Victory Capital Management Inc. Lowers Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Victory Capital Management Inc. decreased its stake in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 4.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,325,686 shares of the company's stock after selling 247,557 shares during the quarter. Victory Capital Management Inc. owned approximately 2.67% of Magnolia Oil & Gas worth $130,053,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings 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 worth $538,654,000 after acquiring an additional 2,956,314 shares in the last quarter. Oliver Luxxe Assets LLC increased its stake in shares of Magnolia Oil & Gas by 80.6% in the third quarter. Oliver Luxxe Assets LLC now owns 87,624 shares of the company's stock worth $2,140,000 after purchasing an additional 39,098 shares in the last quarter. Argent Capital Management LLC raised its position in shares of Magnolia Oil & Gas by 56.8% during the 2nd quarter. Argent Capital Management LLC now owns 29,111 shares of the company's stock valued at $738,000 after purchasing an additional 10,547 shares during the period. CANADA LIFE ASSURANCE Co lifted its stake in shares of Magnolia Oil & Gas by 740.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 157,757 shares of the company's stock valued at $4,092,000 after buying an additional 138,982 shares in the last quarter. Finally, Comerica Bank boosted its holdings in Magnolia Oil & Gas by 38.8% in the 1st quarter. Comerica Bank now owns 172,569 shares of the company's stock worth $4,478,000 after buying an additional 48,228 shares during the period. Institutional investors own 94.73% of the company's stock.

Magnolia Oil & Gas Price Performance

Shares of Magnolia Oil & Gas stock traded down $0.07 during trading hours on Wednesday, reaching $27.08. The company's stock had a trading volume of 1,408,516 shares, compared to its average volume of 2,513,626. The firm has a 50 day moving average price of $25.56 and a 200-day moving average price of $25.41. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.47 and a quick ratio of 1.47. The stock has a market cap of $5.32 billion, a P/E ratio of 13.41, a P/E/G ratio of 1.38 and a beta of 1.99. Magnolia Oil & Gas Co. has a one year low of $19.16 and a one year high of $27.96.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.04. The company had revenue of $333.14 million for 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, analysts predict that Magnolia Oil & Gas Co. will post 1.99 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be issued 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 1.92%. Magnolia Oil & Gas's payout ratio is presently 25.74%.

Insider Buying and Selling

In related news, Director Ltd. Enervest sold 7,000,000 shares of Magnolia Oil & Gas stock in a transaction dated 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 of the company's stock, valued at approximately $54,290,561.58. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on MGY shares. Benchmark reissued a "hold" rating on shares of Magnolia Oil & Gas in a report on Tuesday, October 15th. Piper Sandler lowered their price target on Magnolia Oil & Gas from $29.00 to $26.00 and set a "neutral" rating on the stock in a report on Thursday, August 15th. Bank of America upped their price target on Magnolia Oil & Gas from $28.00 to $29.00 and gave the stock a "buy" rating in a research note on Tuesday, July 23rd. Mizuho lowered 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, Wells Fargo & Company lowered shares of 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. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Magnolia Oil & Gas currently has a consensus rating of "Hold" and an average price target of $27.67.

About Magnolia Oil & Gas

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.