Magnolia Oil & Gas Co. (NYSE:MGY) Shares Sold by Chiron Investment Management LLC

Chiron Investment Management LLC cut its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 17.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,628 shares of the company’s stock after selling 1,595 shares during the quarter. Chiron Investment Management LLC’s holdings in Magnolia Oil & Gas were worth $186,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Oliver Luxxe Assets LLC boosted its stake in Magnolia Oil & Gas by 80.6% during the third quarter. Oliver Luxxe Assets LLC now owns 87,624 shares of the company’s stock worth $2,140,000 after buying an additional 39,098 shares during the period. Argent Capital Management LLC boosted its position 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 worth $738,000 after purchasing an additional 10,547 shares during the period. AMG National Trust Bank increased its holdings in Magnolia Oil & Gas by 13.7% in the 2nd quarter. AMG National Trust Bank now owns 65,508 shares of the company’s stock valued at $1,660,000 after purchasing an additional 7,879 shares during the last quarter. Ensign Peak Advisors Inc raised its position in Magnolia Oil & Gas by 5.6% in the second quarter. Ensign Peak Advisors Inc now owns 68,919 shares of the company’s stock valued at $1,746,000 after purchasing an additional 3,630 shares during the period. Finally, Intech Investment Management LLC acquired a new position in Magnolia Oil & Gas during the third quarter worth $1,252,000. 94.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on MGY shares. Susquehanna dropped their price objective on Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Wells Fargo & Company lowered shares of Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $26.00 to $22.00 in a research note on Tuesday, October 1st. Truist Financial raised their price objective on shares of Magnolia Oil & Gas from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. cut 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 note on Thursday, September 12th. Finally, Siebert Williams Shank lowered shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Magnolia Oil & Gas has a consensus rating of “Hold” and a consensus price target of $27.67.

Insider Activity

In other news, Director Ltd. Enervest sold 7,000,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $25.86, for a total value of $181,020,000.00. Following the completion of the sale, the director now directly owns 2,099,403 shares of the company’s stock, valued at approximately $54,290,561.58. The trade was a 76.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.40% of the company’s stock.

Magnolia Oil & Gas Price Performance

Magnolia Oil & Gas stock opened at $25.61 on Wednesday. The stock has a market cap of $5.03 billion, a P/E ratio of 12.68, a price-to-earnings-growth ratio of 1.31 and a beta of 1.99. The company has a fifty day simple moving average of $26.62 and a 200-day simple moving average of $25.64. 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.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. The business had revenue of $333.14 million for 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%. Equities analysts expect that Magnolia Oil & Gas Co. will post 1.99 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were given a dividend of $0.13 per share. The ex-dividend date was Friday, November 8th. This represents a $0.52 annualized dividend and a dividend yield of 2.03%. Magnolia Oil & Gas’s dividend payout ratio is presently 25.74%.

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.