Duality Advisers LP Decreases Stock Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Duality Advisers LP trimmed its position in shares of Magnolia Oil & Gas Co. (NYSE:MGYGet Rating) by 27.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 32,332 shares of the company’s stock after selling 12,350 shares during the quarter. Duality Advisers LP’s holdings in Magnolia Oil & Gas were worth $640,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Ten Capital Wealth Advisors LLC purchased a new position in shares of Magnolia Oil & Gas in the 2nd quarter valued at approximately $28,000. CWM LLC raised its position in shares of Magnolia Oil & Gas by 60.6% in the 3rd quarter. CWM LLC now owns 1,635 shares of the company’s stock valued at $32,000 after purchasing an additional 617 shares during the last quarter. Exchange Traded Concepts LLC purchased a new position in shares of Magnolia Oil & Gas in the 3rd quarter valued at approximately $56,000. Assetmark Inc. raised its position in shares of Magnolia Oil & Gas by 311.4% in the 2nd quarter. Assetmark Inc. now owns 2,880 shares of the company’s stock valued at $60,000 after purchasing an additional 2,180 shares during the last quarter. Finally, Rockefeller Capital Management L.P. raised its position in shares of Magnolia Oil & Gas by 65.1% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 3,648 shares of the company’s stock valued at $72,000 after purchasing an additional 1,439 shares during the last quarter. 98.60% of the stock is owned by hedge funds and other institutional investors.

Magnolia Oil & Gas Price Performance

Magnolia Oil & Gas stock opened at $23.30 on Wednesday. The company’s fifty day moving average price is $23.88 and its 200 day moving average price is $23.37. Magnolia Oil & Gas Co. has a 1 year low of $18.01 and a 1 year high of $30.31. The stock has a market capitalization of $5.04 billion, a P/E ratio of 5.38 and a beta of 2.13. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.63 and a current ratio of 2.63.

Magnolia Oil & Gas (NYSE:MGYGet Rating) last announced its quarterly earnings data on Tuesday, November 1st. The company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.11. The company had revenue of $482.96 million for the quarter, compared to analyst estimates of $454.87 million. Magnolia Oil & Gas had a return on equity of 66.39% and a net margin of 48.42%. As a group, equities research analysts anticipate that Magnolia Oil & Gas Co. will post 4.48 earnings per share for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 1st. Shareholders of record on Monday, November 7th were issued a $0.10 dividend. The ex-dividend date was Friday, November 4th. This represents a $0.40 dividend on an annualized basis and a yield of 1.72%. Magnolia Oil & Gas’s payout ratio is currently 9.24%.

Analysts Set New Price Targets

MGY has been the topic of several research reports. KeyCorp increased their price target on shares of Magnolia Oil & Gas from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, November 3rd. Mizuho initiated coverage on shares of Magnolia Oil & Gas in a report on Monday, January 9th. They issued a “buy” rating and a $32.00 price target on the stock. TheStreet downgraded shares of Magnolia Oil & Gas from a “b-” rating to a “c+” rating in a report on Wednesday, December 7th. Finally, Piper Sandler cut their price target on shares of Magnolia Oil & Gas from $36.00 to $35.00 and set an “overweight” rating on the stock in a report on Wednesday, January 11th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $31.25.

About Magnolia Oil & Gas

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Magnolia Oil & Gas Corporation 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 Field in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.

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Institutional Ownership by Quarter for Magnolia Oil & Gas (NYSE:MGY)

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