SG Americas Securities LLC Sells 3,016 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

SG Americas Securities LLC trimmed its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGYGet Rating) by 14.2% during the first quarter, HoldingsChannel.com reports. The firm owned 18,183 shares of the company’s stock after selling 3,016 shares during the quarter. SG Americas Securities LLC’s holdings in Magnolia Oil & Gas were worth $430,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Affinity Investment Advisors LLC raised its stake in shares of Magnolia Oil & Gas by 2.2% during the 4th quarter. Affinity Investment Advisors LLC now owns 50,330 shares of the company’s stock valued at $950,000 after purchasing an additional 1,090 shares during the period. M&T Bank Corp increased its stake in Magnolia Oil & Gas by 8.4% in the 4th quarter. M&T Bank Corp now owns 16,012 shares of the company’s stock worth $302,000 after acquiring an additional 1,242 shares during the last quarter. FCF Advisors LLC increased its stake in Magnolia Oil & Gas by 2.7% in the 1st quarter. FCF Advisors LLC now owns 68,060 shares of the company’s stock worth $1,610,000 after acquiring an additional 1,782 shares during the last quarter. Newbridge Financial Services Group Inc. increased its stake in Magnolia Oil & Gas by 1,748.0% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 2,310 shares of the company’s stock worth $55,000 after acquiring an additional 2,185 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in Magnolia Oil & Gas by 93.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,840 shares of the company’s stock worth $105,000 after acquiring an additional 2,340 shares during the last quarter. 96.86% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MGY has been the topic of a number of research analyst reports. Susquehanna Bancshares upped their target price on Magnolia Oil & Gas from $24.00 to $29.00 and gave the stock a “positive” rating in a research note on Monday, April 25th. KeyCorp upped their target price on Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday, April 14th. Wells Fargo & Company upped their target price on Magnolia Oil & Gas from $29.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Monday, July 11th. Susquehanna upped their price objective on Magnolia Oil & Gas from $24.00 to $29.00 and gave the stock a “positive” rating in a report on Monday, April 25th. Finally, Truist Financial upped their price objective on Magnolia Oil & Gas from $35.00 to $39.00 and gave the stock a “buy” rating in a report on Tuesday, July 19th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $28.56.

Magnolia Oil & Gas Trading Up 1.7 %

Shares of MGY stock opened at $22.17 on Friday. The stock has a market capitalization of $4.94 billion, a PE ratio of 5.98 and a beta of 2.13. Magnolia Oil & Gas Co. has a 1-year low of $12.79 and a 1-year high of $30.31. The business has a 50-day moving average of $23.49 and a 200 day moving average of $23.35. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.22 and a quick ratio of 2.22.

Magnolia Oil & Gas (NYSE:MGYGet Rating) last issued its earnings results on Monday, May 9th. The company reported $0.90 earnings per share for the quarter, meeting the consensus estimate of $0.90. The company had revenue of $377.84 million during the quarter, compared to analysts’ expectations of $374.63 million. Magnolia Oil & Gas had a return on equity of 67.32% and a net margin of 46.42%. Magnolia Oil & Gas’s quarterly revenue was up 80.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.38 EPS. As a group, sell-side analysts anticipate that Magnolia Oil & Gas Co. will post 4.51 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Friday, August 12th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Thursday, August 11th. Magnolia Oil & Gas’s payout ratio is 10.78%.

Insider Buying and Selling at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, Director Ltd. Enervest sold 7,500,000 shares of the company’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $27.01, for a total transaction of $202,575,000.00. Following the completion of the transaction, the director now owns 10,912,450 shares of the company’s stock, valued at approximately $294,745,274.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 4.80% of the stock is currently owned by corporate insiders.

Magnolia Oil & Gas Company Profile

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Magnolia Oil & Gas Corporation 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 Field in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.

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Want to see what other hedge funds are holding MGY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Magnolia Oil & Gas Co. (NYSE:MGYGet Rating).

Institutional Ownership by Quarter for Magnolia Oil & Gas (NYSE:MGY)

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