State Street Corp Has $261.30 Million Stock Position in Magnolia Oil & Gas Co. (NYSE:MGY)

State Street Corp increased its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 4.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,700,257 shares of the company's stock after purchasing an additional 435,326 shares during the period. State Street Corp owned approximately 5.44% of Magnolia Oil & Gas worth $261,300,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MGY. SG Americas Securities LLC grew its position in shares of Magnolia Oil & Gas by 406.1% during the 2nd quarter. SG Americas Securities LLC now owns 31,430 shares of the company's stock worth $796,000 after purchasing an additional 25,220 shares in the last quarter. Blue Trust Inc. acquired a new position in Magnolia Oil & Gas in the 2nd quarter valued at $437,000. Foster Victor Wealth Advisors LLC lifted its position in shares of Magnolia Oil & Gas by 4.4% during the 2nd quarter. Foster Victor Wealth Advisors LLC now owns 207,446 shares of the company's stock valued at $5,603,000 after acquiring an additional 8,679 shares during the period. Boston Trust Walden Corp grew its holdings in shares of 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 purchasing an additional 568,998 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of Magnolia Oil & Gas by 61.9% in the second quarter. Nisa Investment Advisors LLC now owns 2,850 shares of the company's stock worth $72,000 after purchasing an additional 1,090 shares during the period. 94.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MGY. Truist Financial upped their price objective on shares of Magnolia Oil & Gas from $31.00 to $33.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Mizuho decreased their price objective on shares of Magnolia Oil & Gas from $28.00 to $27.00 and set a "neutral" rating on the stock in a research note on Monday, September 16th. JPMorgan Chase & Co. cut 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. 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 note on Tuesday, October 1st. Finally, Piper Sandler dropped their price objective on Magnolia Oil & Gas from $29.00 to $26.00 and set a "neutral" rating for the company in a research report on Thursday, August 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 company. Based on data from MarketBeat, Magnolia Oil & Gas currently has a consensus rating of "Hold" and a consensus target price of $27.67.

Magnolia Oil & Gas Trading Up 2.1 %

NYSE MGY traded up $0.55 during trading hours on Wednesday, reaching $26.15. The company's stock had a trading volume of 1,435,086 shares, compared to its average volume of 2,433,290. Magnolia Oil & Gas Co. has a 52 week low of $19.16 and a 52 week 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 stock has a market cap of $5.14 billion, a P/E ratio of 12.68, a P/E/G ratio of 1.31 and a beta of 1.99. The firm has a fifty day simple moving average of $26.62 and a 200-day simple moving average of $25.64.

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, topping analysts' consensus estimates of $0.48 by $0.04. The company had revenue of $333.14 million for the quarter, compared to analyst estimates of $331.45 million. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.78%. Equities analysts forecast that Magnolia Oil & Gas Co. will post 1.99 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were paid a $0.13 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.52 annualized dividend and a dividend yield of 1.99%. Magnolia Oil & Gas's payout ratio is 25.74%.

Insider Transactions at Magnolia Oil & Gas

In other news, Director Ltd. Enervest sold 7,000,000 shares of the 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 directly owns 2,099,403 shares in the company, 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 SEC, which is available through the SEC website. 1.40% of the stock is owned by corporate insiders.

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.