SG Americas Securities LLC Sells 21,759 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

SG Americas Securities LLC lessened its stake in Magnolia Oil & Gas Co. (NYSE:MGY) by 69.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,671 shares of the company’s stock after selling 21,759 shares during the quarter. SG Americas Securities LLC’s holdings in Magnolia Oil & Gas were worth $236,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mather Group LLC. bought a new stake in Magnolia Oil & Gas in the first quarter valued at about $27,000. Massmutual Trust Co. FSB ADV increased its holdings in Magnolia Oil & Gas by 1,753.6% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,038 shares of the company’s stock valued at $26,000 after purchasing an additional 982 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in Magnolia Oil & Gas in the second quarter valued at about $26,000. GAMMA Investing LLC increased its holdings in Magnolia Oil & Gas by 184.4% in the second quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock valued at $41,000 after purchasing an additional 1,042 shares during the last quarter. Finally, Fidelis Capital Partners LLC bought a new stake in Magnolia Oil & Gas in the first quarter valued at about $50,000. Institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Down 0.9 %

MGY stock opened at $25.89 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.28 and a quick ratio of 1.28. The stock has a market capitalization of $5.16 billion, a P/E ratio of 12.69, a P/E/G ratio of 1.34 and a beta of 1.99. The business has a 50-day moving average of $25.20 and a 200-day moving average of $25.41. Magnolia Oil & Gas Co. has a fifty-two week low of $19.16 and a fifty-two week high of $27.63.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.05. Magnolia Oil & Gas had a return on equity of 21.18% and a net margin of 29.44%. The company had revenue of $336.73 million during the quarter, compared to analysts’ expectations of $340.72 million. On average, sell-side analysts anticipate that Magnolia Oil & Gas Co. will post 1.98 earnings per share for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a dividend of $0.13 per share. The ex-dividend date was Friday, August 9th. This represents a $0.52 annualized dividend and a yield of 2.01%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 25.49%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MGY. Siebert Williams Shank cut Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 target price for the company. in a research note on Tuesday, October 15th. Wolfe Research began coverage on Magnolia Oil & Gas in a research note on Thursday, July 18th. They issued an “outperform” rating and a $32.00 target price for the company. Wells Fargo & Company cut Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $26.00 to $22.00 in a research note on Tuesday, October 1st. 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 note on Monday, September 16th. Finally, Susquehanna decreased their target price on Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $27.50.

Insider Activity at Magnolia Oil & Gas

In related news, Director Ltd. Enervest sold 7,000,000 shares of the 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 completion of the transaction, the director now directly owns 2,099,403 shares of the company’s stock, valued at approximately $54,290,561.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.20% of the company’s stock.

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.