200,000 Shares in Magnolia Oil & Gas Co. (NYSE:MGY) Bought by Seven Grand Managers LLC

Seven Grand Managers LLC bought a new stake in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 200,000 shares of the company's stock, valued at approximately $4,884,000. Seven Grand Managers LLC owned approximately 0.10% of Magnolia Oil & Gas at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MGY. Massmutual Trust Co. FSB ADV boosted its holdings 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 valued at $26,000 after acquiring an additional 982 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of Magnolia Oil & Gas during the second quarter valued at about $26,000. Mather Group LLC. acquired a new stake in shares of Magnolia Oil & Gas during the first quarter valued at about $27,000. GAMMA Investing LLC grew its holdings in shares of Magnolia Oil & Gas by 184.4% during the second quarter. GAMMA Investing LLC now owns 1,607 shares of the company's stock worth $41,000 after purchasing an additional 1,042 shares during the last quarter. Finally, Fidelis Capital Partners LLC acquired a new position in shares of Magnolia Oil & Gas in the first quarter valued at approximately $50,000. Institutional investors own 94.73% of the company's stock.

Magnolia Oil & Gas Stock Up 0.6 %

Magnolia Oil & Gas stock traded up $0.16 during midday trading on Thursday, reaching $26.49. The stock had a trading volume of 1,439,955 shares, compared to its average volume of 2,596,946. The company has a fifty day moving average price of $25.09 and a two-hundred day moving average price of $25.42. The company has a market capitalization of $5.37 billion, a P/E ratio of 13.24, a PEG ratio of 1.36 and a beta of 1.99. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.21. Magnolia Oil & Gas Co. has a 12 month low of $19.16 and a 12 month high of $27.63.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its earnings results on Wednesday, July 31st. The company reported $0.56 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.05. Magnolia Oil & Gas had a return on equity of 21.18% and a net margin of 29.44%. The company had revenue of $336.73 million for the quarter, compared to analyst estimates of $340.72 million. As a group, equities analysts expect that Magnolia Oil & Gas Co. will post 1.99 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date was Friday, August 9th. Magnolia Oil & Gas's dividend payout ratio is currently 25.87%.

Wall Street Analysts Forecast Growth

MGY has been the topic of several recent research reports. JPMorgan Chase & Co. cut their target price on shares of Magnolia Oil & Gas from $26.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday, September 12th. Wells Fargo & Company cut shares of Magnolia Oil & Gas from an "equal weight" rating to an "underweight" rating and reduced their price objective for the stock from $26.00 to $22.00 in a research note on Tuesday, October 1st. Susquehanna lowered their target price on Magnolia Oil & Gas from $33.00 to $32.00 and set a "positive" rating for the company in a research report on Wednesday, September 4th. Piper Sandler reduced their price target on Magnolia Oil & Gas from $29.00 to $26.00 and set a "neutral" rating on the stock in a research report on Thursday, August 15th. Finally, Mizuho decreased their price target on 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 equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $27.50.

Insider Transactions at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, Director Ltd. Enervest sold 7,000,000 shares of Magnolia Oil & Gas stock in a transaction dated 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 completion of the transaction, the director now owns 2,099,403 shares in the company, valued at approximately $54,290,561.58. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.20% of the stock is currently owned by insiders.

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.