9,702 Shares in Magnolia Oil & Gas Co. (NYSE:MGY) Bought by Townsquare Capital LLC

Townsquare Capital LLC bought a new position in Magnolia Oil & Gas Co. (NYSE:MGY) in the third quarter, HoldingsChannel.com reports. The firm bought 9,702 shares of the company’s stock, valued at approximately $237,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MGY. American Century Companies Inc. boosted its stake in Magnolia Oil & Gas by 9.9% in the 2nd quarter. American Century Companies Inc. now owns 9,389,368 shares of the company’s stock worth $237,927,000 after purchasing an additional 847,542 shares during the period. Dimensional Fund Advisors LP boosted its stake in Magnolia Oil & Gas by 16.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,520,725 shares of the company’s stock worth $114,554,000 after purchasing an additional 627,933 shares during the period. SIR Capital Management L.P. acquired a new position in Magnolia Oil & Gas in the 2nd quarter worth $15,106,000. Boston Trust Walden Corp boosted its stake in Magnolia Oil & Gas by 26.7% in the 2nd quarter. Boston Trust Walden Corp now owns 2,703,544 shares of the company’s stock worth $68,508,000 after purchasing an additional 568,998 shares during the period. Finally, Diamond Hill Capital Management Inc. acquired a new position in shares of Magnolia Oil & Gas during the 2nd quarter worth about $14,201,000. 94.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Magnolia Oil & Gas

In other news, Director Ltd. Enervest sold 7,000,000 shares of the firm’s 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 approximately $54,290,561.58. This trade represents a 76.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

MGY has been the subject of a number of recent research reports. Benchmark restated a “hold” rating on shares of Magnolia Oil & Gas in a research note on Tuesday, October 15th. 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 note 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 price objective for the company. in a research note on Tuesday, October 15th. JPMorgan Chase & Co. reduced their price objective on shares of Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Finally, Piper Sandler reduced their price objective on shares of 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. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $27.67.

Magnolia Oil & Gas Stock Down 3.7 %

Magnolia Oil & Gas stock opened at $25.67 on Friday. The stock has a market cap of $5.05 billion, a P/E ratio of 12.71, a P/E/G ratio of 1.40 and a beta of 1.99. 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 twelve month low of $19.16 and a twelve month high of $29.02. The company’s 50-day moving average price is $26.58 and its two-hundred day moving average price is $25.62.

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

Magnolia Oil & Gas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were issued a $0.13 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.52 annualized dividend and a yield of 2.03%. Magnolia Oil & Gas’s dividend payout ratio is currently 25.74%.

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.