Magnolia Oil & Gas Co. (NYSE:MGY) Shares Sold by F M Investments LLC

F M Investments LLC cut its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 1.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 455,714 shares of the company’s stock after selling 5,016 shares during the quarter. F M Investments LLC owned about 0.22% of Magnolia Oil & Gas worth $11,129,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Magnolia Oil & Gas by 16.6% during 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 during the last quarter. American Century Companies Inc. raised its position in Magnolia Oil & Gas by 9.9% in the second quarter. American Century Companies Inc. now owns 9,389,368 shares of the company’s stock valued at $237,927,000 after purchasing an additional 847,542 shares during the period. Dimensional Fund Advisors LP lifted its stake in Magnolia Oil & Gas by 16.1% during the second quarter. Dimensional Fund Advisors LP now owns 4,520,725 shares of the company’s stock worth $114,554,000 after purchasing an additional 627,933 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Magnolia Oil & Gas by 1.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,061,846 shares of the company’s stock worth $74,770,000 after buying an additional 50,351 shares during the period. Finally, Boston Trust Walden Corp grew its stake in shares of Magnolia Oil & Gas by 4.4% in the third quarter. Boston Trust Walden Corp now owns 2,823,126 shares of the company’s stock valued at $68,941,000 after buying an additional 119,582 shares in the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MGY has been the topic of a number of recent research reports. Bank of America boosted their price target on shares of Magnolia Oil & Gas from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Wells Fargo & Company downgraded Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $26.00 to $22.00 in a report on Tuesday, October 1st. Mizuho dropped their price target on shares of Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Siebert Williams Shank downgraded shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a research report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. cut their price target on shares of Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $27.67.

Magnolia Oil & Gas Price Performance

NYSE MGY traded down $0.28 during mid-day trading on Friday, hitting $25.00. The stock had a trading volume of 1,773,159 shares, compared to its average volume of 1,852,186. The company has a 50 day simple moving average of $25.31 and a 200 day simple moving average of $25.36. The company has a quick ratio of 1.28, a current ratio of 1.47 and a debt-to-equity ratio of 0.20. The company has a market cap of $4.98 billion, a price-to-earnings ratio of 12.37, a P/E/G ratio of 1.29 and a beta of 1.99. Magnolia Oil & Gas Co. has a 52-week low of $19.16 and a 52-week high of $27.63.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.04. Magnolia Oil & Gas had a return on equity of 20.78% and a net margin of 28.88%. The business had revenue of $333.14 million during the quarter, compared to the consensus estimate of $331.45 million. Equities analysts forecast that Magnolia Oil & Gas Co. will post 1.99 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Friday, November 8th. Magnolia Oil & Gas’s dividend payout ratio is presently 25.74%.

Insider Activity at Magnolia Oil & Gas

In other news, Director Ltd. Enervest sold 7,000,000 shares of Magnolia Oil & Gas stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $25.86, for a total transaction of $181,020,000.00. Following the completion of the sale, the director now directly owns 2,099,403 shares in the company, valued at $54,290,561.58. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.20% of the stock is currently owned by corporate insiders.

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.