Magnolia Oil & Gas Co. (NYSE:MGY) Shares Purchased by Quantbot Technologies LP

Quantbot Technologies LP grew its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 101.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 230,601 shares of the company’s stock after purchasing an additional 115,894 shares during the quarter. Quantbot Technologies LP owned approximately 0.12% of Magnolia Oil & Gas worth $5,631,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in MGY. Quadrature Capital Ltd acquired a new stake in shares of Magnolia Oil & Gas in the first quarter valued at approximately $307,000. BOKF NA purchased a new position in Magnolia Oil & Gas during the 1st quarter worth $269,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Magnolia Oil & Gas by 0.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 594,173 shares of the company’s stock valued at $15,419,000 after buying an additional 1,624 shares during the last quarter. Tidal Investments LLC acquired a new stake in shares of Magnolia Oil & Gas during the first quarter worth about $566,000. Finally, Comerica Bank grew its holdings in shares of Magnolia Oil & Gas by 38.8% during the first 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 last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on MGY shares. Piper Sandler reduced their price objective on Magnolia Oil & Gas from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. JPMorgan Chase & Co. decreased their price target on Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Siebert Williams Shank cut shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a research note on Tuesday, October 15th. Wells Fargo & Company cut shares of Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $26.00 to $22.00 in a research note on Tuesday, October 1st. Finally, Mizuho dropped their price target on shares of Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $27.67.

Insider Buying and Selling at Magnolia Oil & Gas

In related news, Director Ltd. Enervest sold 7,000,000 shares of the company’s stock in a transaction that occurred on 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 owns 2,099,403 shares of the company’s stock, valued at approximately $54,290,561.58. This represents a 76.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.40% of the stock is owned by insiders.

Magnolia Oil & Gas Stock Down 0.9 %

MGY opened at $27.95 on Wednesday. The company has a market cap of $5.49 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 1.43 and a beta of 1.99. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.47. Magnolia Oil & Gas Co. has a one year low of $19.16 and a one year high of $29.02. The business’s fifty day moving average is $26.22 and its two-hundred day moving average is $25.53.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.04. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.78%. The company had revenue of $333.14 million for the quarter, compared to the consensus estimate of $331.45 million. Analysts anticipate that Magnolia Oil & Gas Co. will post 1.99 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be issued a $0.13 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.86%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 25.74%.

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.