Townsquare Capital LLC Takes Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Townsquare Capital LLC purchased a new stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 9,702 shares of the company’s stock, valued at approximately $237,000.

Several other hedge funds also recently modified their holdings of the company. American Century Companies Inc. grew its holdings in shares of Magnolia Oil & Gas by 9.9% in the 2nd quarter. American Century Companies Inc. now owns 9,389,368 shares of the company’s stock worth $237,927,000 after acquiring an additional 847,542 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Magnolia Oil & Gas by 16.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,520,725 shares of the company’s stock worth $114,554,000 after acquiring an additional 627,933 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Magnolia Oil & Gas by 1.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,061,846 shares of the company’s stock worth $74,770,000 after acquiring an additional 50,351 shares during the last quarter. Boston Trust Walden Corp boosted its position in shares of Magnolia Oil & Gas by 4.4% in the third quarter. Boston Trust Walden Corp now owns 2,823,126 shares of the company’s stock worth $68,941,000 after buying an additional 119,582 shares during the period. Finally, Loomis Sayles & Co. L P boosted its position in shares of Magnolia Oil & Gas by 10.0% in the third quarter. Loomis Sayles & Co. L P now owns 2,782,550 shares of the company’s stock worth $67,950,000 after buying an additional 253,911 shares during the period. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Magnolia Oil & Gas Stock Down 3.7 %

Shares of MGY opened at $25.67 on Friday. The company has a market capitalization of $5.05 billion, a P/E ratio of 12.71, a PEG ratio of 1.40 and a beta of 1.99. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.47 and a quick ratio of 1.47. Magnolia Oil & Gas Co. has a one year low of $19.16 and a one year high of $29.02. The business’s 50 day simple moving average is $26.58 and its 200-day simple moving average is $25.62.

Magnolia Oil & Gas (NYSE:MGY) last announced its 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 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%. As a group, sell-side 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 disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.03%. The ex-dividend date was Friday, November 8th. Magnolia Oil & Gas’s dividend payout ratio is 25.74%.

Insiders Place Their Bets

In other Magnolia Oil & Gas news, Director Ltd. Enervest sold 7,000,000 shares of the company’s 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 in the company, valued at approximately $54,290,561.58. The trade was a 76.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

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

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.