Maven Securities LTD Invests $2.44 Million in Magnolia Oil & Gas Co. (NYSE:MGY)

Maven Securities LTD bought a new stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 100,000 shares of the company’s stock, valued at approximately $2,442,000. Maven Securities LTD owned approximately 0.05% of Magnolia Oil & Gas at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Tidal Investments LLC acquired a new position in Magnolia Oil & Gas during the 1st quarter worth approximately $566,000. GAMMA Investing LLC increased its stake in Magnolia Oil & Gas by 184.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock worth $41,000 after buying an additional 1,042 shares during the period. Massmutual Trust Co. FSB ADV boosted its position in Magnolia Oil & Gas by 1,753.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,038 shares of the company’s stock valued at $26,000 after buying an additional 982 shares during the last quarter. Fulton Bank N.A. grew its stake in shares of Magnolia Oil & Gas by 10.3% during the second quarter. Fulton Bank N.A. now owns 10,411 shares of the company’s stock valued at $264,000 after acquiring an additional 968 shares in the last quarter. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of Magnolia Oil & Gas during the second quarter worth about $26,000. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MGY has been the subject of a number of recent analyst reports. Wells Fargo & Company downgraded shares of Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $26.00 to $22.00 in a research report on Tuesday, October 1st. Piper Sandler cut their target price on shares of Magnolia Oil & Gas from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. Mizuho decreased their price target on Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Benchmark restated a “hold” rating on shares of Magnolia Oil & Gas in a research note on Tuesday, October 15th. Finally, Siebert Williams Shank downgraded shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a report on Tuesday, October 15th. 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 stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $27.67.

Insider Buying and Selling

In other Magnolia Oil & Gas news, Director Ltd. Enervest sold 7,000,000 shares of the business’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 sale, the director now directly owns 2,099,403 shares in the company, valued at approximately $54,290,561.58. The trade was a 76.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.40% of the stock is owned by corporate insiders.

Magnolia Oil & Gas Stock Performance

Shares of MGY stock opened at $27.44 on Wednesday. The business has a 50 day simple moving average of $26.46 and a 200 day simple moving average of $25.61. 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 firm has a market capitalization of $5.39 billion, a price-to-earnings ratio of 13.58, a price-to-earnings-growth ratio of 1.39 and a beta of 1.99. Magnolia Oil & Gas Co. has a 12-month low of $19.16 and a 12-month high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly 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 for the quarter, compared to analyst estimates of $331.45 million. Magnolia Oil & Gas had a return on equity of 20.78% and a net margin of 28.88%. On average, equities research analysts anticipate that Magnolia Oil & Gas Co. will post 1.99 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The business 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. The ex-dividend date was Friday, November 8th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.90%. Magnolia Oil & Gas’s dividend payout ratio is presently 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.