Charles Schwab Investment Management Inc. Raises Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Charles Schwab Investment Management Inc. grew its stake in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 3.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,991,017 shares of the company's stock after purchasing an additional 75,305 shares during the period. Charles Schwab Investment Management Inc. owned about 1.01% of Magnolia Oil & Gas worth $48,621,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in MGY. American Century Companies Inc. lifted its position in shares of Magnolia Oil & Gas by 9.9% in the 2nd quarter. American Century Companies Inc. now owns 9,389,368 shares of the company's stock worth $237,927,000 after purchasing an additional 847,542 shares during the period. Dimensional Fund Advisors LP increased its stake in Magnolia Oil & Gas by 16.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,520,725 shares of the company's stock valued at $114,554,000 after purchasing an additional 627,933 shares in the last quarter. SIR Capital Management L.P. purchased a new position in Magnolia Oil & Gas during the 2nd quarter worth $15,106,000. Boston Trust Walden Corp boosted its holdings in Magnolia Oil & Gas by 26.7% during the 2nd quarter. Boston Trust Walden Corp now owns 2,703,544 shares of the company's stock worth $68,508,000 after acquiring an additional 568,998 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. purchased a new position in shares of Magnolia Oil & Gas in the 2nd quarter worth about $14,201,000. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on MGY. Siebert Williams Shank downgraded shares of Magnolia Oil & Gas from a "buy" rating to a "hold" rating and set a $30.00 price objective on the stock. in a report on Tuesday, October 15th. Benchmark restated a "hold" rating on shares of Magnolia Oil & Gas in a research report on Tuesday, October 15th. Mizuho dropped their price objective 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. Truist Financial raised their price target 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. Finally, JPMorgan Chase & Co. decreased their price objective on Magnolia Oil & Gas from $26.00 to $23.00 and set a "neutral" rating for the company in a report on Thursday, September 12th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Magnolia Oil & Gas has a consensus rating of "Hold" and a consensus target price of $27.67.

Insider Transactions at Magnolia Oil & Gas

In related news, Director Ltd. Enervest sold 7,000,000 shares of the business's stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $25.86, for a total transaction of $181,020,000.00. Following the completion of the transaction, the director now directly owns 2,099,403 shares of the company's stock, valued at $54,290,561.58. The trade was a 76.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.20% of the company's stock.

Magnolia Oil & Gas Trading Down 1.3 %

NYSE:MGY traded down $0.37 during midday trading on Monday, hitting $27.37. 2,207,222 shares of the company traded hands, compared to its average volume of 2,463,920. Magnolia Oil & Gas Co. has a 12-month low of $19.16 and a 12-month high of $29.02. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. The firm's fifty day moving average is $26.42 and its 200-day moving average is $25.59. The firm has a market capitalization of $5.38 billion, a P/E ratio of 13.55, a P/E/G ratio of 1.41 and a beta of 1.99.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.52 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $333.14 million during the quarter, compared to analysts' expectations of $331.45 million. On average, sell-side analysts predict that Magnolia Oil & Gas Co. will post 1.99 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date is Friday, November 8th. Magnolia Oil & Gas's dividend payout ratio is presently 25.74%.

Magnolia Oil & Gas 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.