OneDigital Investment Advisors LLC Grows Position in Magnolia Oil & Gas Co. (NYSE:MGY)

OneDigital Investment Advisors LLC boosted its holdings in Magnolia Oil & Gas Co. (NYSE:MGY) by 6.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,304 shares of the company’s stock after buying an additional 933 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Magnolia Oil & Gas were worth $374,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Harbor Capital Advisors Inc. purchased a new stake in Magnolia Oil & Gas in the third quarter worth approximately $25,000. Massmutual Trust Co. FSB ADV lifted its stake in shares of Magnolia Oil & Gas by 1,753.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,038 shares of the company’s stock worth $26,000 after purchasing an additional 982 shares during the period. Opal Wealth Advisors LLC bought a new stake in Magnolia Oil & Gas during the second quarter valued at approximately $26,000. GAMMA Investing LLC increased its holdings in Magnolia Oil & Gas by 184.4% during the second quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock valued at $41,000 after buying an additional 1,042 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its position in Magnolia Oil & Gas by 61.9% in the second quarter. Nisa Investment Advisors LLC now owns 2,850 shares of the company’s stock worth $72,000 after acquiring an additional 1,090 shares during the period. Institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Trading Up 1.9 %

Shares of NYSE MGY opened at $28.23 on Friday. The stock has a market capitalization of $5.55 billion, a P/E ratio of 13.93, a PEG ratio of 1.39 and a beta of 1.99. Magnolia Oil & Gas Co. has a 1-year low of $19.16 and a 1-year high of $28.32. The business’s 50 day moving average is $25.94 and its two-hundred day moving average is $25.48. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.47 and a quick ratio of 1.47.

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

Magnolia Oil & Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date is Friday, November 8th. Magnolia Oil & Gas’s dividend payout ratio is currently 25.74%.

Analyst Ratings Changes

Several research firms recently weighed in on MGY. Susquehanna lowered their target price on Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Mizuho decreased their price objective on shares of Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Siebert Williams Shank downgraded shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 target price for the company. in a report on Tuesday, October 15th. JPMorgan Chase & Co. lowered their price objective on Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Finally, Piper Sandler cut their target price on Magnolia Oil & Gas from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. Two investment 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $27.67.

Insider Activity at Magnolia Oil & Gas

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 shares were sold at an average price of $25.86, for a total transaction of $181,020,000.00. Following the transaction, the director now directly owns 2,099,403 shares of the company’s stock, valued at $54,290,561.58. This trade represents a 76.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.20% of the stock is currently owned by company 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.