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

Pathstone Holdings LLC lifted its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 17.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 197,289 shares of the company's stock after purchasing an additional 28,677 shares during the quarter. Pathstone Holdings LLC owned about 0.10% of Magnolia Oil & Gas worth $4,818,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Harbor Capital Advisors Inc. purchased a new stake in Magnolia Oil & Gas during the 3rd quarter worth about $25,000. Massmutual Trust Co. FSB ADV increased its stake in shares of 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 buying an additional 982 shares during the period. Opal Wealth Advisors LLC acquired a new stake in Magnolia Oil & Gas in the second quarter valued at approximately $26,000. GAMMA Investing LLC lifted its stake in Magnolia Oil & Gas by 184.4% in the second quarter. GAMMA Investing LLC now owns 1,607 shares of the company's stock worth $41,000 after acquiring an additional 1,042 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in Magnolia Oil & Gas by 61.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,850 shares of the company's stock worth $72,000 after acquiring an additional 1,090 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company's stock.

Insiders Place Their Bets

In other Magnolia Oil & Gas news, Director Ltd. Enervest sold 7,000,000 shares of Magnolia Oil & Gas 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 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 document filed with the Securities & Exchange Commission, which is available through this link. 1.20% of the stock is owned by corporate insiders.

Magnolia Oil & Gas Price Performance

Shares of MGY stock traded up $0.56 during trading hours on Friday, hitting $28.79. The company's stock had a trading volume of 2,462,927 shares, compared to its average volume of 1,501,422. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas Co. has a twelve month low of $19.16 and a twelve month high of $29.02. The stock has a market cap of $5.66 billion, a price-to-earnings ratio of 14.25, a P/E/G ratio of 1.44 and a beta of 1.99. The business has a fifty day moving average of $26.14 and a 200-day moving average of $25.52.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.48 by $0.04. The business had revenue of $333.14 million during the quarter, compared to analyst estimates of $331.45 million. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.78%. As a group, equities research analysts anticipate 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 will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.52 annualized dividend and a yield of 1.81%. Magnolia Oil & Gas's dividend payout ratio (DPR) is presently 25.74%.

Wall Street Analyst Weigh In

MGY has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Magnolia Oil & Gas from $26.00 to $23.00 and set a "neutral" rating for the company in a research note on Thursday, September 12th. Siebert Williams Shank cut Magnolia Oil & Gas from a "buy" rating to a "hold" rating and set a $30.00 price objective for the company. in a research report on Tuesday, October 15th. Susquehanna cut their target price on Magnolia Oil & Gas from $33.00 to $32.00 and set a "positive" rating on the stock in a research report on Wednesday, September 4th. Mizuho lowered their price target on Magnolia Oil & Gas from $28.00 to $27.00 and set a "neutral" rating for the company in a report on Monday, September 16th. Finally, Truist Financial raised their price objective on shares of Magnolia Oil & Gas from $31.00 to $33.00 and gave the stock a "buy" rating in a report on Friday, November 1st. 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 stock. Based on data from MarketBeat.com, Magnolia Oil & Gas presently has an average rating of "Hold" and a consensus price target of $27.67.

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.