Phocas Financial Corp., an institutional investor, recently disclosed a decrease in its position in shares of Magnolia Oil & Gas Co. during the second quarter of 2023. The company sold approximately 33.5% of its shares, reducing its ownership by 65,129 shares. As a result, Phocas Financial Corp. now owns 129,424 shares of the company’s stock, worth an estimated $2,705,000.
Magnolia Oil & Gas (NYSE:MGY) recently reported its quarterly earnings data on August 1st. The company surpassed analysts’ expectations by reporting earnings per share of $0.44 for the quarter, beating the consensus estimate of $0.43 by $0.01. However, its revenue for the quarter was $280.29 million, falling short of analysts’ expectations of $291.74 million.
Despite this revenue miss, Magnolia Oil & Gas had a strong return on equity of 35.63% and a net margin of 46.81%. This indicates the company’s ability to generate profits from shareholder investments and maintain a healthy profit margin.
Looking ahead to the rest of the fiscal year, analysts predict that Magnolia Oil & Gas Co. will post earnings per share of approximately 2.12 for the current fiscal year.
It is important to note that investors should conduct their own research and analysis before making any investment decisions based on this information.
In conclusion, Phocas Financial Corp’s reduction in its ownership stake in Magnolia Oil & Gas Co., along with the company’s recent earnings report and analyst predictions for future performance, provides valuable insight into the state of this energy corporation and its potential profitability moving forward.
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Analyzing Investor Stakes and Stock Performance of Magnolia Oil & Gas in September 2023
September 20, 2023
Magnolia Oil & Gas: A Closer Look at Investor Stakes and Stock Performance
In recent months, several prominent investors have made significant changes to their positions in Magnolia Oil & Gas. BlackRock Inc., for instance, raised its stake in the company by 32.5% during the first quarter of this year. As a result, BlackRock now owns a total of 16,647,384 shares valued at $364,245,000. Similarly, Vanguard Group Inc. increased its position by 1.0% during the third quarter and currently holds 16,316,045 shares worth $323,220,000.
T. Rowe Price Investment Management Inc., on the other hand, raised its stake by only 0.4% in the fourth quarter but still holds a considerable sum of 15,720,703 shares valued at $368,651,000. Meanwhile won Wellington Management Group LLP also saw a modest increase of 4.9% during the first quarter taking its total holdings to 7,528,720 shares worth $178,054 million.
First Trust Advisors LP stands out with an enormous increase of 562.8%, as it purchased an additional 7,5793743 shares during the first quarter bringing its overall holdings to a remarkable $195312 million.
It is worth mentioning that these figures only represent a fraction of Magnolia Oil & Gas’s stock ownership since hedge funds and other institutional investors account for approximately 94.73% of the company’s stock.
Analyzing Magnolia Oil & Gas’ performance on Wednesday reveals that its stock opened at $22.85 with a fifty-day simple moving average of $22.45 and a two-hundred-day simple moving average of $21.37.
As for its financial aspects: The company maintains a debt-to-equity ratio is relatively low at 0.22, and a quick ratio of 3.10, indicating a strong financial position. These key financial indicators assure stability and suggest significant room for future growth.
The market capitalization for Magnolia Oil & Gas currently stands at $4.79 billion with a price-to-earnings ratio of 6.59 and a beta of 2.11. The company has experienced fluctuations in its stock value over the past year, reaching as low as $18.17 but hitting a peak of $27.57.
Additionally, Magnolia Oil & Gas recently announced the payment of a quarterly dividend that was disbursed on September 1st, providing shareholders of record on August 10th with $0.115 per share as part of an annualized dividend payout of $0.46 per share yielding approximately 2.01%.
Various equities research analysts have voiced their opinions on Magnolia Oil & Gas stocks, with Piper Sandler lowering their price target from $33.00 to $29.00 in a research report released on June 13th this year.
Truist Financial, however, expressed more optimism by increasing the price objective to $29.00 and assigning a “buy” rating on September 6th.
Similarly, Mizuho tagged Magnolia Oil & Gas with a “neutral” rating after raising the price objective from $25 to $26 per share on September 6th.
Overall, data from Bloomberg indicates that Magnolia Oil & Gas presently holds a consensus rating of “Moderate Buy,” while the average target price for its shares is estimated at around $27.50.
Investors who closely monitor these trends and ratings may now have a clearer understanding of where Magnolia Oil & Gas stands in terms of investor interests and market performance as it moves forward into the future.
