Fulton Bank N.A. Sells 541 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Fulton Bank N.A. reduced its stake in Magnolia Oil & Gas Co. (NYSE:MGY) by 5.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,443 shares of the company’s stock after selling 541 shares during the quarter. Fulton Bank N.A.’s holdings in Magnolia Oil & Gas were worth $245,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Rhumbline Advisers raised its holdings in Magnolia Oil & Gas by 1.0% during the third quarter. Rhumbline Advisers now owns 294,879 shares of the company’s stock valued at $6,756,000 after acquiring an additional 3,009 shares during the period. Envestnet Portfolio Solutions Inc. bought a new stake in Magnolia Oil & Gas during the third quarter valued at about $285,000. Envestnet Asset Management Inc. raised its holdings in Magnolia Oil & Gas by 59.7% during the third quarter. Envestnet Asset Management Inc. now owns 325,180 shares of the company’s stock valued at $7,450,000 after acquiring an additional 121,520 shares during the period. Clearbridge Investments LLC raised its holdings in Magnolia Oil & Gas by 6.3% during the third quarter. Clearbridge Investments LLC now owns 906,589 shares of the company’s stock valued at $20,770,000 after acquiring an additional 53,805 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Magnolia Oil & Gas by 304.1% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 91,700 shares of the company’s stock valued at $2,101,000 after acquiring an additional 69,007 shares during the period. 94.73% of the stock is owned by institutional investors.

Magnolia Oil & Gas Trading Down 0.4 %

Shares of Magnolia Oil & Gas stock opened at $24.86 on Friday. The firm has a market cap of $5.04 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 1.40 and a beta of 2.00. Magnolia Oil & Gas Co. has a twelve month low of $19.16 and a twelve month high of $27.33. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.21. The business has a 50-day moving average price of $25.28 and a 200-day moving average price of $23.35.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.05. Magnolia Oil & Gas had a return on equity of 20.41% and a net margin of 30.46%. The company had revenue of $319.42 million for the quarter, compared to analysts’ expectations of $308.21 million. Equities research analysts anticipate that Magnolia Oil & Gas Co. will post 2.25 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were paid a dividend of $0.13 per share. The ex-dividend date was Friday, May 10th. This represents a $0.52 annualized dividend and a yield of 2.09%. Magnolia Oil & Gas’s payout ratio is currently 25.87%.

Insiders Place Their Bets

In other Magnolia Oil & Gas news, Director John B. Walker sold 12,000,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $25.58, for a total transaction of $306,960,000.00. Following the sale, the director now directly owns 4,164,961 shares of the company’s stock, valued at $106,539,702.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on MGY shares. The Goldman Sachs Group raised their price target on Magnolia Oil & Gas from $24.50 to $28.00 and gave the company a “buy” rating in a report on Tuesday, March 26th. Piper Sandler reissued a “neutral” rating and set a $29.00 price target on shares of Magnolia Oil & Gas in a report on Friday, April 19th. Citigroup raised their price target on Magnolia Oil & Gas from $18.00 to $22.00 and gave the company a “sell” rating in a report on Monday, April 15th. Susquehanna raised their price objective on Magnolia Oil & Gas from $28.00 to $31.00 and gave the company a “positive” rating in a research report on Monday, April 22nd. Finally, Bank of America started coverage on Magnolia Oil & Gas in a research report on Tuesday, February 27th. They set a “buy” rating and a $25.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $28.11.

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.