Signaturefd LLC Has $282,000 Stock Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Signaturefd LLC lifted its stake in Magnolia Oil & Gas Co. (NYSE:MGY) by 14.5% during the second quarter, Holdings Channel.com reports. The fund owned 11,112 shares of the company’s stock after buying an additional 1,409 shares during the period. Signaturefd LLC’s holdings in Magnolia Oil & Gas were worth $282,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of MGY. Lindbrook Capital LLC grew its stake in Magnolia Oil & Gas by 61.5% in the first quarter. Lindbrook Capital LLC now owns 1,647 shares of the company’s stock valued at $43,000 after purchasing an additional 627 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in shares of Magnolia Oil & Gas by 5.9% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,156 shares of the company’s stock worth $280,000 after purchasing an additional 730 shares in the last quarter. Commerce Bank boosted its holdings in shares of Magnolia Oil & Gas by 4.0% in the 4th quarter. Commerce Bank now owns 24,820 shares of the company’s stock valued at $528,000 after buying an additional 945 shares during the last quarter. Fulton Bank N.A. grew its stake in shares of Magnolia Oil & Gas by 10.3% in the second quarter. Fulton Bank N.A. now owns 10,411 shares of the company’s stock valued at $264,000 after buying an additional 968 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its holdings in Magnolia Oil & Gas by 1,753.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,038 shares of the company’s stock worth $26,000 after buying an additional 982 shares during the last quarter. Institutional investors own 94.73% of the company’s stock.

Wall Street Analysts Forecast Growth

MGY has been the subject of a number of recent analyst reports. Capital One Financial initiated coverage on shares of Magnolia Oil & Gas in a research note on Tuesday, June 11th. They issued an “overweight” rating and a $28.00 price target for the company. Mizuho raised their target price on shares of Magnolia Oil & Gas from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. 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 target on the stock. Piper Sandler cut their price objective on Magnolia Oil & Gas from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. Finally, Bank of America lifted their target price on Magnolia Oil & Gas from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $28.70.

Magnolia Oil & Gas Stock Performance

NYSE:MGY opened at $25.61 on Monday. The stock has a 50 day simple moving average of $25.53 and a 200 day simple moving average of $25.06. The stock has a market cap of $5.10 billion, a P/E ratio of 12.74, a PEG ratio of 1.22 and a beta of 2.02. Magnolia Oil & Gas Co. has a 1-year low of $19.16 and a 1-year 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.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.56 earnings per share for the quarter, topping 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%. Research analysts anticipate that Magnolia Oil & Gas Co. will post 2.13 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Friday, August 9th. Magnolia Oil & Gas’s dividend payout ratio is currently 25.87%.

Magnolia Oil & Gas 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.