State of Alaska Department of Revenue boosted its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY – Free Report) by 1.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 107,375 shares of the company’s stock after buying an additional 1,147 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.05% of Magnolia Oil & Gas worth $2,622,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in MGY. Massmutual Trust Co. FSB ADV lifted its stake in shares of 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 worth $26,000 after acquiring an additional 982 shares during the period. Opal Wealth Advisors LLC acquired a new position in shares of Magnolia Oil & Gas in the 2nd quarter worth approximately $26,000. GAMMA Investing LLC boosted its stake in shares of Magnolia Oil & Gas by 184.4% in the 2nd 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. Fidelis Capital Partners LLC bought a new stake in shares of Magnolia Oil & Gas in the 1st quarter valued at $50,000. Finally, 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 worth $72,000 after buying an additional 1,090 shares during the period. Institutional investors own 94.73% of the company’s stock.
Magnolia Oil & Gas Stock Performance
Shares of MGY stock opened at $25.28 on Friday. Magnolia Oil & Gas Co. has a 12 month low of $19.16 and a 12 month high of $27.63. The firm has a market capitalization of $5.12 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 1.33 and a beta of 1.99. The firm has a fifty day simple moving average of $25.31 and a two-hundred day simple moving average of $25.37. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.21.
Magnolia Oil & Gas Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be issued a $0.13 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.06%. Magnolia Oil & Gas’s dividend payout ratio is presently 25.87%.
Analyst Upgrades and Downgrades
A number of brokerages have commented on MGY. Wells Fargo & Company cut shares of 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 research report on Tuesday, October 1st. Siebert Williams Shank lowered Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a research report on Tuesday, October 15th. Piper Sandler lowered their target price on Magnolia Oil & Gas from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday, August 15th. Truist Financial dropped their price target on Magnolia Oil & Gas from $35.00 to $31.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Finally, Mizuho reduced their price objective on shares of 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 investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $27.50.
Read Our Latest Research Report on Magnolia Oil & Gas
Insider Activity at Magnolia Oil & Gas
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 completion of the sale, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.20% of the stock is owned by 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.
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