Pathstone Holdings LLC Grows Stock Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Pathstone Holdings LLC lifted its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 17.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 197,289 shares of the company’s stock after acquiring an additional 28,677 shares during the quarter. Pathstone Holdings LLC’s holdings in Magnolia Oil & Gas were worth $4,818,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in MGY. Vanguard Group Inc. grew its stake in Magnolia Oil & Gas by 16.6% in the 1st 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 in the last quarter. Oliver Luxxe Assets LLC grew its position in shares of Magnolia Oil & Gas by 80.6% in the third quarter. Oliver Luxxe Assets LLC now owns 87,624 shares of the company’s stock valued at $2,140,000 after purchasing an additional 39,098 shares in the last quarter. Argent Capital Management LLC raised its stake in shares of Magnolia Oil & Gas by 56.8% during the 2nd quarter. Argent Capital Management LLC now owns 29,111 shares of the company’s stock valued at $738,000 after purchasing an additional 10,547 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in Magnolia Oil & Gas by 740.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 157,757 shares of the company’s stock worth $4,092,000 after purchasing an additional 138,982 shares in the last quarter. Finally, Comerica Bank boosted its stake in Magnolia Oil & Gas by 38.8% in the 1st quarter. Comerica Bank now owns 172,569 shares of the company’s stock worth $4,478,000 after purchasing an additional 48,228 shares during the period. Institutional investors own 94.73% of the company’s stock.

Insider Buying and Selling at Magnolia Oil & Gas

In other news, Director Ltd. Enervest sold 7,000,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $25.86, for a total transaction of $181,020,000.00. Following the completion of the sale, the director now owns 2,099,403 shares of the company’s stock, valued at approximately $54,290,561.58. This represents a 76.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.20% of the company’s stock.

Magnolia Oil & Gas Price Performance

Shares of Magnolia Oil & Gas stock opened at $28.79 on Friday. The firm has a market capitalization of $5.66 billion, a PE ratio of 14.24, a price-to-earnings-growth ratio of 1.44 and a beta of 1.99. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas Co. has a 12 month low of $19.16 and a 12 month high of $29.02. The business’s 50-day moving average price is $26.14 and its 200-day moving average price is $25.52.

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

Magnolia Oil & Gas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.81%. The ex-dividend date is Friday, November 8th. Magnolia Oil & Gas’s dividend payout ratio is presently 25.74%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MGY. Truist Financial increased their price target on shares of Magnolia Oil & Gas from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Susquehanna lowered their target price 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. Siebert Williams Shank lowered shares of 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. Wells Fargo & Company downgraded Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $26.00 to $22.00 in a research report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. reduced their target price on Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, Magnolia Oil & Gas has a consensus rating of “Hold” and a consensus price target of $27.67.

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.