Magnolia Oil & Gas Co. (NYSE:MGY) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 3.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,991,017 shares of the company’s stock after acquiring an additional 75,305 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Magnolia Oil & Gas were worth $48,621,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its holdings in Magnolia Oil & Gas by 9.9% in the second quarter. American Century Companies Inc. now owns 9,389,368 shares of the company’s stock valued at $237,927,000 after purchasing an additional 847,542 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of 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 valued at $114,554,000 after buying an additional 627,933 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Magnolia Oil & Gas by 1.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,061,846 shares of the company’s stock valued at $74,770,000 after buying an additional 50,351 shares in the last quarter. Boston Trust Walden Corp grew its position in shares of Magnolia Oil & Gas by 4.4% in the 3rd quarter. Boston Trust Walden Corp now owns 2,823,126 shares of the company’s stock valued at $68,941,000 after buying an additional 119,582 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in Magnolia Oil & Gas by 10.1% during the 3rd quarter. Principal Financial Group Inc. now owns 2,015,960 shares of the company’s stock worth $49,238,000 after acquiring an additional 184,793 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Insider Transactions at Magnolia Oil & Gas

In other news, Director Ltd. Enervest sold 7,000,000 shares of the stock in a transaction dated 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 completion of the transaction, the director now owns 2,099,403 shares in the company, valued at $54,290,561.58. This trade represents a 76.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.20% of the company’s stock.

Magnolia Oil & Gas Stock Performance

NYSE:MGY opened at $27.74 on Monday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.47 and a quick ratio of 1.47. The firm has a market cap of $5.45 billion, a price-to-earnings ratio of 13.73, a price-to-earnings-growth ratio of 1.41 and a beta of 1.99. The firm’s fifty day moving average price is $26.40 and its 200 day moving average price is $25.58. Magnolia Oil & Gas Co. has a 1-year low of $19.16 and a 1-year high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last issued its 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. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.78%. The business had revenue of $333.14 million for the quarter, compared to the consensus estimate of $331.45 million. On average, sell-side 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 announced 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 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Friday, November 8th. Magnolia Oil & Gas’s payout ratio is 25.74%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Siebert Williams Shank lowered Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a report on Tuesday, October 15th. Wells Fargo & Company downgraded Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $26.00 to $22.00 in a research note on Tuesday, October 1st. JPMorgan Chase & Co. cut their price target 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. Mizuho lowered their target price 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. Finally, Piper Sandler cut their target price on shares of Magnolia Oil & Gas from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Magnolia Oil & Gas currently has an average rating of “Hold” and a consensus price target of $27.67.

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.