Two Sigma Advisers LP Decreases Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Two Sigma Advisers LP lessened its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 11.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,440,400 shares of the company's stock after selling 185,700 shares during the quarter. Two Sigma Advisers LP owned about 0.73% of Magnolia Oil & Gas worth $35,175,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. increased its holdings in shares of Magnolia Oil & Gas by 64.7% in the third quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company's stock valued at $25,000 after purchasing an additional 396 shares during the period. Jennison Associates LLC increased its stake in Magnolia Oil & Gas by 2.2% in the 3rd quarter. Jennison Associates LLC now owns 23,836 shares of the company's stock valued at $582,000 after buying an additional 506 shares during the period. Atria Investments Inc raised its position in Magnolia Oil & Gas by 2.3% during the 3rd quarter. Atria Investments Inc now owns 23,576 shares of the company's stock worth $576,000 after buying an additional 523 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Magnolia Oil & Gas by 1.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 52,834 shares of the company's stock worth $1,290,000 after acquiring an additional 548 shares during the period. Finally, Bank of Montreal Can boosted its holdings in shares of Magnolia Oil & Gas by 1.8% in the second quarter. Bank of Montreal Can now owns 36,716 shares of the company's stock valued at $931,000 after acquiring an additional 640 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Benchmark restated a "hold" rating on shares of Magnolia Oil & Gas in a research report on Tuesday, October 15th. 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 report on Wednesday, September 4th. Piper Sandler cut their price objective on 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. JPMorgan Chase & Co. lowered their price target 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. Finally, Mizuho reduced their price objective on shares of Magnolia Oil & Gas from $28.00 to $27.00 and set a "neutral" rating for the company in a research note on Monday, September 16th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Magnolia Oil & Gas presently has an average rating of "Hold" and a consensus price target of $27.67.

Magnolia Oil & Gas Price Performance

Shares of NYSE:MGY traded down $0.98 on Friday, hitting $25.67. The company had a trading volume of 1,357,155 shares, compared to its average volume of 1,431,169. The company has a market cap of $5.05 billion, a PE ratio of 12.71, a PEG ratio of 1.35 and a beta of 1.99. The business has a 50 day moving average of $26.58 and a 200 day moving average of $25.62. Magnolia Oil & Gas Co. has a 52-week low of $19.16 and a 52-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 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.04. The business had revenue of $333.14 million during the quarter, compared to the consensus estimate of $331.45 million. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.78%. As a group, equities 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 was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.03%. The ex-dividend date was Friday, November 8th. Magnolia Oil & Gas's dividend payout ratio (DPR) is 25.74%.

Insider Activity

In other Magnolia Oil & Gas news, Director Ltd. Enervest sold 7,000,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $25.86, for a total transaction of $181,020,000.00. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company 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.