Magnolia Oil & Gas Co. (NYSE:MGY) Shares Sold by Empowered Funds LLC

Empowered Funds LLC reduced its position in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 42.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 57,523 shares of the company's stock after selling 42,850 shares during the period. Empowered Funds LLC's holdings in Magnolia Oil & Gas were worth $1,405,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake 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 buying an additional 2,956,314 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Magnolia Oil & Gas in the first quarter worth approximately $30,161,000. American Century Companies Inc. boosted its stake in shares of Magnolia Oil & Gas by 9.9% during the second quarter. American Century Companies Inc. now owns 9,389,368 shares of the company's stock valued at $237,927,000 after purchasing an additional 847,542 shares during the period. Dimensional Fund Advisors LP lifted its stake in Magnolia Oil & Gas by 16.1% in the second 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. Finally, SIR Capital Management L.P. purchased a new stake in Magnolia Oil & Gas in the second quarter worth $15,106,000. 94.73% of the stock is currently owned by institutional investors.

Insider Activity at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, Director Ltd. Enervest sold 7,000,000 shares of the company's stock in a transaction on 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 sale, the director now directly owns 2,099,403 shares in the company, valued at approximately $54,290,561.58. This represents a 76.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Siebert Williams Shank lowered Magnolia Oil & Gas from a "buy" rating to a "hold" rating and set a $30.00 price target for the company. in a research note on Tuesday, October 15th. Mizuho reduced their price target on Magnolia Oil & Gas from $28.00 to $27.00 and set a "neutral" rating for the company in a report on Monday, September 16th. Susquehanna dropped their price objective 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. Benchmark reaffirmed a "hold" rating on shares of Magnolia Oil & Gas in a research report on Tuesday, October 15th. Finally, Wells Fargo & Company cut Magnolia Oil & Gas from an "equal weight" rating to an "underweight" rating and dropped their price objective for the company from $26.00 to $22.00 in a research report on Tuesday, October 1st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $27.67.

Magnolia Oil & Gas Price Performance

NYSE:MGY traded up $0.60 during trading hours on Friday, reaching $28.83. The stock had a trading volume of 1,135,663 shares, compared to its average volume of 2,475,136. 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 52 week low of $19.16 and a 52 week high of $29.02. The company has a 50 day moving average price of $26.04 and a two-hundred day moving average price of $25.50. The stock has a market capitalization of $5.67 billion, a PE ratio of 14.36, a PEG ratio of 1.39 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 for the quarter, beating the consensus estimate of $0.48 by $0.04. The firm had revenue of $333.14 million for the quarter, compared to the consensus estimate of $331.45 million. Magnolia Oil & Gas had a return on equity of 20.78% and a net margin of 28.88%. As a group, 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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Friday, November 8th. Magnolia Oil & Gas's payout ratio is currently 25.74%.

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.