Citigroup Inc. Boosts Stake in Magnolia Oil & Gas Co. (NYSE:MGY)

Citigroup Inc. grew its holdings in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 30.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 313,778 shares of the company's stock after purchasing an additional 73,431 shares during the period. Citigroup Inc. owned about 0.16% of Magnolia Oil & Gas worth $7,662,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of MGY. Charles Schwab Investment Management Inc. boosted its holdings in Magnolia Oil & Gas by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,991,017 shares of the company's stock worth $48,621,000 after purchasing an additional 75,305 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of Magnolia Oil & Gas in the 3rd quarter worth $1,252,000. First Horizon Advisors Inc. grew 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 worth $25,000 after acquiring an additional 396 shares during the period. Advisors Asset Management Inc. increased its position in Magnolia Oil & Gas by 196.6% during the third quarter. Advisors Asset Management Inc. now owns 6,096 shares of the company's stock valued at $149,000 after acquiring an additional 4,041 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Magnolia Oil & Gas by 6.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 364,364 shares of the company's stock valued at $8,898,000 after acquiring an additional 23,560 shares during the period. Hedge funds and other institutional investors own 94.73% of the company's stock.

Magnolia Oil & Gas Price Performance

Shares of MGY stock traded up $0.06 during trading hours on Friday, hitting $27.74. The stock had a trading volume of 921,810 shares, compared to its average volume of 1,463,431. The stock's 50-day moving average price is $26.40 and its two-hundred day moving average price is $25.58. Magnolia Oil & Gas Co. has a one year low of $19.16 and a one year high of $29.02. The stock has a market capitalization of $5.45 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 1.41 and a beta of 1.99. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.47 and a quick ratio of 1.47.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $0.52 EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $333.14 million during the quarter, compared to the consensus estimate of $331.45 million. Equities analysts forecast that Magnolia Oil & Gas Co. will post 1.99 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.13 per share. The ex-dividend date is Friday, November 8th. This represents a $0.52 annualized dividend and a yield of 1.87%. Magnolia Oil & Gas's dividend payout ratio (DPR) is currently 25.74%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Wells Fargo & Company downgraded Magnolia Oil & Gas from an "equal weight" rating to an "underweight" rating and cut their price target for the company from $26.00 to $22.00 in a research note on Tuesday, October 1st. Benchmark restated a "hold" rating on shares of Magnolia Oil & Gas in a research report on Tuesday, October 15th. Siebert Williams Shank downgraded shares of Magnolia Oil & Gas from a "buy" rating to a "hold" rating and set a $30.00 price target on the stock. in a research report on Tuesday, October 15th. Mizuho cut 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 report on Monday, September 16th. Finally, Susquehanna reduced their price objective on Magnolia Oil & Gas from $33.00 to $32.00 and set a "positive" rating for the company in a research note on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $27.67.

Insiders Place Their Bets

In other news, Director Ltd. Enervest sold 7,000,000 shares of the business'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 transaction of $181,020,000.00. Following the transaction, the director now owns 2,099,403 shares of the company's stock, valued at approximately $54,290,561.58. The trade was a 76.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.20% 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.