Castleark Management LLC Boosts Stake in Magnolia Oil & Gas Co. (NYSE:MGY)

Castleark Management LLC lifted its holdings in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 115.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 180,730 shares of the company's stock after buying an additional 96,900 shares during the period. Castleark Management LLC owned approximately 0.09% of Magnolia Oil & Gas worth $4,413,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. First Horizon Advisors Inc. raised its stake in shares of Magnolia Oil & Gas by 64.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company's stock valued at $25,000 after acquiring an additional 396 shares during the period. Jennison Associates LLC lifted its stake in Magnolia Oil & Gas by 2.2% in the third quarter. Jennison Associates LLC now owns 23,836 shares of the company's stock worth $582,000 after acquiring an additional 506 shares during the last quarter. Atria Investments Inc increased its holdings in Magnolia Oil & Gas by 2.3% in the third quarter. Atria Investments Inc now owns 23,576 shares of the company's stock valued at $576,000 after buying an additional 523 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Magnolia Oil & Gas by 1.0% in the third quarter. PNC Financial Services Group Inc. now owns 52,834 shares of the company's stock valued at $1,290,000 after purchasing an additional 548 shares in the last quarter. Finally, Bank of Montreal Can grew its position in shares of Magnolia Oil & Gas by 1.8% in the 2nd quarter. Bank of Montreal Can now owns 36,716 shares of the company's stock valued at $931,000 after buying an additional 640 shares during the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Magnolia Oil & Gas Stock Down 3.7 %

Shares of NYSE:MGY traded down $0.98 during midday trading on Friday, hitting $25.67. The stock had a trading volume of 1,357,155 shares, compared to its average volume of 1,431,169. 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 company has a market cap of $5.05 billion, a P/E ratio of 12.71, a PEG ratio of 1.35 and a beta of 1.99. Magnolia Oil & Gas Co. has a 12 month low of $19.16 and a 12 month high of $29.02. The business's 50-day simple moving average is $26.58 and its 200-day simple moving average is $25.62.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.04. The business had revenue of $333.14 million for the quarter, compared to analysts' expectations of $331.45 million. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.78%. On average, sell-side analysts forecast that Magnolia Oil & Gas Co. will post 1.99 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend was Friday, November 8th. Magnolia Oil & Gas's dividend payout ratio (DPR) is currently 25.74%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on MGY shares. Benchmark restated a "hold" rating on shares of Magnolia Oil & Gas in a research report on Tuesday, October 15th. Truist Financial increased their target price on shares of Magnolia Oil & Gas from $31.00 to $33.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Susquehanna cut their target price on Magnolia Oil & Gas from $33.00 to $32.00 and set a "positive" rating on the stock in a research report on Wednesday, September 4th. Mizuho decreased their target price on Magnolia Oil & Gas from $28.00 to $27.00 and set a "neutral" rating for the company in a research note on Monday, September 16th. Finally, Piper Sandler reduced their price objective on shares of 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. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $27.67.

Insider Buying and Selling at Magnolia Oil & Gas

In related news, Director Ltd. Enervest sold 7,000,000 shares of Magnolia Oil & Gas stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 2,099,403 shares in the company, valued at approximately $54,290,561.58. The trade was a 76.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.20% of the company's stock.

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.