Magnolia Oil & Gas Co. (NYSE:MGY) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its stake in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 1.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,061,846 shares of the company's stock after purchasing an additional 50,351 shares during the quarter. Allspring Global Investments Holdings LLC owned 1.51% of Magnolia Oil & Gas worth $74,770,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Magnolia Oil & Gas by 16.6% in the first quarter. Vanguard Group Inc. now owns 20,757,369 shares of the company's stock valued at $538,654,000 after purchasing an additional 2,956,314 shares during the last quarter. American Century Companies Inc. grew its stake in Magnolia Oil & Gas by 9.9% in the 2nd quarter. American Century Companies Inc. now owns 9,389,368 shares of the company's stock valued at $237,927,000 after acquiring an additional 847,542 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Magnolia Oil & Gas by 16.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,520,725 shares of the company's stock valued at $114,554,000 after acquiring an additional 627,933 shares in the last quarter. Boston Trust Walden Corp increased its holdings in Magnolia Oil & Gas by 26.7% during the 2nd quarter. Boston Trust Walden Corp now owns 2,703,544 shares of the company's stock valued at $68,508,000 after acquiring an additional 568,998 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Magnolia Oil & Gas by 1.9% during the second quarter. Bank of New York Mellon Corp now owns 1,976,184 shares of the company's stock worth $50,077,000 after acquiring an additional 36,018 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company's stock.

Insider Transactions at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, Director Ltd. Enervest sold 7,000,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $25.86, for a total value of $181,020,000.00. Following the completion of the sale, the director now owns 2,099,403 shares of the company's stock, valued at $54,290,561.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.20% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on MGY. Piper Sandler reduced their target price on Magnolia Oil & Gas from $29.00 to $26.00 and set a "neutral" rating on the stock in a research note on Thursday, August 15th. Siebert Williams Shank downgraded Magnolia Oil & Gas from a "buy" rating to a "hold" rating and set a $30.00 price objective on the stock. in a research report on Tuesday, October 15th. Truist Financial dropped 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. Mizuho reduced their target price on shares of Magnolia Oil & Gas from $28.00 to $27.00 and set a "neutral" rating on the stock in a report on Monday, September 16th. Finally, Wolfe Research began coverage on shares of Magnolia Oil & Gas in a report on Thursday, July 18th. They set an "outperform" rating and a $32.00 price target for the company. Two research 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. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $27.50.

Magnolia Oil & Gas Trading Up 0.5 %

Shares of MGY stock traded up $0.13 on Tuesday, reaching $26.02. 935,880 shares of the stock were exchanged, compared to its average volume of 2,582,032. The stock has a market cap of $5.18 billion, a P/E ratio of 12.75, a price-to-earnings-growth ratio of 1.34 and a beta of 1.99. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.21. The firm has a 50 day moving average of $25.20 and a two-hundred day moving average of $25.41. Magnolia Oil & Gas Co. has a 1-year low of $19.16 and a 1-year 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 (EPS) 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 business had revenue of $336.73 million during the quarter, compared to analysts' expectations of $340.72 million. On average, research analysts anticipate that Magnolia Oil & Gas Co. will post 1.98 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date was Friday, August 9th. Magnolia Oil & Gas's dividend payout ratio is presently 25.49%.

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.