Signaturefd LLC Sells 7,192 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Signaturefd LLC lessened its position in Magnolia Oil & Gas Co. (NYSE:MGY) by 64.7% during the third quarter, Holdings Channel reports. The fund owned 3,920 shares of the company’s stock after selling 7,192 shares during the period. Signaturefd LLC’s holdings in Magnolia Oil & Gas were worth $96,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Magnolia Oil & Gas by 16.6% during the first quarter. Vanguard Group Inc. now owns 20,757,369 shares of the company’s stock valued at $538,654,000 after buying an additional 2,956,314 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Magnolia Oil & Gas by 9.9% during the second quarter. American Century Companies Inc. now owns 9,389,368 shares of the company’s stock valued at $237,927,000 after buying an additional 847,542 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Magnolia Oil & Gas by 16.1% during the second quarter. Dimensional Fund Advisors LP now owns 4,520,725 shares of the company’s stock valued at $114,554,000 after buying an additional 627,933 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Magnolia Oil & Gas by 4.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,184,107 shares of the company’s stock valued at $82,628,000 after buying an additional 142,717 shares during the last quarter. Finally, Boston Trust Walden Corp grew its stake in shares of Magnolia Oil & Gas by 26.7% during the second quarter. Boston Trust Walden Corp now owns 2,703,544 shares of the company’s stock valued at $68,508,000 after buying an additional 568,998 shares during the last quarter. 94.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on MGY. Benchmark reiterated a “hold” rating on shares of Magnolia Oil & Gas in a report on Tuesday, October 15th. Susquehanna dropped their target price on shares of Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Mizuho dropped their target price on shares of Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Wells Fargo & Company lowered shares of Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $26.00 to $22.00 in a report on Tuesday, October 1st. Finally, Piper Sandler dropped their target price 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. Two 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’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $27.50.

Insider Activity at Magnolia Oil & Gas

In related news, Director Ltd. Enervest sold 7,000,000 shares of Magnolia Oil & Gas 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is owned by corporate insiders.

Magnolia Oil & Gas Stock Down 1.7 %

MGY opened at $25.57 on Tuesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.28 and a current ratio of 1.28. Magnolia Oil & Gas Co. has a fifty-two week low of $19.16 and a fifty-two week high of $27.63. The firm’s fifty day moving average is $25.27 and its 200 day moving average is $25.39. The stock has a market cap of $5.18 billion, a price-to-earnings ratio of 12.72, a price-to-earnings-growth ratio of 1.33 and a beta of 1.99.

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

About Magnolia Oil & Gas

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.