UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Lowers Position in Magnolia Oil & Gas Co. (NYSE:MGY)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in Magnolia Oil & Gas Co. (NYSE:MGY) by 11.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 224,528 shares of the company’s stock after selling 28,108 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.11% of Magnolia Oil & Gas worth $5,483,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Harbor Capital Advisors Inc. purchased a new stake in shares of Magnolia Oil & Gas in the third quarter worth approximately $25,000. First Horizon Advisors Inc. increased its position in shares of Magnolia Oil & Gas by 64.7% during the third quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock valued at $25,000 after acquiring an additional 396 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Magnolia Oil & Gas by 62.4% during the third quarter. GAMMA Investing LLC now owns 2,609 shares of the company’s stock valued at $64,000 after acquiring an additional 1,002 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Magnolia Oil & Gas by 61.9% during the second quarter. Nisa Investment Advisors LLC now owns 2,850 shares of the company’s stock valued at $72,000 after acquiring an additional 1,090 shares during the last quarter. Finally, Covestor Ltd increased its position in shares of Magnolia Oil & Gas by 36.8% during the third quarter. Covestor Ltd now owns 2,986 shares of the company’s stock valued at $73,000 after acquiring an additional 804 shares during the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Truist Financial increased their price target on Magnolia Oil & Gas from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Siebert Williams Shank downgraded Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a research report on Tuesday, October 15th. 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. Finally, 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. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Magnolia Oil & Gas has a consensus rating of “Hold” and a consensus price target of $27.67.

Magnolia Oil & Gas Price Performance

Magnolia Oil & Gas stock opened at $25.61 on Wednesday. Magnolia Oil & Gas Co. has a one year low of $19.16 and a one year high of $29.02. The business has a fifty day moving average price of $26.62 and a 200-day moving average price of $25.64. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.47 and a quick ratio of 1.47. The firm has a market capitalization of $5.03 billion, a P/E ratio of 12.68, a PEG ratio of 1.31 and a beta of 1.99.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. The firm had revenue of $333.14 million during 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%. As a group, equities research analysts forecast that Magnolia Oil & Gas Co. will post 1.99 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend was Friday, November 8th. Magnolia Oil & Gas’s dividend payout ratio is 25.74%.

Insider Activity at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, Director Ltd. Enervest sold 7,000,000 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 2,099,403 shares in the company, valued at $54,290,561.58. This trade represents a 76.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.40% of the stock is owned by corporate insiders.

Magnolia Oil & Gas Company 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.