34,645 Shares in Magnolia Oil & Gas Co. (NYSE:MGY) Bought by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC purchased a new position in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 34,645 shares of the company's stock, valued at approximately $846,000.

Several other hedge funds also recently made changes to their positions in the business. Mather Group LLC. acquired a new position in shares of Magnolia Oil & Gas during the 1st quarter worth approximately $27,000. Massmutual Trust Co. FSB ADV raised its position in Magnolia Oil & Gas by 1,753.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,038 shares of the company's stock worth $26,000 after acquiring an additional 982 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in Magnolia Oil & Gas in the second quarter valued at $26,000. GAMMA Investing LLC grew its position in shares of 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. Finally, Fidelis Capital Partners LLC acquired a new position in shares of Magnolia Oil & Gas during the 1st quarter worth about $50,000. 94.73% of the stock is owned by institutional investors.

Magnolia Oil & Gas Price Performance

MGY stock traded down $0.37 during mid-day trading on Friday, hitting $26.12. The stock had a trading volume of 1,631,344 shares, compared to its average volume of 2,592,167. The firm has a fifty day simple moving average of $25.17 and a 200 day simple moving average of $25.43. The firm has a market capitalization of $5.30 billion, a P/E ratio of 13.00, a P/E/G 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 52 week low of $19.16 and a 52 week high of $27.63.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.51 by $0.05. Magnolia Oil & Gas had a net margin of 29.44% and a return on equity of 21.18%. The business had revenue of $336.73 million during the quarter, compared to the consensus estimate of $340.72 million. As a group, research analysts forecast that Magnolia Oil & Gas Co. will post 1.99 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.99%. The ex-dividend date was Friday, August 9th. Magnolia Oil & Gas's payout ratio is 25.87%.

Insider Transactions at Magnolia Oil & Gas

In other news, Director Ltd. Enervest sold 7,000,000 shares of the company's stock in a transaction 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 completion of the transaction, the director now directly owns 2,099,403 shares in the company, valued at approximately $54,290,561.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.20% of the company's stock.

Analyst Upgrades and Downgrades

MGY has been the subject of several recent analyst reports. Bank of America raised their target price on shares of Magnolia Oil & Gas from $28.00 to $29.00 and gave the company a "buy" rating in a research note on Tuesday, July 23rd. Truist Financial cut their price objective on Magnolia Oil & Gas from $35.00 to $31.00 and set a "buy" rating for the company in a research report on Monday, September 30th. Siebert Williams Shank lowered Magnolia Oil & Gas from a "buy" rating to a "hold" rating and set a $30.00 target price on the stock. in a report on Tuesday. 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 report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. dropped their price objective 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. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $27.50.

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.