Mutual of America Capital Management LLC Lowers Stock Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Mutual of America Capital Management LLC trimmed its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 4.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,300 shares of the company’s stock after selling 1,439 shares during the period. Mutual of America Capital Management LLC’s holdings in Magnolia Oil & Gas were worth $691,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. American Century Companies Inc. raised its holdings in shares of Magnolia Oil & Gas by 9.9% during the 2nd 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 period. Dimensional Fund Advisors LP grew its position in Magnolia Oil & Gas by 16.1% in the second quarter. Dimensional Fund Advisors LP now owns 4,520,725 shares of the company’s stock valued at $114,554,000 after acquiring an additional 627,933 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Magnolia Oil & Gas by 1.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,061,846 shares of the company’s stock valued at $74,770,000 after acquiring an additional 50,351 shares in the last quarter. Boston Trust Walden Corp raised its stake in shares of Magnolia Oil & Gas by 4.4% during the third quarter. Boston Trust Walden Corp now owns 2,823,126 shares of the company’s stock valued at $68,941,000 after purchasing an additional 119,582 shares during the period. Finally, Principal Financial Group Inc. lifted its position in shares of Magnolia Oil & Gas by 10.1% during the third quarter. Principal Financial Group Inc. now owns 2,015,960 shares of the company’s stock worth $49,238,000 after purchasing an additional 184,793 shares in the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Mizuho decreased their price objective on shares of Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. JPMorgan Chase & Co. reduced their price target on Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Siebert Williams Shank downgraded Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a report on Tuesday, October 15th. Benchmark reaffirmed a “hold” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, October 15th. Finally, Susquehanna decreased their price target on shares of Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, Magnolia Oil & Gas currently has an average rating of “Hold” and a consensus price target of $27.67.

Magnolia Oil & Gas Trading Down 0.9 %

Shares of MGY opened at $27.95 on Wednesday. The stock has a fifty day moving average price of $26.22 and a two-hundred day moving average price of $25.53. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.47. The company has a market cap of $5.49 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 1.46 and a beta of 1.99. Magnolia Oil & Gas Co. has a 52-week low of $19.16 and a 52-week high of $29.02.

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

Magnolia Oil & Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.52 annualized dividend and a yield of 1.86%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 25.74%.

Insider Transactions at Magnolia Oil & Gas

In other news, Director Ltd. Enervest sold 7,000,000 shares of the 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 completion of the sale, the director now owns 2,099,403 shares of the company’s stock, valued at $54,290,561.58. This represents a 76.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.20% of the company’s stock.

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.