GAMMA Investing LLC owns a $41,000 stake in Magnolia Oil & Gas Co. (NYSE:MGY)

GAMMA Investing LLC increased its holdings in Magnolia Oil & Gas Co. (NYSE:MGY – Free Report) by 184.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,607 shares of the company’s stock after purchasing an additional 1,042 shares during the quarter. GAMMA Investing LLC’s holdings in Magnolia Oil & Gas were worth $41,000, according to its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in MGY. Vanguard Group Inc. increased its holdings in Magnolia Oil & Gas by 16.6% in the first quarter. Vanguard Group Inc. now owns 20,757,369 shares of the company’s stock valued at $538,654,000 after acquiring an additional 2,956,314 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Magnolia Oil & Gas by 2,799.2% in the first quarter. Principal Financial Group Inc. now owns 1,881,039 shares of the company’s stock valued at $48,813,000 after acquiring an additional 1,816,158 shares in the last quarter. First Trust Advisors LP increased its holdings in Magnolia Oil & Gas by 20.2% in the fourth quarter. First Trust Advisors LP now owns 10,126,891 shares of the company’s stock valued at $215,602,000 after purchasing an additional 1,704,982 shares in the last quarter. Ranger Investment Management LP acquired a new stake in Magnolia Oil & Gas in the fourth quarter valued at approximately $25,226,000. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Magnolia Oil & Gas in the first quarter valued at approximately $30,161,000. Institutional investors and hedge funds own 94.73% of the company’s stock.

Upgrades and downgrades by analysts

Several analysts have recently commented on the company. Wolfe Research assumed coverage on Magnolia Oil & Gas in a report on Thursday, July 18. They issued an “outperform” rating and a $32.00 price target on the stock. Piper Sandler reiterated a “neutral” rating and issued a $29.00 price target on shares of Magnolia Oil & Gas in a report on Friday, April 19. Wells Fargo & Company lowered their price target on Magnolia Oil & Gas from $27.00 to $26.00 in a report on Monday, August 5 and gave the stock an “equal weight” rating in a report on Monday. Mizuho increased their price target on Magnolia Oil & Gas from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, May 13. Finally, Susquehanna raised their price target on Magnolia Oil & Gas from $31.00 to $33.00 and gave the stock a “positive” rating in a report on Monday, July 22. One analyst rated the stock a “sell,” four gave it a “hold” rating, and six gave it a “buy” rating. According to MarketBeat, the stock has an average rating of “hold” and a consensus price target of $29.00.

Check out our latest stock report on MGY

Insider activities at Magnolia Oil & Gas

In related news, Director John B. Walker sold 12,000,000 shares of the company’s stock on Tuesday, May 14. The shares were sold at an average price of $25.58, for a total value of $306,960,000.00. Following the completion of the sale, the director now directly owns 4,164,961 shares of the company’s stock, valued at approximately $106,539,702.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.20% of the shares are currently owned by insiders.

Price development for Magnolia Oil & Gas

Shares of NYSE:MGY opened at $24.30 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.21. Magnolia Oil & Gas Co. has a twelve-month low of $19.16 and a twelve-month high of $27.63. The stock’s 50-day moving average is $25.33 and its 200-day moving average is $24.54. The company has a market cap of $4.93 billion, a price-to-earnings ratio of 12.09, a PEG ratio of 0.84 and a beta of 2.02.

Dividend announcement for Magnolia Oil & Gas

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be given a dividend of $0.13 per share. This represents an annualized dividend of $0.52 and a dividend yield of 2.14%. The ex-dividend date is Friday, August 9th. Magnolia Oil & Gas’s payout ratio is 25.87%.

About Magnolia Oil & Gas

(Free report)

Magnolia Oil & Gas Corporation, an independent oil and natural gas company, is engaged 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 of South Texas and consist primarily of the Eagle Ford Shale and Austin Chalk formations.