Cerity Partners LLC Increases Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Cerity Partners LLC lifted its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 22.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 126,095 shares of the company's stock after buying an additional 23,324 shares during the quarter. Cerity Partners LLC owned approximately 0.06% of Magnolia Oil & Gas worth $3,079,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MGY. Price T Rowe Associates Inc. MD lifted its stake in Magnolia Oil & Gas by 0.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 594,173 shares of the company's stock valued at $15,419,000 after buying an additional 1,624 shares in the last quarter. Tidal Investments LLC purchased a new stake in shares of Magnolia Oil & Gas during the first quarter worth approximately $566,000. Comerica Bank increased its position in shares of Magnolia Oil & Gas by 38.8% during the first quarter. Comerica Bank now owns 172,569 shares of the company's stock worth $4,478,000 after purchasing an additional 48,228 shares in the last quarter. GAMMA Investing LLC raised its stake in Magnolia Oil & Gas by 184.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,607 shares of the company's stock valued at $41,000 after purchasing an additional 1,042 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in Magnolia Oil & Gas by 1,753.6% in the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 94.73% of the company's stock.

Analyst Upgrades and Downgrades

MGY has been the subject of a number of recent research reports. Piper Sandler reduced their target price on shares of 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. Susquehanna cut their price objective on shares of Magnolia Oil & Gas from $33.00 to $32.00 and set a "positive" rating for the company in a report on Wednesday, September 4th. Mizuho decreased their target price 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. dropped their price target on Magnolia Oil & Gas from $26.00 to $23.00 and set a "neutral" rating for the company in a research report on Thursday, September 12th. Finally, Benchmark reiterated a "hold" rating on shares of Magnolia Oil & Gas in a research report 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $27.67.

Insiders Place Their Bets

In other news, Director Ltd. Enervest sold 7,000,000 shares of Magnolia Oil & Gas stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $25.86, for a total value of $181,020,000.00. Following the completion of the transaction, the director now owns 2,099,403 shares in the company, valued at approximately $54,290,561.58. This trade represents a 76.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.20% of the stock is owned by company insiders.

Magnolia Oil & Gas Trading Up 0.2 %

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

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, beating 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, equities analysts expect that Magnolia Oil & Gas Co. will post 1.99 earnings per share for the current year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Friday, November 8th. Magnolia Oil & Gas's payout ratio is currently 25.74%.

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.