Raymond James & Associates Sells 45,966 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Raymond James & Associates reduced its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 8.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 494,260 shares of the company's stock after selling 45,966 shares during the period. Raymond James & Associates owned 0.24% of Magnolia Oil & Gas worth $12,070,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Magnolia Oil & Gas by 16.6% in the 1st quarter. Vanguard Group Inc. now owns 20,757,369 shares of the company's stock valued at $538,654,000 after acquiring an additional 2,956,314 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of 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 worth $237,927,000 after purchasing an additional 847,542 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Magnolia Oil & Gas by 16.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,520,725 shares of the company's stock worth $114,554,000 after purchasing an additional 627,933 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Magnolia Oil & Gas by 4.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,184,107 shares of the company's stock worth $82,628,000 after purchasing an additional 142,717 shares during the period. Finally, Boston Trust Walden Corp raised its holdings in shares of Magnolia Oil & Gas by 26.7% in the 2nd quarter. Boston Trust Walden Corp now owns 2,703,544 shares of the company's stock worth $68,508,000 after purchasing an additional 568,998 shares during the period. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Magnolia Oil & Gas Price Performance

Shares of MGY traded down $0.27 during mid-day trading on Tuesday, reaching $25.30. 1,333,611 shares of the stock traded hands, compared to its average volume of 2,559,502. The firm has a fifty day moving average price of $25.28 and a 200 day moving average price of $25.38. The company has a market cap of $5.13 billion, a price-to-earnings ratio of 12.59, a price-to-earnings-growth ratio of 1.33 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 1 year low of $19.16 and a 1 year high of $27.63.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last announced its earnings results on Wednesday, July 31st. The company reported $0.56 earnings per share (EPS) for the quarter, topping 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 company had revenue of $336.73 million during the quarter, compared to analyst estimates of $340.72 million. As a group, equities research analysts predict that Magnolia Oil & Gas Co. will post 1.98 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be given a $0.13 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.52 annualized dividend and a yield of 2.06%. Magnolia Oil & Gas's dividend payout ratio (DPR) is presently 25.87%.

Analysts Set New Price Targets

MGY has been the subject of a number of recent research reports. Susquehanna reduced their price objective on shares of 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. Benchmark reiterated a "hold" rating on shares of Magnolia Oil & Gas in a research note on Tuesday, October 15th. Bank of America lifted their price objective 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. Wells Fargo & Company lowered shares of Magnolia Oil & Gas from an "equal weight" rating to an "underweight" rating and reduced their price objective for the company from $26.00 to $22.00 in a research note on Tuesday, October 1st. Finally, Truist Financial reduced their price objective on shares of Magnolia Oil & Gas from $35.00 to $31.00 and set a "buy" rating for the company in a research note on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $27.50.

Insider Buying and Selling

In related 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 value 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. The trade was 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 accessible through the SEC website. 1.20% of the stock is owned by company 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.