Maven Securities LTD Makes New $2.44 Million Investment in Magnolia Oil & Gas Co. (NYSE:MGY)

Maven Securities LTD acquired a new position in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 100,000 shares of the company's stock, valued at approximately $2,442,000. Maven Securities LTD owned 0.05% of Magnolia Oil & Gas at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. purchased a new stake in shares of Magnolia Oil & Gas in the third quarter valued at approximately $25,000. First Horizon Advisors Inc. increased its stake in Magnolia Oil & Gas by 64.7% during 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 last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of Magnolia Oil & Gas in the second quarter worth about $26,000. Massmutual Trust Co. FSB ADV raised its position in shares of Magnolia Oil & Gas by 1,753.6% during the 2nd 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. Finally, GAMMA Investing LLC increased its position 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 acquiring an additional 1,042 shares during the period. 94.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MGY. Benchmark reaffirmed a "hold" rating on shares of Magnolia Oil & Gas in a research note on Tuesday, October 15th. Siebert Williams Shank cut Magnolia Oil & Gas from a "buy" rating to a "hold" rating and set a $30.00 target price for the company. in a research report on Tuesday, October 15th. Susquehanna cut their price objective on Magnolia Oil & Gas from $33.00 to $32.00 and set a "positive" rating for the company in a report on Wednesday, September 4th. Truist Financial raised their target price on Magnolia Oil & Gas from $31.00 to $33.00 and gave the company a "buy" rating in a report on Friday, November 1st. Finally, Mizuho lowered their price target on 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 given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $27.67.

Magnolia Oil & Gas Trading Down 3.3 %

Shares of Magnolia Oil & Gas stock traded down $0.91 on Wednesday, hitting $26.54. 1,589,336 shares of the company's stock traded hands, compared to its average volume of 2,456,743. The firm's 50-day moving average price is $26.46 and its two-hundred day moving average price is $25.61. The stock has a market capitalization of $5.22 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 1.39 and a beta of 1.99. Magnolia Oil & Gas Co. has a one year low of $19.16 and a one year high of $29.02. 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 announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $333.14 million during the quarter, compared to the consensus estimate of $331.45 million. On average, research analysts expect that Magnolia Oil & Gas Co. will post 1.99 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were issued a dividend of $0.13 per share. The ex-dividend date was Friday, November 8th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.96%. Magnolia Oil & Gas's payout ratio is presently 25.74%.

Insider Buying and Selling

In other news, Director Ltd. Enervest sold 7,000,000 shares of the firm's stock in a transaction dated 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 transaction, the director now owns 2,099,403 shares in the company, valued at $54,290,561.58. This trade represents a 76.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is owned by corporate insiders.

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.