US Bancorp DE Sells 21,644 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

US Bancorp DE cut its position in Magnolia Oil & Gas Co. (NYSE:MGY) by 42.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,422 shares of the company’s stock after selling 21,644 shares during the quarter. US Bancorp DE’s holdings in Magnolia Oil & Gas were worth $718,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Magnolia Oil & Gas by 16.6% in the first quarter. Vanguard Group Inc. now owns 20,757,369 shares of the company’s stock worth $538,654,000 after buying an additional 2,956,314 shares in the last quarter. American Century Companies Inc. raised its holdings 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 acquiring an additional 847,542 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Magnolia Oil & Gas by 16.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,520,725 shares of the company’s stock valued at $114,554,000 after acquiring an additional 627,933 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Magnolia Oil & Gas by 1.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,061,846 shares of the company’s stock valued at $74,770,000 after acquiring an additional 50,351 shares during the last quarter. Finally, Boston Trust Walden Corp increased its position in shares of Magnolia Oil & Gas by 4.4% in the third quarter. Boston Trust Walden Corp now owns 2,823,126 shares of the company’s stock worth $68,941,000 after purchasing an additional 119,582 shares during the last quarter. 94.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. cut their price target on shares of Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Wolfe Research started coverage on Magnolia Oil & Gas in a research note on Thursday, July 18th. They issued an “outperform” rating and a $32.00 target price on the stock. Bank of America lifted their price target on Magnolia Oil & Gas from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Wells Fargo & Company lowered Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $26.00 to $22.00 in a research report on Tuesday, October 1st. Finally, Benchmark restated a “hold” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $27.67.

Magnolia Oil & Gas Stock Performance

NYSE:MGY opened at $27.41 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.47. Magnolia Oil & Gas Co. has a fifty-two week low of $19.16 and a fifty-two week high of $27.63. The business has a 50 day moving average price of $25.41 and a 200-day moving average price of $25.38. The firm has a market cap of $5.39 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 1.39 and a beta of 1.99.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. The business had revenue of $333.14 million for the quarter, compared to analyst estimates of $331.45 million. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.78%. Equities research analysts predict that Magnolia Oil & Gas Co. will post 1.99 earnings per share for the current year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Friday, November 8th. Magnolia Oil & Gas’s payout ratio is 25.74%.

Insiders Place Their Bets

In other news, Director Ltd. Enervest sold 7,000,000 shares of the business’s stock in a transaction that occurred 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 directly owns 2,099,403 shares of the company’s stock, valued at approximately $54,290,561.58. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.20% of the company’s stock.

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.