Captrust Financial Advisors Acquires 4,156 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Captrust Financial Advisors lifted its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 9.3% during the 3rd quarter, Holdings Channel reports. The firm owned 48,731 shares of the company’s stock after purchasing an additional 4,156 shares during the quarter. Captrust Financial Advisors’ holdings in Magnolia Oil & Gas were worth $1,190,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in MGY. American Century Companies Inc. grew its position in shares of Magnolia Oil & Gas by 9.9% during the 2nd quarter. American Century Companies Inc. now owns 9,389,368 shares of the company’s stock worth $237,927,000 after buying an additional 847,542 shares during the period. Dimensional Fund Advisors LP grew its holdings in Magnolia Oil & Gas by 16.1% in the second 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. bought a new stake in Magnolia Oil & Gas in the second quarter valued at $15,106,000. Boston Trust Walden Corp increased its stake in Magnolia Oil & Gas by 26.7% in the second quarter. Boston Trust Walden Corp now owns 2,703,544 shares of the company’s stock valued at $68,508,000 after purchasing an additional 568,998 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. acquired a new position in shares of Magnolia Oil & Gas during the second quarter valued at about $14,201,000. Institutional investors and hedge funds own 94.73% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MGY. Wells Fargo & Company downgraded Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $26.00 to $22.00 in a research note on Tuesday, October 1st. JPMorgan Chase & Co. decreased their price objective on Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Siebert Williams Shank cut Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a report on Tuesday, October 15th. Susquehanna decreased their price target on shares of Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Finally, Truist Financial raised their price objective on shares of Magnolia Oil & Gas from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Two 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. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $27.67.

Magnolia Oil & Gas Price Performance

Magnolia Oil & Gas stock opened at $25.67 on Monday. Magnolia Oil & Gas Co. has a 52 week low of $19.16 and a 52 week high of $29.02. The company’s 50 day moving average price is $26.58 and its two-hundred day moving average price is $25.63. The stock has a market cap of $5.05 billion, a P/E ratio of 12.71, a P/E/G ratio of 1.35 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 (NYSE:MGY) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.04. The business had revenue of $333.14 million for the quarter, compared to analysts’ expectations of $331.45 million. Magnolia Oil & Gas had a return on equity of 20.78% and a net margin of 28.88%. On average, equities analysts predict that Magnolia Oil & Gas Co. will post 1.99 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

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

Insider Activity

In related news, Director Ltd. Enervest sold 7,000,000 shares of the business’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 completion of the transaction, the director now 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.20% of the company’s stock.

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.