Magnolia Oil & Gas Co. (NYSE:MGY) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP cut its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 12.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,993,703 shares of the company's stock after selling 730,154 shares during the period. Wellington Management Group LLP owned about 2.54% of Magnolia Oil & Gas worth $121,946,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of MGY. State Street Corp raised its stake in Magnolia Oil & Gas by 4.2% during the 3rd quarter. State Street Corp now owns 10,700,257 shares of the company's stock valued at $261,300,000 after purchasing an additional 435,326 shares during the period. American Century Companies Inc. raised its position 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 buying an additional 847,542 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of 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 buying an additional 627,933 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Magnolia Oil & Gas by 1.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,061,846 shares of the company's stock worth $74,770,000 after acquiring an additional 50,351 shares during the last quarter. Finally, Systematic Financial Management LP grew its stake in Magnolia Oil & Gas by 7.5% during the third quarter. Systematic Financial Management LP now owns 2,920,018 shares of the company's stock valued at $71,307,000 after acquiring an additional 203,514 shares in the last quarter. Institutional investors own 94.73% of the company's stock.

Wall Street Analyst Weigh In

MGY has been the topic of a number of research reports. JPMorgan Chase & Co. reduced their price objective on 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. Truist Financial increased their price target on shares of Magnolia Oil & Gas from $31.00 to $33.00 and gave the company a "buy" rating in a report on Friday, November 1st. Siebert Williams Shank downgraded Magnolia Oil & Gas from a "buy" rating to a "hold" rating and set a $30.00 target price on the stock. in a research report on Tuesday, October 15th. Mizuho lowered their target price on shares of Magnolia Oil & Gas from $28.00 to $27.00 and set a "neutral" rating for the company in a report on Monday, September 16th. Finally, Wells Fargo & Company lowered shares of Magnolia Oil & Gas from an "equal weight" rating to an "underweight" rating and decreased their price objective for the company from $26.00 to $22.00 in a report on Tuesday, October 1st. Two 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. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $27.67.

Magnolia Oil & Gas Stock Performance

Shares of NYSE:MGY traded down $0.17 during trading on Tuesday, hitting $25.60. The stock had a trading volume of 1,279,075 shares, compared to its average volume of 2,437,485. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas Co. has a 12-month low of $19.16 and a 12-month high of $29.02. The stock has a market capitalization of $5.03 billion, a price-to-earnings ratio of 12.76, a price-to-earnings-growth ratio of 1.31 and a beta of 1.99. The stock has a 50-day simple moving average of $26.61 and a two-hundred day simple moving average of $25.64.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.48 by $0.04. The business had revenue of $333.14 million during the quarter, compared to analysts' expectations of $331.45 million. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.78%. On average, equities research analysts expect that Magnolia Oil & Gas Co. will post 1.99 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were given a $0.13 dividend. 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 dividend payout ratio is presently 25.74%.

Insider Transactions at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, Director Ltd. Enervest sold 7,000,000 shares of the firm's stock in a transaction that occurred 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 sale, 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 76.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.40% of the company's stock.

Magnolia Oil & Gas Company 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.