PNC Financial Services Group Inc. Has $1.14 Million Stock Position in Magnolia Oil & Gas Co. (NYSE:MGY)

PNC Financial Services Group Inc. increased its holdings in Magnolia Oil & Gas Co. (NYSE:MGY) by 33.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,570 shares of the company’s stock after acquiring an additional 13,288 shares during the period. PNC Financial Services Group Inc.’s holdings in Magnolia Oil & Gas were worth $1,141,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Brown Advisory Inc. purchased a new stake in shares of Magnolia Oil & Gas in the fourth quarter worth approximately $694,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Magnolia Oil & Gas by 9.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,041,390 shares of the company’s stock valued at $64,751,000 after buying an additional 274,908 shares during the period. Corient Private Wealth LLC grew its holdings in shares of Magnolia Oil & Gas by 86.5% during the 4th quarter. Corient Private Wealth LLC now owns 338,540 shares of the company’s stock valued at $7,208,000 after acquiring an additional 156,977 shares in the last quarter. Vest Financial LLC increased its stake in shares of Magnolia Oil & Gas by 51.4% in the fourth quarter. Vest Financial LLC now owns 606,277 shares of the company’s stock worth $12,908,000 after acquiring an additional 205,924 shares during the last quarter. Finally, Wasatch Advisors LP raised its holdings in shares of Magnolia Oil & Gas by 2.2% during the fourth quarter. Wasatch Advisors LP now owns 3,679,262 shares of the company’s stock worth $78,331,000 after acquiring an additional 77,733 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Magnolia Oil & Gas Stock Down 0.4 %

MGY stock opened at $24.88 on Monday. The stock has a market capitalization of $5.04 billion, a price-to-earnings ratio of 12.38, a price-to-earnings-growth ratio of 1.40 and a beta of 2.00. The company has a 50-day moving average of $25.28 and a two-hundred day moving average of $23.39. Magnolia Oil & Gas Co. has a 52-week low of $19.16 and a 52-week high of $27.33. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.71 and a quick ratio of 1.71.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Tuesday, May 7th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.05. The firm had revenue of $319.42 million during the quarter, compared to the consensus estimate of $308.21 million. Magnolia Oil & Gas had a return on equity of 20.41% and a net margin of 30.46%. As a group, equities research analysts anticipate that Magnolia Oil & Gas Co. will post 2.25 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were paid a $0.13 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $0.52 annualized dividend and a dividend yield of 2.09%. Magnolia Oil & Gas’s payout ratio is 25.87%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. The Goldman Sachs Group lifted their price objective on Magnolia Oil & Gas from $24.50 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, March 26th. Bank of America initiated coverage on shares of Magnolia Oil & Gas in a research report on Tuesday, February 27th. They set a “buy” rating and a $25.00 price objective on the stock. Susquehanna boosted their target price on shares of Magnolia Oil & Gas from $28.00 to $31.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. Capital One Financial began coverage on shares of Magnolia Oil & Gas in a report on Tuesday, June 11th. They set an “overweight” rating and a $28.00 price target on the stock. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $29.00 price objective on shares of Magnolia Oil & Gas in a research note on Friday, April 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $28.11.

Insider Buying and Selling

In other Magnolia Oil & Gas news, Director John B. Walker sold 12,000,000 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $25.58, for a total value of $306,960,000.00. Following the completion of the sale, the director now directly owns 4,164,961 shares of the company’s stock, valued at approximately $106,539,702.38. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.20% of the stock is currently owned by insiders.

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.