Advisors Asset Management Inc. Purchases 4,041 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Advisors Asset Management Inc. increased its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 196.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,096 shares of the company’s stock after acquiring an additional 4,041 shares during the quarter. Advisors Asset Management Inc.’s holdings in Magnolia Oil & Gas were worth $149,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MGY. Harbor Capital Advisors Inc. purchased a new position in Magnolia Oil & Gas in the third quarter worth $25,000. Massmutual Trust Co. FSB ADV boosted its position in shares of Magnolia Oil & Gas by 1,753.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,038 shares of the company’s stock worth $26,000 after purchasing an additional 982 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of Magnolia Oil & Gas in the 2nd quarter worth $26,000. GAMMA Investing LLC grew its stake in Magnolia Oil & Gas by 184.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock worth $41,000 after buying an additional 1,042 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in Magnolia Oil & Gas by 61.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,850 shares of the company’s stock valued at $72,000 after buying an additional 1,090 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Price Performance

Shares of MGY opened at $27.74 on Friday. The business’s 50-day moving average is $26.40 and its two-hundred day moving average is $25.58. The company has a market capitalization of $5.45 billion, a P/E ratio of 13.73, a P/E/G ratio of 1.41 and a beta of 1.99. Magnolia Oil & Gas Co. has a fifty-two week low of $19.16 and a fifty-two week high of $29.02. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.47.

Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results on Wednesday, October 30th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. Magnolia Oil & Gas had a return on equity of 20.78% and a net margin of 28.88%. The firm had revenue of $333.14 million for the quarter, compared to the consensus estimate of $331.45 million. Research analysts predict that Magnolia Oil & Gas Co. will post 1.99 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Friday, November 8th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 25.74%.

Insider Activity at Magnolia Oil & Gas

In related news, Director Ltd. Enervest sold 7,000,000 shares of the firm’s stock in a transaction 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 sale, the director now owns 2,099,403 shares in the company, valued at approximately $54,290,561.58. This trade represents a 76.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on MGY shares. Wells Fargo & Company downgraded Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $26.00 to $22.00 in a report on Tuesday, October 1st. JPMorgan Chase & Co. dropped their target price on shares of 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. Susquehanna cut their price target on shares of Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Truist Financial lifted their price objective on shares of Magnolia Oil & Gas from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Piper Sandler cut their target price on Magnolia Oil & Gas from $29.00 to $26.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Magnolia Oil & Gas has a consensus rating of “Hold” and a consensus price target of $27.67.

Magnolia Oil & Gas Company 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.