Edgestream Partners L.P. Buys New Stake in Magnolia Oil & Gas Co. (NYSE:MGY)

Edgestream Partners L.P. purchased a new stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 206,924 shares of the company's stock, valued at approximately $5,053,000. Edgestream Partners L.P. owned 0.11% of Magnolia Oil & Gas as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the company. Harbor Capital Advisors Inc. bought a new stake in Magnolia Oil & Gas in the third quarter worth about $25,000. First Horizon Advisors Inc. lifted its stake in Magnolia Oil & Gas by 64.7% during the third quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company's stock valued at $25,000 after purchasing an additional 396 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in Magnolia Oil & Gas by 1,753.6% during 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 bought a new stake in Magnolia Oil & Gas during the second quarter worth approximately $26,000. Finally, GAMMA Investing LLC grew its position in Magnolia Oil & Gas by 184.4% in the second quarter. GAMMA Investing LLC now owns 1,607 shares of the company's stock worth $41,000 after buying an additional 1,042 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company's stock.

Magnolia Oil & Gas Stock Up 0.2 %

Shares of NYSE:MGY traded up $0.06 during trading on Friday, reaching $27.74. 921,810 shares of the company traded hands, compared to its average volume of 1,463,431. The firm has a fifty day simple moving average of $26.40 and a 200 day simple moving average of $25.58. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas Co. has a 1-year low of $19.16 and a 1-year high of $29.02. The firm has a market cap of $5.45 billion, a P/E ratio of 13.73, a price-to-earnings-growth ratio of 1.41 and a beta of 1.99.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its 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 firm had revenue of $333.14 million for the quarter, compared to the consensus estimate of $331.45 million. Analysts anticipate that Magnolia Oil & Gas Co. will post 1.99 earnings per share for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The firm 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 annualized dividend and a yield of 1.87%. The ex-dividend date is Friday, November 8th. Magnolia Oil & Gas's payout ratio is presently 25.74%.

Insider Buying and Selling at Magnolia Oil & Gas

In other news, Director Ltd. Enervest sold 7,000,000 shares of the company's stock in a transaction dated 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 sale, the director now owns 2,099,403 shares in the company, valued at approximately $54,290,561.58. This represents a 76.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.20% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MGY shares. Benchmark reissued 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 decreased their price target for the company from $26.00 to $22.00 in a research report on Tuesday, October 1st. JPMorgan Chase & Co. cut their price objective on Magnolia Oil & Gas from $26.00 to $23.00 and set a "neutral" rating on the stock in a report on Thursday, September 12th. Siebert Williams Shank cut shares of Magnolia Oil & Gas from a "buy" rating to a "hold" rating and set a $30.00 target price for the company. in a report on Tuesday, October 15th. Finally, Truist Financial boosted their price target on shares of Magnolia Oil & Gas from $31.00 to $33.00 and gave the company a "buy" rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $27.67.

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.