UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Decreases Stock Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 11.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 224,528 shares of the company's stock after selling 28,108 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.11% of Magnolia Oil & Gas worth $5,483,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Harbor Capital Advisors Inc. purchased a new position in shares of Magnolia Oil & Gas during the 3rd quarter valued at $25,000. First Horizon Advisors Inc. increased its stake in Magnolia Oil & Gas by 64.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company's stock worth $25,000 after acquiring an additional 396 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Magnolia Oil & Gas by 62.4% in the 3rd quarter. GAMMA Investing LLC now owns 2,609 shares of the company's stock valued at $64,000 after acquiring an additional 1,002 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Magnolia Oil & Gas by 61.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,850 shares of the company's stock valued at $72,000 after acquiring an additional 1,090 shares during the last quarter. Finally, Covestor Ltd grew its holdings in shares of Magnolia Oil & Gas by 36.8% during the third quarter. Covestor Ltd now owns 2,986 shares of the company's stock worth $73,000 after purchasing an additional 804 shares in the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Piper Sandler lowered their price objective on shares of 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. Mizuho cut their price objective 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. Susquehanna reduced their price objective 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. Wells Fargo & Company downgraded Magnolia Oil & Gas from an "equal weight" rating to an "underweight" rating and dropped their target price for the stock from $26.00 to $22.00 in a research report on Tuesday, October 1st. Finally, Benchmark reiterated a "hold" rating on shares of Magnolia Oil & Gas in a research report on Tuesday, October 15th. 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 data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $27.67.

Insiders Place Their Bets

In related news, Director Ltd. Enervest sold 7,000,000 shares of the company's stock in a transaction dated 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. The trade was a 76.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.40% of the company's stock.

Magnolia Oil & Gas Trading Up 2.1 %

NYSE MGY traded up $0.55 during trading on Wednesday, hitting $26.15. The company had a trading volume of 1,426,449 shares, compared to its average volume of 2,433,837. The company's fifty day moving average is $26.64 and its 200-day moving average is $25.64. The company has a market cap of $5.14 billion, a price-to-earnings ratio of 12.95, a price-to-earnings-growth ratio of 1.31 and a beta of 1.99. 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 one year low of $19.16 and a one year high of $29.02.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.48 by $0.04. The company had revenue of $333.14 million during the quarter, compared to analysts' expectations of $331.45 million. Magnolia Oil & Gas had a return on equity of 20.78% and a net margin of 28.88%. On average, sell-side analysts predict that Magnolia Oil & Gas Co. will post 1.99 earnings per share for the current year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th 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 of this dividend was Friday, November 8th. Magnolia Oil & Gas's payout ratio is currently 25.74%.

Magnolia Oil & Gas 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.