Fmr LLC Purchases 22,171 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

FMR LLC raised its stake in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 174.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,851 shares of the company's stock after buying an additional 22,171 shares during the quarter. FMR LLC's holdings in Magnolia Oil & Gas were worth $851,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. bought a new position in Magnolia Oil & Gas during the third quarter worth about $25,000. First Horizon Advisors Inc. increased its holdings in Magnolia Oil & Gas by 64.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company's stock worth $25,000 after purchasing an additional 396 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Magnolia Oil & Gas by 62.4% in the 3rd quarter. GAMMA Investing LLC now owns 2,609 shares of the company's stock valued at $64,000 after purchasing an additional 1,002 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Magnolia Oil & Gas by 61.9% in the 2nd 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 period. Finally, Covestor Ltd lifted its holdings in shares of Magnolia Oil & Gas by 36.8% in the third quarter. Covestor Ltd now owns 2,986 shares of the company's stock valued at $73,000 after purchasing an additional 804 shares in the last quarter. Institutional investors own 94.73% of the company's stock.

Insider Transactions at Magnolia Oil & Gas

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

Magnolia Oil & Gas Stock Performance

Magnolia Oil & Gas stock traded down $0.90 during midday trading on Wednesday, reaching $23.34. 1,834,758 shares of the company's stock were exchanged, compared to its average volume of 2,433,785. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.47. The stock's 50-day simple moving average is $26.52 and its 200 day simple moving average is $25.63. The firm has a market cap of $4.59 billion, a price-to-earnings ratio of 11.55, a P/E/G ratio of 1.29 and a beta of 1.99. Magnolia Oil & Gas Co. has a 52 week low of $19.16 and a 52 week high of $29.02.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $0.52 earnings per share for the quarter, topping 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 business had revenue of $333.14 million for the quarter, compared to analyst estimates of $331.45 million. On average, analysts expect that Magnolia Oil & Gas Co. will post 2 earnings per share for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.23%. The ex-dividend date was Friday, November 8th. Magnolia Oil & Gas's payout ratio is presently 25.74%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports 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 on the stock in a research report on Thursday, September 12th. 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. 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 report on Friday, November 1st. Piper Sandler lowered their price target on shares of Magnolia Oil & Gas from $26.00 to $24.00 and set a "neutral" rating on the stock in a research note on Tuesday. Finally, Mizuho boosted their price target on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a "neutral" rating in a research report on Monday. Two equities 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $27.58.

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.