AMG National Trust Bank Sells 5,027 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

AMG National Trust Bank reduced its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 7.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 60,481 shares of the company’s stock after selling 5,027 shares during the period. AMG National Trust Bank’s holdings in Magnolia Oil & Gas were worth $1,477,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised 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 worth $538,654,000 after acquiring an additional 2,956,314 shares during the last quarter. Oliver Luxxe Assets LLC increased its position in Magnolia Oil & Gas by 80.6% during the 3rd quarter. Oliver Luxxe Assets LLC now owns 87,624 shares of the company’s stock valued at $2,140,000 after purchasing an additional 39,098 shares during the period. Argent Capital Management LLC raised its holdings in Magnolia Oil & Gas by 56.8% during the 2nd quarter. Argent Capital Management LLC now owns 29,111 shares of the company’s stock worth $738,000 after purchasing an additional 10,547 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its position in shares of Magnolia Oil & Gas by 740.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 157,757 shares of the company’s stock worth $4,092,000 after purchasing an additional 138,982 shares during the period. Finally, Comerica Bank boosted its stake in shares of Magnolia Oil & Gas by 38.8% in the 1st quarter. Comerica Bank now owns 172,569 shares of the company’s stock valued at $4,478,000 after purchasing an additional 48,228 shares during the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

Magnolia Oil & Gas Price Performance

Shares of NYSE:MGY opened at $27.45 on Tuesday. The stock’s 50 day moving average is $25.69 and its 200-day moving average is $25.43. Magnolia Oil & Gas Co. has a twelve month low of $19.16 and a twelve month high of $27.96. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $5.40 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 1.37 and a beta of 1.99.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. The firm had revenue of $333.14 million during the quarter, compared to analyst estimates of $331.45 million. Magnolia Oil & Gas had a return on equity of 20.78% and a net margin of 28.88%. Sell-side analysts forecast that Magnolia Oil & Gas Co. will post 1.99 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Friday, November 8th. Magnolia Oil & Gas’s dividend payout ratio is presently 25.74%.

Insider Buying and Selling

In other Magnolia Oil & Gas 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 value of $181,020,000.00. Following the sale, the director now owns 2,099,403 shares of the company’s stock, valued at approximately $54,290,561.58. The trade was a 76.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.40% of the stock is owned by insiders.

Analysts Set New Price Targets

MGY has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Wells Fargo & Company downgraded Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $26.00 to $22.00 in a research note on Tuesday, October 1st. Truist Financial raised their target price on Magnolia Oil & Gas from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Bank of America boosted their price target on Magnolia Oil & Gas from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Finally, Piper Sandler cut their price target on Magnolia Oil & Gas from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $27.67.

About Magnolia Oil & Gas

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.