Signaturefd LLC Has $96,000 Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Signaturefd LLC cut its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 64.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,920 shares of the company’s stock after selling 7,192 shares during the quarter. Signaturefd LLC’s holdings in Magnolia Oil & Gas were worth $96,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MGY. Vanguard Group Inc. lifted its stake in shares of Magnolia Oil & Gas by 16.6% in the 1st quarter. Vanguard Group Inc. now owns 20,757,369 shares of the company’s stock valued at $538,654,000 after purchasing an additional 2,956,314 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in shares of Magnolia Oil & Gas in the 1st quarter valued at about $30,161,000. American Century Companies Inc. lifted its stake in shares of Magnolia Oil & Gas by 9.9% in the 2nd quarter. American Century Companies Inc. now owns 9,389,368 shares of the company’s stock valued at $237,927,000 after purchasing an additional 847,542 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Magnolia Oil & Gas by 16.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,520,725 shares of the company’s stock valued at $114,554,000 after purchasing an additional 627,933 shares during the period. Finally, SIR Capital Management L.P. acquired a new position in shares of Magnolia Oil & Gas in the 2nd quarter valued at about $15,106,000. 94.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MGY. Wells Fargo & Company downgraded Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $26.00 to $22.00 in a research note on Tuesday, October 1st. Benchmark reaffirmed a “hold” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, October 15th. Piper Sandler decreased their target price on Magnolia Oil & Gas from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. Mizuho decreased their target price on Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Finally, JPMorgan Chase & Co. decreased their target price on Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Magnolia Oil & Gas has an average rating of “Hold” and a consensus target price of $27.50.

Magnolia Oil & Gas Price Performance

Magnolia Oil & Gas stock opened at $25.57 on Tuesday. Magnolia Oil & Gas Co. has a 12 month low of $19.16 and a 12 month high of $27.63. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.21. The business’s 50 day simple moving average is $25.27 and its 200 day simple moving average is $25.39. The company has a market cap of $5.18 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 1.33 and a beta of 1.99.

Magnolia Oil & Gas (NYSE:MGY) last posted its earnings results on Wednesday, July 31st. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.05. The firm had revenue of $336.73 million for the quarter, compared to the consensus estimate of $340.72 million. Magnolia Oil & Gas had a return on equity of 21.18% and a net margin of 29.44%. Sell-side analysts forecast that Magnolia Oil & Gas Co. will post 1.98 EPS for the current year.

Insider Transactions at Magnolia Oil & Gas

In other 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 value of $181,020,000.00. Following 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.20% of the company’s stock.

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.