Atria Investments Inc Purchases 523 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Atria Investments Inc boosted its position in Magnolia Oil & Gas Co. (NYSE:MGY) by 2.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,576 shares of the company’s stock after acquiring an additional 523 shares during the period. Atria Investments Inc’s holdings in Magnolia Oil & Gas were worth $576,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MGY. Harbor Capital Advisors Inc. bought a new position in Magnolia Oil & Gas during the third quarter worth about $25,000. Massmutual Trust Co. FSB ADV boosted its holdings in Magnolia Oil & Gas by 1,753.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,038 shares of the company’s stock worth $26,000 after buying an additional 982 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in Magnolia Oil & Gas during the second quarter worth about $26,000. GAMMA Investing LLC boosted its holdings in Magnolia Oil & Gas by 184.4% during the second quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock worth $41,000 after buying an additional 1,042 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings 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 during the last quarter. Institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Down 0.6 %

Shares of Magnolia Oil & Gas stock opened at $27.29 on Wednesday. The business’s 50 day simple moving average is $25.77 and its 200 day simple moving average is $25.45. Magnolia Oil & Gas Co. has a 52-week low of $19.16 and a 52-week high of $27.96. The firm has a market cap of $5.36 billion, a PE ratio of 13.51, a P/E/G ratio of 1.37 and a beta of 1.99. 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 (NYSE:MGY) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.04. The firm had revenue of $333.14 million for the quarter, compared to analyst estimates of $331.45 million. Magnolia Oil & Gas had a return on equity of 20.78% and a net margin of 28.88%. On average, analysts predict that Magnolia Oil & Gas Co. will post 1.99 earnings per share for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The business 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 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Friday, November 8th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 25.74%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Benchmark restated a “hold” rating on shares of Magnolia Oil & Gas in a report on Tuesday, October 15th. Mizuho cut their price objective on Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Susquehanna cut their price objective on Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Siebert Williams Shank cut Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a report on Tuesday, October 15th. Finally, Piper Sandler cut their price objective on Magnolia Oil & Gas from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. Two equities 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. Based on data from MarketBeat, Magnolia Oil & Gas currently has an average rating of “Hold” and an average target price of $27.67.

Insiders Place Their Bets

In other Magnolia Oil & Gas 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 owns 2,099,403 shares of the company’s stock, valued at $54,290,561.58. The trade was a 76.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.40% 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.