Blue Trust Inc. Sells 9,746 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Blue Trust Inc. lessened its holdings in Magnolia Oil & Gas Co. (NYSE:MGY) by 57.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,105 shares of the company’s stock after selling 9,746 shares during the quarter. Blue Trust Inc.’s holdings in Magnolia Oil & Gas were worth $180,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Massmutual Trust Co. FSB ADV increased its stake 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 acquired a new position in Magnolia Oil & Gas in the second quarter valued at about $26,000. GAMMA Investing LLC raised its stake in Magnolia Oil & Gas by 184.4% in the second quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock valued at $41,000 after purchasing an additional 1,042 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in Magnolia Oil & Gas during the first quarter worth about $50,000. Finally, Nisa Investment Advisors LLC grew its stake in Magnolia Oil & Gas by 61.9% during the second quarter. Nisa Investment Advisors LLC now owns 2,850 shares of the company’s stock worth $72,000 after buying an additional 1,090 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, Director Ltd. Enervest sold 7,000,000 shares of the company’s stock in a transaction 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 sale, the director now owns 2,099,403 shares of the company’s stock, valued at approximately $54,290,561.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on MGY shares. Wells Fargo & Company downgraded shares of Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $26.00 to $22.00 in a report on Tuesday, October 1st. Siebert Williams Shank cut Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 target price for the company. in a research note on Tuesday, October 15th. Mizuho decreased their price target on 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. Bank of America upped their price objective on Magnolia Oil & Gas from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Finally, Susquehanna decreased their target price on Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $27.50.

Magnolia Oil & Gas Stock Performance

Magnolia Oil & Gas stock opened at $26.00 on Friday. The business has a 50 day moving average of $25.27 and a 200-day moving average of $25.40. The company has a market capitalization of $5.27 billion, a P/E ratio of 12.94, a P/E/G ratio of 1.33 and a beta of 1.99. Magnolia Oil & Gas Co. has a 1 year low of $19.16 and a 1 year high of $27.63. 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 (NYSE:MGY) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.05. Magnolia Oil & Gas had a net margin of 29.44% and a return on equity of 21.18%. The firm had revenue of $336.73 million during the quarter, compared to the consensus estimate of $340.72 million. On average, equities research analysts predict that Magnolia Oil & Gas Co. will post 1.98 earnings per share for the current year.

Magnolia Oil & Gas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.00%. The ex-dividend date was Friday, August 9th. Magnolia Oil & Gas’s payout ratio is presently 25.87%.

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.