Glenmede Trust Co. NA Purchases 7,384 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Glenmede Trust Co. NA boosted its holdings in Magnolia Oil & Gas Co. (NYSE:MGY) by 21.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 41,929 shares of the company’s stock after acquiring an additional 7,384 shares during the quarter. Glenmede Trust Co. NA’s holdings in Magnolia Oil & Gas were worth $1,024,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Townsquare Capital LLC acquired a new position in shares of Magnolia Oil & Gas during the third quarter valued at about $237,000. BNP Paribas Financial Markets boosted its stake in Magnolia Oil & Gas by 27.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 128,492 shares of the company’s stock valued at $3,138,000 after purchasing an additional 27,467 shares during the last quarter. FMR LLC increased its holdings in Magnolia Oil & Gas by 174.9% during the 3rd quarter. FMR LLC now owns 34,851 shares of the company’s stock worth $851,000 after purchasing an additional 22,171 shares in the last quarter. Quantbot Technologies LP raised its stake in shares of Magnolia Oil & Gas by 101.0% in the third quarter. Quantbot Technologies LP now owns 230,601 shares of the company’s stock worth $5,631,000 after purchasing an additional 115,894 shares during the last quarter. Finally, Truvestments Capital LLC bought a new position in shares of Magnolia Oil & Gas in the third quarter valued at approximately $90,000. Institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Trading Down 1.3 %

Shares of Magnolia Oil & Gas stock opened at $27.37 on Tuesday. 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 stock has a market capitalization of $5.38 billion, a P/E ratio of 13.55, a P/E/G ratio of 1.41 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. The stock’s 50-day simple moving average is $26.42 and its 200 day simple moving average is $25.59.

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

Magnolia Oil & Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.52 dividend on an annualized basis and a yield of 1.90%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 25.74%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. decreased 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. Mizuho lowered 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. Siebert Williams Shank cut shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price target on the stock. in a report on Tuesday, October 15th. Wells Fargo & Company lowered shares of Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $26.00 to $22.00 in a research note on Tuesday, October 1st. Finally, Piper Sandler cut their target price on Magnolia Oil & Gas from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Magnolia Oil & Gas has an average rating of “Hold” and an average target price of $27.67.

Insiders Place Their Bets

In other news, Director Ltd. Enervest sold 7,000,000 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $25.86, for a total value of $181,020,000.00. Following the sale, the director now directly 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.20% of the stock is owned by corporate insiders.

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.