Magnolia Oil & Gas Co. (NYSE:MGY) Shares Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets raised its stake in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 27.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 128,492 shares of the company's stock after acquiring an additional 27,467 shares during the period. BNP Paribas Financial Markets owned approximately 0.07% of Magnolia Oil & Gas worth $3,138,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Oliver Luxxe Assets LLC raised its position in shares of Magnolia Oil & Gas by 80.6% during the 3rd quarter. Oliver Luxxe Assets LLC now owns 87,624 shares of the company's stock valued at $2,140,000 after buying an additional 39,098 shares in the last quarter. Argent Capital Management LLC raised its position in shares of Magnolia Oil & Gas by 56.8% in the 2nd quarter. Argent Capital Management LLC now owns 29,111 shares of the company's stock worth $738,000 after acquiring an additional 10,547 shares in the last quarter. Tidal Investments LLC purchased a new stake in shares of Magnolia Oil & Gas during the 1st quarter worth $566,000. AMG National Trust Bank raised its stake in shares of Magnolia Oil & Gas by 13.7% during the 2nd quarter. AMG National Trust Bank now owns 65,508 shares of the company's stock valued at $1,660,000 after buying an additional 7,879 shares during the last quarter. Finally, Ensign Peak Advisors Inc lifted its holdings in shares of Magnolia Oil & Gas by 5.6% in the 2nd quarter. Ensign Peak Advisors Inc now owns 68,919 shares of the company's stock valued at $1,746,000 after buying an additional 3,630 shares during the period. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Ltd. Enervest sold 7,000,000 shares of the firm's stock in a transaction that occurred on 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 sale, 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 ownership of the stock. The sale 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 insiders.

Magnolia Oil & Gas Stock Down 3.7 %

Shares of MGY traded down $0.98 during mid-day trading on Friday, hitting $25.67. 1,357,149 shares of the company's stock were exchanged, compared to its average volume of 2,445,960. The stock's 50-day moving average is $26.58 and its 200-day moving average is $25.62. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.47. Magnolia Oil & Gas Co. has a fifty-two week low of $19.16 and a fifty-two week high of $29.02. The company has a market cap of $5.05 billion, a price-to-earnings ratio of 12.71, a P/E/G ratio of 1.40 and a beta of 1.99.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $333.14 million for the quarter, compared to analyst estimates of $331.45 million. On average, sell-side analysts anticipate 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 announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were issued a $0.13 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.52 dividend on an annualized basis and a yield of 2.03%. Magnolia Oil & Gas's dividend payout ratio (DPR) is presently 25.74%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on MGY shares. JPMorgan Chase & Co. dropped their price objective on shares of Magnolia Oil & Gas from $26.00 to $23.00 and set a "neutral" rating on the stock in a research note 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 on the stock. in a research note on Tuesday, October 15th. Truist Financial increased their price objective on Magnolia Oil & Gas from $31.00 to $33.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Susquehanna reduced their target price on Magnolia Oil & Gas from $33.00 to $32.00 and set a "positive" rating on the stock in a research report on Wednesday, September 4th. Finally, Benchmark reaffirmed a "hold" rating on shares of Magnolia Oil & Gas in a research note on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Magnolia Oil & Gas has a consensus rating of "Hold" and a consensus 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.