Natixis Advisors LLC Raises Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Natixis Advisors LLC lifted its stake in Magnolia Oil & Gas Co. (NYSE:MGY) by 3.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 96,936 shares of the company’s stock after purchasing an additional 3,238 shares during the quarter. Natixis Advisors LLC’s holdings in Magnolia Oil & Gas were worth $2,367,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Oliver Luxxe Assets LLC boosted its position in Magnolia Oil & Gas by 80.6% in the third quarter. Oliver Luxxe Assets LLC now owns 87,624 shares of the company’s stock valued at $2,140,000 after buying an additional 39,098 shares during the last quarter. Argent Capital Management LLC increased its stake in shares of Magnolia Oil & Gas by 56.8% in the second quarter. Argent Capital Management LLC now owns 29,111 shares of the company’s stock worth $738,000 after acquiring an additional 10,547 shares during the period. CANADA LIFE ASSURANCE Co raised its holdings in shares of Magnolia Oil & Gas by 740.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 157,757 shares of the company’s stock worth $4,092,000 after purchasing an additional 138,982 shares during the last quarter. Comerica Bank lifted its position in Magnolia Oil & Gas by 38.8% during the first quarter. Comerica Bank now owns 172,569 shares of the company’s stock valued at $4,478,000 after purchasing an additional 48,228 shares during the period. Finally, Tidal Investments LLC purchased a new stake in Magnolia Oil & Gas in the first quarter valued at $566,000. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MGY has been the subject of a number of recent research reports. Benchmark reiterated a “hold” rating on shares of Magnolia Oil & Gas in a research note on Tuesday, October 15th. JPMorgan Chase & Co. decreased their price target on Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Truist Financial raised their price objective on shares of Magnolia Oil & Gas from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Piper Sandler decreased their target price on shares of Magnolia Oil & Gas from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. Finally, Mizuho dropped their price target on shares of Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Magnolia Oil & Gas presently has a consensus rating of “Hold” and a consensus price target of $27.67.

Insider Buying and Selling at Magnolia Oil & Gas

In related news, Director Ltd. Enervest sold 7,000,000 shares of the business’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 completion of the transaction, the director now owns 2,099,403 shares in the company, valued at approximately $54,290,561.58. The trade was a 76.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.20% of the stock is owned by corporate insiders.

Magnolia Oil & Gas Stock Up 2.0 %

Shares of NYSE:MGY opened at $28.79 on Monday. The business has a 50-day moving average price of $26.14 and a 200 day moving average price of $25.52. Magnolia Oil & Gas Co. has a 12-month low of $19.16 and a 12-month high of $29.02. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $5.66 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 1.44 and a beta of 1.99.

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

Magnolia Oil & Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend is Friday, November 8th. Magnolia Oil & Gas’s payout ratio is currently 25.74%.

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.