Swiss National Bank Sells 5,500 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Swiss National Bank reduced its position in Magnolia Oil & Gas Co. (NYSE:MGY) by 1.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 335,500 shares of the company’s stock after selling 5,500 shares during the quarter. Swiss National Bank’s holdings in Magnolia Oil & Gas were worth $8,193,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Oliver Luxxe Assets LLC lifted its position in Magnolia Oil & Gas by 80.6% during the third 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 during the last quarter. Argent Capital Management LLC lifted its position in Magnolia Oil & Gas by 56.8% during the second quarter. Argent Capital Management LLC now owns 29,111 shares of the company’s stock valued at $738,000 after purchasing an additional 10,547 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its position in Magnolia Oil & Gas by 740.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 157,757 shares of the company’s stock valued at $4,092,000 after purchasing an additional 138,982 shares during the last quarter. Comerica Bank lifted its position in Magnolia Oil & Gas by 38.8% during the first quarter. Comerica Bank now owns 172,569 shares of the company’s stock valued at $4,478,000 after purchasing an additional 48,228 shares during the last quarter. Finally, Tidal Investments LLC bought a new stake in Magnolia Oil & Gas during the first quarter valued at approximately $566,000. 94.73% of the stock is currently owned by institutional investors.

Magnolia Oil & Gas Stock Down 2.0 %

Shares of NYSE MGY opened at $28.21 on Tuesday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas Co. has a 52 week low of $19.16 and a 52 week high of $29.02. The firm’s fifty day moving average is $26.14 and its 200 day moving average is $25.51. The company has a market cap of $5.54 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 1.46 and a beta of 1.99.

Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results on Wednesday, October 30th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.48 by $0.04. The company had revenue of $333.14 million for 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, equities research analysts expect that Magnolia Oil & Gas Co. will post 1.99 earnings per share for the current year.

Magnolia Oil & Gas Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Friday, November 8th. Magnolia Oil & Gas’s payout ratio is currently 25.74%.

Wall Street Analysts Forecast Growth

MGY has been the subject of several research analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Piper Sandler decreased their price target on shares of Magnolia Oil & Gas from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. Benchmark reissued a “hold” rating on shares of Magnolia Oil & Gas in a research note on Tuesday, October 15th. Wells Fargo & Company downgraded shares of Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $26.00 to $22.00 in a research note on Tuesday, October 1st. Finally, Susquehanna decreased their price target on shares of Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $27.67.

Insider Buying and Selling at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, Director Ltd. Enervest sold 7,000,000 shares of the business’s stock in a transaction 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 approximately $54,290,561.58. The trade was a 76.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.40% of the company’s stock.

About Magnolia Oil & Gas

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.