Blue Trust Inc. Has $180,000 Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Blue Trust Inc. trimmed its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 57.8% during the third quarter, Holdings Channel.com reports. The firm owned 7,105 shares of the company’s stock after selling 9,746 shares during the period. Blue Trust Inc.’s holdings in Magnolia Oil & Gas were worth $180,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MGY. Massmutual Trust Co. FSB ADV raised its position in 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 valued at $26,000 after buying an additional 982 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of Magnolia Oil & Gas in the 2nd quarter worth $26,000. GAMMA Investing LLC raised its holdings in shares of Magnolia Oil & Gas by 184.4% in the second 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 purchased a new stake in Magnolia Oil & Gas in the 1st quarter valued at about $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 valued at $72,000 after acquiring an additional 1,090 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Magnolia Oil & Gas news, Director Ltd. Enervest sold 7,000,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Magnolia Oil & Gas Price Performance

Magnolia Oil & Gas stock opened at $26.00 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.28 and a quick ratio of 1.28. Magnolia Oil & Gas Co. has a one year low of $19.16 and a one year high of $27.63. The firm has a market capitalization of $5.27 billion, a P/E ratio of 12.94, a PEG ratio of 1.33 and a beta of 1.99. The business has a fifty day moving average price of $25.27 and a 200-day moving average price of $25.40.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.51 by $0.05. The company had revenue of $336.73 million during the quarter, compared to analysts’ expectations of $340.72 million. Magnolia Oil & Gas had a net margin of 29.44% and a return on equity of 21.18%. As a group, equities research analysts forecast that Magnolia Oil & Gas Co. will post 1.98 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend was Friday, August 9th. Magnolia Oil & Gas’s dividend payout ratio is presently 25.87%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on MGY shares. Mizuho cut their price target on shares of Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Susquehanna reduced their target price 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. Benchmark reaffirmed a “hold” rating on shares of Magnolia Oil & Gas in a report on Tuesday, October 15th. Truist Financial dropped their price objective 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, Piper Sandler decreased 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 research 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $27.50.

Magnolia Oil & Gas 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.