Magnolia Oil & Gas Co. (NYSE:MGY) Shares Sold by Stephens Investment Management Group LLC

Stephens Investment Management Group LLC reduced its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 4.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 2,739,348 shares of the company’s stock after selling 122,430 shares during the quarter. Stephens Investment Management Group LLC’s holdings in Magnolia Oil & Gas were worth $66,895,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV lifted its position in Magnolia Oil & Gas by 1,753.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,038 shares of the company’s stock worth $26,000 after acquiring an additional 982 shares during the period. Opal Wealth Advisors LLC purchased a new stake in Magnolia Oil & Gas in the 2nd quarter valued at approximately $26,000. GAMMA Investing LLC increased its position 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 purchasing an additional 1,042 shares during the period. Fidelis Capital Partners LLC purchased a new position in shares of Magnolia Oil & Gas during the 1st quarter worth approximately $50,000. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Magnolia Oil & Gas by 61.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,850 shares of the company’s stock valued at $72,000 after buying an additional 1,090 shares during the period. 94.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Benchmark reaffirmed a “hold” rating on shares of Magnolia Oil & Gas in a report on Tuesday, October 15th. Wells Fargo & Company cut shares of Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $26.00 to $22.00 in a research note on Tuesday, October 1st. Siebert Williams Shank cut 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 research note on Tuesday, October 15th. 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 research report on Monday, September 16th. Finally, Susquehanna dropped their target price on shares of Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $27.50.

Insiders Place Their Bets

In other Magnolia Oil & Gas news, Director Ltd. Enervest sold 7,000,000 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $25.86, for a total transaction of $181,020,000.00. Following the transaction, the director now owns 2,099,403 shares of the company’s stock, valued at $54,290,561.58. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.20% of the stock is owned by corporate insiders.

Magnolia Oil & Gas Trading Down 1.1 %

Shares of MGY opened at $25.28 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.28 and a quick ratio of 1.28. Magnolia Oil & Gas Co. has a 1-year low of $19.16 and a 1-year high of $27.63. The stock has a market cap of $5.03 billion, a price-to-earnings ratio of 12.51, a price-to-earnings-growth ratio of 1.30 and a beta of 1.99. The firm has a 50 day simple moving average of $25.32 and a 200-day simple moving average of $25.37.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. Magnolia Oil & Gas had a return on equity of 20.94% and a net margin of 28.88%. The firm had revenue of $333.14 million during the quarter, compared to analysts’ expectations of $331.45 million. Equities analysts forecast that Magnolia Oil & Gas Co. will post 1.99 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The company 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 is Friday, November 8th. This represents a $0.52 dividend on an annualized basis and a yield of 2.06%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 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.