Magnolia Oil & Gas Co. (NYSE:MGY) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp cut its stake in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 8.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 333,840 shares of the company's stock after selling 31,374 shares during the quarter. King Luther Capital Management Corp owned about 0.17% of Magnolia Oil & Gas worth $8,152,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Magnolia Oil & Gas by 16.6% in the first quarter. Vanguard Group Inc. now owns 20,757,369 shares of the company's stock worth $538,654,000 after acquiring an additional 2,956,314 shares in the last quarter. American Century Companies Inc. grew its position in Magnolia Oil & Gas by 9.9% during 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 last quarter. Dimensional Fund Advisors LP lifted its position 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 worth $114,554,000 after acquiring an additional 627,933 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Magnolia Oil & Gas by 1.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,061,846 shares of the company's stock valued at $74,770,000 after purchasing an additional 50,351 shares during the period. Finally, Boston Trust Walden Corp raised its stake in shares of Magnolia Oil & Gas by 4.4% in the third quarter. Boston Trust Walden Corp now owns 2,823,126 shares of the company's stock worth $68,941,000 after purchasing an additional 119,582 shares during the last quarter. 94.73% of the stock is owned by institutional investors.

Magnolia Oil & Gas Price Performance

NYSE MGY traded up $0.54 on Friday, hitting $28.77. The company had a trading volume of 2,462,753 shares, compared to its average volume of 2,480,982. 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 company has a market capitalization of $5.66 billion, a PE ratio of 14.36, a PEG ratio of 1.39 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 company's fifty day moving average price is $26.04 and its 200-day moving average price is $25.50.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.04. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.78%. The firm had revenue of $333.14 million during the quarter, compared to the consensus estimate of $331.45 million. As a group, analysts predict that Magnolia Oil & Gas Co. will post 1.99 earnings per share 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 1.81%. The ex-dividend date is Friday, November 8th. Magnolia Oil & Gas's dividend payout ratio is presently 25.74%.

Insider Buying and Selling

In other news, Director Ltd. Enervest sold 7,000,000 shares of the company's stock in a transaction on Monday, September 23rd. The shares were 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 of the company's stock, valued at $54,290,561.58. This represents a 76.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

MGY has been the subject of a number of recent research reports. Susquehanna reduced their price target on shares of Magnolia Oil & Gas from $33.00 to $32.00 and set a "positive" rating for the company in a research report on Wednesday, September 4th. Truist Financial boosted their target price on shares of Magnolia Oil & Gas from $31.00 to $33.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Piper Sandler lowered their price target on shares of Magnolia Oil & Gas from $29.00 to $26.00 and set a "neutral" rating on the stock in a report on Thursday, August 15th. Wells Fargo & Company lowered Magnolia Oil & Gas from an "equal weight" rating to an "underweight" rating and reduced their price objective for the company from $26.00 to $22.00 in a research note on Tuesday, October 1st. Finally, Siebert Williams Shank downgraded Magnolia Oil & Gas from a "buy" rating to a "hold" rating and set a $30.00 target price on the stock. in a research note on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $27.67.

About Magnolia Oil & Gas

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.