Sanctuary Advisors LLC Purchases 1,857 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Sanctuary Advisors LLC lifted its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 11.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,123 shares of the company’s stock after purchasing an additional 1,857 shares during the quarter. Sanctuary Advisors LLC’s holdings in Magnolia Oil & Gas were worth $443,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC raised its stake in Magnolia Oil & Gas by 174.9% during the 3rd quarter. FMR LLC now owns 34,851 shares of the company’s stock worth $851,000 after buying an additional 22,171 shares during the period. Oliver Luxxe Assets LLC lifted its holdings in shares of Magnolia Oil & Gas by 80.6% during the 3rd quarter. Oliver Luxxe Assets LLC now owns 87,624 shares of the company’s stock valued at $2,140,000 after purchasing an additional 39,098 shares in the last quarter. Ensign Peak Advisors Inc grew its position in shares of Magnolia Oil & Gas by 5.6% in the 2nd quarter. Ensign Peak Advisors Inc now owns 68,919 shares of the company’s stock valued at $1,746,000 after purchasing an additional 3,630 shares during the period. Intech Investment Management LLC bought a new stake in Magnolia Oil & Gas during the 3rd quarter worth approximately $1,252,000. Finally, Bank of New York Mellon Corp raised its holdings in Magnolia Oil & Gas by 1.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,976,184 shares of the company’s stock worth $50,077,000 after buying an additional 36,018 shares during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on MGY shares. JPMorgan Chase & Co. reduced 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 report on Thursday, September 12th. Susquehanna lowered their target price on Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Wells Fargo & Company lowered Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $26.00 to $22.00 in a report on Tuesday, October 1st. Siebert Williams Shank cut 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. Finally, Benchmark reissued a “hold” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $27.58.

Magnolia Oil & Gas Price Performance

NYSE:MGY opened at $23.12 on Friday. The stock has a market capitalization of $4.54 billion, a PE ratio of 11.45, a P/E/G ratio of 1.29 and a beta of 1.99. Magnolia Oil & Gas Co. has a 1-year low of $19.16 and a 1-year high of $29.02. The firm has a fifty day simple moving average of $26.12 and a 200 day simple moving average of $25.57. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. The company had revenue of $333.14 million during 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, research analysts expect that Magnolia Oil & Gas Co. will post 2 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were paid a $0.13 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.52 annualized dividend and a yield of 2.25%. Magnolia Oil & Gas’s dividend payout ratio is 25.74%.

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.