Moody Aldrich Partners LLC Increases Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Moody Aldrich Partners LLC raised its holdings in Magnolia Oil & Gas Co. (NYSE:MGY) by 15.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 309,433 shares of the company’s stock after buying an additional 40,747 shares during the quarter. Magnolia Oil & Gas makes up approximately 1.4% of Moody Aldrich Partners LLC’s holdings, making the stock its 15th largest holding. Moody Aldrich Partners LLC owned 0.16% of Magnolia Oil & Gas worth $7,556,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its stake in Magnolia Oil & Gas by 1.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,061,846 shares of the company’s stock worth $74,770,000 after acquiring an additional 50,351 shares during the last quarter. Vest Financial LLC boosted its stake in shares of Magnolia Oil & Gas by 18.1% during the 3rd quarter. Vest Financial LLC now owns 1,094,432 shares of the company’s stock valued at $26,726,000 after buying an additional 168,003 shares during the last quarter. nVerses Capital LLC acquired a new position in Magnolia Oil & Gas during the 3rd quarter worth $383,000. Seven Grand Managers LLC bought a new stake in Magnolia Oil & Gas in the third quarter valued at about $4,884,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Magnolia Oil & Gas during the 3rd quarter valued at approximately $320,000. Institutional investors and hedge funds own 94.73% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on MGY. Piper Sandler decreased their price target on shares of Magnolia Oil & Gas from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday, August 15th. Wolfe Research assumed coverage on Magnolia Oil & Gas in a report on Thursday, July 18th. They set an “outperform” rating and a $32.00 target price for the company. Wells Fargo & Company cut 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 report on Tuesday, October 1st. Bank of America boosted their price objective on Magnolia Oil & Gas from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, Siebert Williams Shank lowered Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a research report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Magnolia Oil & Gas presently has a consensus rating of “Hold” and an average target price of $27.50.

Magnolia Oil & Gas Price Performance

Shares of Magnolia Oil & Gas stock traded up $0.05 during trading on Thursday, hitting $25.65. The stock had a trading volume of 328,933 shares, compared to its average volume of 2,569,655. Magnolia Oil & Gas Co. has a fifty-two week low of $19.16 and a fifty-two week high of $27.63. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.28 and a quick ratio of 1.28. The firm has a market cap of $5.11 billion, a P/E ratio of 12.54, a PEG ratio of 1.33 and a beta of 1.99. The business has a fifty day moving average of $25.24 and a two-hundred day moving average of $25.41.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Wednesday, July 31st. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.51 by $0.05. The business had revenue of $336.73 million during the quarter, compared to the consensus estimate of $340.72 million. Magnolia Oil & Gas had a return on equity of 21.18% and a net margin of 29.44%. On average, sell-side analysts expect that Magnolia Oil & Gas Co. will post 1.98 earnings per share for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.03%. The ex-dividend date was Friday, August 9th. Magnolia Oil & Gas’s payout ratio is 25.49%.

Insider Buying and Selling at Magnolia Oil & Gas

In other news, Director Ltd. Enervest sold 7,000,000 shares of Magnolia Oil & Gas stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $25.86, for a total transaction of $181,020,000.00. Following the transaction, the director now owns 2,099,403 shares in the company, valued at approximately $54,290,561.58. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company 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.