Magnolia Oil & Gas Co. (NYSE:MGY) Shares Sold by Independence Bank of Kentucky

Independence Bank of Kentucky lessened its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 44.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,250 shares of the company’s stock after selling 5,050 shares during the period. Independence Bank of Kentucky’s holdings in Magnolia Oil & Gas were worth $146,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. State Street Corp increased its holdings in shares of Magnolia Oil & Gas by 4.2% in the 3rd quarter. State Street Corp now owns 10,700,257 shares of the company’s stock valued at $261,300,000 after purchasing an additional 435,326 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Magnolia Oil & Gas by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,107,769 shares of the company’s stock valued at $100,332,000 after acquiring an additional 116,431 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Magnolia Oil & Gas by 1.7% during the 3rd 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 in the last quarter. Systematic Financial Management LP grew its holdings in Magnolia Oil & Gas by 7.5% in the third quarter. Systematic Financial Management LP now owns 2,920,018 shares of the company’s stock valued at $71,307,000 after purchasing an additional 203,514 shares during the last quarter. Finally, Boston Trust Walden Corp raised its stake in shares of Magnolia Oil & Gas by 4.4% during the 3rd quarter. Boston Trust Walden Corp now owns 2,823,126 shares of the company’s stock worth $68,941,000 after buying an additional 119,582 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Performance

Shares of MGY stock opened at $23.71 on Monday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.47. The firm has a market capitalization of $4.66 billion, a price-to-earnings ratio of 11.74, a price-to-earnings-growth ratio of 3.12 and a beta of 2.00. Magnolia Oil & Gas Co. has a one year low of $19.53 and a one year high of $29.02. The company has a 50 day moving average price of $25.15 and a 200 day moving average price of $25.46.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on MGY shares. Truist Financial raised their target price on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “buy” rating in a report on Monday, January 13th. Johnson Rice downgraded Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Siebert Williams Shank downgraded Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a research report on Tuesday, October 15th. Benchmark restated a “hold” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, October 15th. Finally, Piper Sandler lifted their price objective on Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $27.58.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corp. engages in the acquisition, development, exploration, and production of oil and natural gas properties. It operates assets located in the Eagle Ford Shale and Austin Chalk formations in South Texas. The company was founded on February 14, 2017 and is headquartered in Houston, TX.