Massmutual Trust Co. FSB ADV Raises Stock Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Massmutual Trust Co. FSB ADV lifted its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 1,753.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,038 shares of the company’s stock after purchasing an additional 982 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Magnolia Oil & Gas were worth $26,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in MGY. Mather Group LLC. purchased a new position in Magnolia Oil & Gas in the 1st quarter valued at approximately $27,000. Private Wealth Management Group LLC purchased a new position in Magnolia Oil & Gas in the fourth quarter valued at $33,000. GAMMA Investing LLC boosted 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 period. Lindbrook Capital LLC grew its stake in Magnolia Oil & Gas by 61.5% during the 1st quarter. Lindbrook Capital LLC now owns 1,647 shares of the company’s stock worth $43,000 after purchasing an additional 627 shares in the last quarter. Finally, Fidelis Capital Partners LLC purchased a new stake in Magnolia Oil & Gas during the 1st quarter worth about $50,000. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Performance

Shares of MGY stock opened at $23.53 on Wednesday. The stock’s 50-day moving average is $25.41 and its two-hundred day moving average is $24.48. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.71 and a current ratio of 1.28. Magnolia Oil & Gas Co. has a 1 year low of $19.16 and a 1 year high of $27.63. The firm has a market cap of $4.77 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 0.90 and a beta of 2.02.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Tuesday, May 7th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.05. The firm had revenue of $319.42 million during the quarter, compared to analysts’ expectations of $308.21 million. Magnolia Oil & Gas had a return on equity of 21.18% and a net margin of 29.44%. Analysts predict that Magnolia Oil & Gas Co. will post 2.22 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.21%. The ex-dividend date is Friday, August 9th. Magnolia Oil & Gas’s payout ratio is currently 25.87%.

Insider Transactions at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, Director John B. Walker sold 12,000,000 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $25.58, for a total transaction of $306,960,000.00. Following the transaction, the director now directly owns 4,164,961 shares of the company’s stock, valued at approximately $106,539,702.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on MGY shares. Wolfe Research assumed coverage on Magnolia Oil & Gas in a research report on Thursday, July 18th. They set an “outperform” rating and a $32.00 price objective for the company. Truist Financial boosted their price target on shares of Magnolia Oil & Gas from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Bank of America raised their price objective on shares of Magnolia Oil & Gas from $28.00 to $29.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Citigroup boosted their target price on shares of Magnolia Oil & Gas from $18.00 to $22.00 and gave the stock a “sell” rating in a research note on Monday, April 15th. Finally, Capital One Financial assumed coverage on Magnolia Oil & Gas in a research note on Tuesday, June 11th. They issued an “overweight” rating and a $28.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $29.00.

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.