Mutual of America Capital Management LLC Sells 1,439 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Mutual of America Capital Management LLC decreased its holdings in Magnolia Oil & Gas Co. (NYSE:MGY) by 4.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,300 shares of the company’s stock after selling 1,439 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Magnolia Oil & Gas were worth $691,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Natixis Advisors LLC boosted its holdings in shares of Magnolia Oil & Gas by 3.5% in the third quarter. Natixis Advisors LLC now owns 96,936 shares of the company’s stock worth $2,367,000 after buying an additional 3,238 shares during the last quarter. Valley Wealth Managers Inc. grew its position in shares of Magnolia Oil & Gas by 1.9% during the 3rd quarter. Valley Wealth Managers Inc. now owns 673,064 shares of the company’s stock valued at $16,436,000 after acquiring an additional 12,676 shares during the period. OneDigital Investment Advisors LLC increased its stake in shares of Magnolia Oil & Gas by 6.5% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 15,304 shares of the company’s stock worth $374,000 after purchasing an additional 933 shares in the last quarter. Diamond Hill Capital Management Inc. raised its holdings in Magnolia Oil & Gas by 1.0% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 565,939 shares of the company’s stock worth $13,820,000 after purchasing an additional 5,536 shares during the period. Finally, State of New Jersey Common Pension Fund D lifted its position in Magnolia Oil & Gas by 4.4% during the third quarter. State of New Jersey Common Pension Fund D now owns 77,092 shares of the company’s stock valued at $1,883,000 after purchasing an additional 3,230 shares in the last quarter. Institutional investors own 94.73% of the company’s stock.

Insiders Place Their Bets

In related news, Director Ltd. Enervest sold 7,000,000 shares of Magnolia Oil & Gas stock in a transaction that occurred 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 sale, the director now directly owns 2,099,403 shares in the company, valued at $54,290,561.58. The trade was a 76.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.20% of the stock is currently owned by corporate insiders.

Magnolia Oil & Gas Trading Down 0.9 %

Shares of NYSE MGY opened at $27.95 on Wednesday. The stock has a fifty day simple moving average of $26.22 and a 200-day simple moving average of $25.53. Magnolia Oil & Gas Co. has a twelve month low of $19.16 and a twelve 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 stock has a market capitalization of $5.49 billion, a PE ratio of 13.84, a PEG ratio of 1.46 and a beta of 1.99.

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

Magnolia Oil & Gas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.86%. The ex-dividend date is Friday, November 8th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 25.74%.

Wall Street Analysts Forecast Growth

MGY has been the subject of a number of recent analyst reports. Susquehanna dropped their price target on shares of Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Piper Sandler cut their price target on 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. Wells Fargo & Company downgraded Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $26.00 to $22.00 in a research report on Tuesday, October 1st. Mizuho cut 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. Finally, Benchmark reissued a “hold” rating on shares of Magnolia Oil & Gas in a research note on Tuesday, October 15th. Two investment 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 MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $27.67.

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.