Holocene Advisors LP Has $3.22 Million Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Holocene Advisors LP grew its holdings in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 27.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 131,852 shares of the company's stock after acquiring an additional 28,423 shares during the quarter. Holocene Advisors LP owned 0.07% of Magnolia Oil & Gas worth $3,220,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Harbor Capital Advisors Inc. acquired a new stake in Magnolia Oil & Gas in the 3rd quarter worth about $25,000. First Horizon Advisors Inc. increased its holdings in shares of Magnolia Oil & Gas by 64.7% during the third quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company's stock worth $25,000 after purchasing an additional 396 shares during the period. Opal Wealth Advisors LLC acquired a new stake in shares of Magnolia Oil & Gas in the second quarter valued at approximately $26,000. GAMMA Investing LLC boosted its stake in shares of Magnolia Oil & Gas by 184.4% in the second quarter. GAMMA Investing LLC now owns 1,607 shares of the company's stock valued at $41,000 after buying an additional 1,042 shares during the period. Finally, Nisa Investment Advisors LLC grew its position in Magnolia Oil & Gas by 61.9% during the second quarter. Nisa Investment Advisors LLC now owns 2,850 shares of the company's stock worth $72,000 after buying an additional 1,090 shares in the last quarter. Institutional investors own 94.73% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MGY. JPMorgan Chase & Co. dropped their price objective on Magnolia Oil & Gas from $26.00 to $23.00 and set a "neutral" rating for the company in a report on Thursday, September 12th. Truist Financial boosted their price target on Magnolia Oil & Gas from $31.00 to $33.00 and gave the company a "buy" rating in a research note on Friday, November 1st. 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 research note on Tuesday, October 15th. Susquehanna dropped their target price 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. Finally, Piper Sandler cut their price target on shares of Magnolia Oil & Gas from $29.00 to $26.00 and set a "neutral" rating for the company in a report on Thursday, August 15th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $27.67.

Magnolia Oil & Gas Trading Down 3.7 %

NYSE: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 company has a 50 day simple moving average of $26.55 and a 200-day simple moving average of $25.62. The firm has a market capitalization of $5.05 billion, a P/E ratio of 13.19, a PEG ratio of 1.40 and a beta of 1.99. 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 current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its quarterly 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 return on equity of 20.78% and a net margin of 28.88%. The company had revenue of $333.14 million during the quarter, compared to analysts' expectations of $331.45 million. As a group, research analysts expect 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 was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.52 annualized dividend and a yield of 2.03%. 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 business's 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 transaction, the director now directly owns 2,099,403 shares of the company's stock, valued at $54,290,561.58. The trade was a 76.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.20% of the company's stock.

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.