Fmr LLC Acquires 22,171 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Fmr LLC raised its holdings in Magnolia Oil & Gas Co. (NYSE:MGY) by 174.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,851 shares of the company’s stock after acquiring an additional 22,171 shares during the period. Fmr LLC’s holdings in Magnolia Oil & Gas were worth $851,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of MGY. Harbor Capital Advisors Inc. acquired a new stake in shares of Magnolia Oil & Gas during the 3rd quarter valued at $25,000. First Horizon Advisors Inc. boosted its stake 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 purchasing an additional 396 shares in the last quarter. GAMMA Investing LLC grew its holdings 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 worth $64,000 after purchasing an additional 1,002 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Magnolia Oil & Gas by 61.9% in the second quarter. Nisa Investment Advisors LLC now owns 2,850 shares of the company’s stock valued at $72,000 after buying an additional 1,090 shares during the period. Finally, Covestor Ltd raised its holdings in Magnolia Oil & Gas by 36.8% in the 3rd quarter. Covestor Ltd now owns 2,986 shares of the company’s stock valued at $73,000 after buying an additional 804 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Price Performance

Shares of MGY opened at $24.24 on Wednesday. The firm has a market cap of $4.76 billion, a PE ratio of 11.95, a price-to-earnings-growth ratio of 1.29 and a beta of 1.99. Magnolia Oil & Gas Co. has a 52-week low of $19.16 and a 52-week high of $29.02. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.47. The business’s 50 day moving average price is $26.55 and its two-hundred day moving average price is $25.65.

Magnolia Oil & Gas (NYSE:MGY) last released its 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 company 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%. On average, equities analysts anticipate that Magnolia Oil & Gas Co. will post 2 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were given a dividend of $0.13 per share. The ex-dividend date was Friday, November 8th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.15%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 25.74%.

Insider Activity

In related news, Director Ltd. Enervest sold 7,000,000 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $25.86, for a total value of $181,020,000.00. Following the transaction, the director now directly owns 2,099,403 shares in the company, valued at $54,290,561.58. This trade represents a 76.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

MGY has been the topic of a number of research reports. Truist Financial boosted their target price on shares of Magnolia Oil & Gas from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Benchmark restated a “hold” rating on shares of Magnolia Oil & Gas in a report on Tuesday, October 15th. Mizuho lifted their target price on Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday. Wells Fargo & Company lowered Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $26.00 to $22.00 in a research report on Tuesday, October 1st. Finally, Siebert Williams Shank downgraded Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a research report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $27.58.

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.