TimesSquare Capital Management LLC Decreases Position in Magnolia Oil & Gas Co. (NYSE:MGY)

TimesSquare Capital Management LLC cut its position in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 10.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 634,235 shares of the company's stock after selling 73,354 shares during the quarter. TimesSquare Capital Management LLC owned approximately 0.32% of Magnolia Oil & Gas worth $15,488,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. purchased a new stake in Magnolia Oil & Gas during the 3rd quarter valued at approximately $25,000. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Magnolia Oil & Gas by 1,753.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,038 shares of the company's stock worth $26,000 after purchasing an additional 982 shares during the period. Opal Wealth Advisors LLC purchased a new position in Magnolia Oil & Gas in the 2nd quarter valued at $26,000. GAMMA Investing LLC increased 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 buying an additional 1,042 shares during the period. Finally, Nisa Investment Advisors LLC raised its position in Magnolia Oil & Gas by 61.9% during the 2nd 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 during the last quarter. Hedge funds and other institutional investors own 94.73% of the company's stock.

Magnolia Oil & Gas Trading Up 0.4 %

Shares of Magnolia Oil & Gas stock traded up $0.12 during mid-day trading on Monday, hitting $27.53. 1,129,768 shares of the stock were exchanged, compared to its average volume of 2,525,484. Magnolia Oil & Gas Co. has a twelve month low of $19.16 and a twelve month high of $27.73. The company has a 50-day simple moving average of $25.41 and a 200 day simple moving average of $25.38. The stock has a market capitalization of $5.41 billion, a price-to-earnings ratio of 13.63, a price-to-earnings-growth ratio of 1.39 and a beta of 1.99. 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. The company had revenue of $333.14 million during 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%. Research analysts forecast that Magnolia Oil & Gas Co. will post 1.99 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be given a $0.13 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.52 annualized dividend and a dividend yield of 1.89%. Magnolia Oil & Gas's dividend payout ratio is presently 25.74%.

Insider Activity at Magnolia Oil & Gas

In related news, Director Ltd. Enervest sold 7,000,000 shares of the 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 transaction, the director now directly owns 2,099,403 shares of the company's stock, valued at approximately $54,290,561.58. This trade represents a 0.00 % 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 insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on MGY shares. Siebert Williams Shank downgraded 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 report on Tuesday, October 15th. Truist Financial increased their target price on Magnolia Oil & Gas from $31.00 to $33.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Wolfe Research initiated coverage on Magnolia Oil & Gas in a research report on Thursday, July 18th. They issued an "outperform" rating and a $32.00 price objective for the company. Bank of America increased their price target on shares of Magnolia Oil & Gas from $28.00 to $29.00 and gave the company a "buy" rating in a report on Tuesday, July 23rd. Finally, Mizuho lowered 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 report on Monday, September 16th. 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's stock. Based on data from MarketBeat.com, Magnolia Oil & Gas has a consensus rating of "Hold" and a consensus target price of $27.67.

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.