Magnolia Oil & Gas in the third quarter valued at approximately $846,000. Finally, GAMMA Investing LLC increased its stake in Magnolia Oil & Gas by 62.4% in the third quarter. GAMMA Investing LLC now owns 2,609 shares of the company’s stock valued at $64,000 after purchasing an additional 1,002 shares during the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Magnolia Oil & Gas news, Director Ltd. Enervest sold 7,000,000 shares of Magnolia Oil & Gas stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $25.86, for a total value of $181,020,000.00. Following the sale, the director now owns 2,099,403 shares of the company’s stock, valued at approximately $54,290,561.58. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is currently owned by corporate insiders.

Magnolia Oil & Gas Trading Down 4.4 %

NYSE:MGY opened at $25.56 on Wednesday. Magnolia Oil & Gas Co. has a 12-month low of $19.16 and a 12-month high of $27.63. 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 stock’s 50 day simple moving average is $25.05 and its 200-day simple moving average is $25.42. The firm has a market cap of $5.18 billion, a P/E ratio of 12.72, a PEG ratio of 1.35 and a beta of 1.99.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.05. The company 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%. Equities analysts anticipate that Magnolia Oil & Gas Co. will post 1.99 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 2.03%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 25.87%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Mizuho lowered their target price on shares of Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Truist Financial decreased their price objective on shares of Magnolia Oil & Gas from $35.00 to $31.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Benchmark reiterated a “hold” rating on shares of Magnolia Oil & Gas in a research report on Tuesday. Susquehanna decreased their target price on Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Finally, Siebert Williams Shank downgraded Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price target on the stock. in a research note on Tuesday. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, Magnolia Oil & Gas has an average rating of “Hold” and an average target price of $27.50.

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.