Magnolia Oil & Gas Co. (NYSE:MGY) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. grew its stake in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 6.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 364,364 shares of the company's stock after acquiring an additional 23,560 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.19% of Magnolia Oil & Gas worth $8,898,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Harbor Capital Advisors Inc. acquired a new position in Magnolia Oil & Gas in the third quarter valued at $25,000. Massmutual Trust Co. FSB ADV increased its stake in Magnolia Oil & Gas by 1,753.6% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,038 shares of the company's stock valued at $26,000 after purchasing an additional 982 shares during the last quarter. Opal Wealth Advisors LLC acquired a new position in Magnolia Oil & Gas in the second quarter valued at $26,000. GAMMA Investing LLC increased its stake in Magnolia Oil & Gas by 184.4% in the second quarter. GAMMA Investing LLC now owns 1,607 shares of the company's stock valued at $41,000 after purchasing an additional 1,042 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in Magnolia Oil & Gas by 61.9% in the second quarter. Nisa Investment Advisors LLC now owns 2,850 shares of the company's stock valued at $72,000 after purchasing an additional 1,090 shares during the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Magnolia Oil & Gas Stock Up 2.0 %

MGY traded up $0.56 on Friday, reaching $28.79. The company's stock had a trading volume of 2,462,589 shares, compared to its average volume of 2,480,981. The stock has a market cap of $5.66 billion, a price-to-earnings ratio of 14.36, a price-to-earnings-growth ratio of 1.39 and a beta of 1.99. Magnolia Oil & Gas Co. has a 1 year low of $19.16 and a 1 year high of $29.02. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.47 and a quick ratio of 1.47. The business's 50 day moving average is $26.04 and its 200 day moving average is $25.50.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued 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. The firm had revenue of $333.14 million during the quarter, compared to the consensus estimate of $331.45 million. Magnolia Oil & Gas had a return on equity of 20.78% and a net margin of 28.88%. As a group, research analysts forecast that Magnolia Oil & Gas Co. will post 1.99 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date is Friday, November 8th. Magnolia Oil & Gas's dividend payout ratio is presently 25.74%.

Insiders Place Their Bets

In other Magnolia Oil & Gas news, Director Ltd. Enervest sold 7,000,000 shares of the stock in a transaction that occurred 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 transaction, the director now owns 2,099,403 shares of the company's stock, valued at $54,290,561.58. This trade represents a 76.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the company. JPMorgan Chase & Co. dropped their target price on 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. Piper Sandler dropped their price target on Magnolia Oil & Gas from $29.00 to $26.00 and set a "neutral" rating for the company in a research note on Thursday, August 15th. Benchmark restated a "hold" rating on shares of Magnolia Oil & Gas in a research note on Tuesday, October 15th. Wells Fargo & Company lowered Magnolia Oil & Gas from an "equal weight" rating to an "underweight" rating and dropped their price target for the stock from $26.00 to $22.00 in a research note on Tuesday, October 1st. Finally, Mizuho dropped their price target 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. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $27.67.

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.