Magnolia Oil & Gas Co. (NYSE:MGY) Shares Sold by Hunter Perkins Capital Management LLC

Hunter Perkins Capital Management LLC reduced its position in Magnolia Oil & Gas Co. (NYSE:MGY) by 15.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 377,870 shares of the company’s stock after selling 67,295 shares during the quarter. Magnolia Oil & Gas comprises approximately 1.9% of Hunter Perkins Capital Management LLC’s portfolio, making the stock its 20th biggest position. Hunter Perkins Capital Management LLC owned approximately 0.19% of Magnolia Oil & Gas worth $9,228,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of MGY. Kapitalo Investimentos Ltda purchased a new position in Magnolia Oil & Gas during the 3rd quarter worth $320,000. Foster Victor Wealth Advisors LLC increased its position in Magnolia Oil & Gas by 42.1% in the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 294,738 shares of the company’s stock valued at $7,781,000 after acquiring an additional 87,292 shares during the period. Creative Planning raised its stake in Magnolia Oil & Gas by 8.3% during the 3rd quarter. Creative Planning now owns 68,878 shares of the company’s stock valued at $1,682,000 after acquiring an additional 5,289 shares during the last quarter. Oliver Luxxe Assets LLC raised its stake in Magnolia Oil & Gas by 80.6% during the 3rd quarter. Oliver Luxxe Assets LLC now owns 87,624 shares of the company’s stock valued at $2,140,000 after acquiring an additional 39,098 shares during the last quarter. Finally, Exchange Traded Concepts LLC acquired a new stake in Magnolia Oil & Gas during the 3rd quarter worth approximately $846,000. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Magnolia Oil & Gas

In other Magnolia Oil & Gas 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 transaction of $181,020,000.00. Following the sale, the director now owns 2,099,403 shares in the company, valued at approximately $54,290,561.58. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.20% of the stock is owned by insiders.

Analyst Ratings Changes

MGY has been the topic of several analyst reports. Wells Fargo & Company downgraded shares of Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $26.00 to $22.00 in a report on Tuesday, October 1st. Siebert Williams Shank cut Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a research report on Tuesday. 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. Truist Financial dropped their price objective on Magnolia Oil & Gas from $35.00 to $31.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Finally, Susquehanna reduced their target price on Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Magnolia Oil & Gas currently has an average rating of “Hold” and a consensus price target of $27.50.

Magnolia Oil & Gas Stock Up 2.2 %

Magnolia Oil & Gas stock traded up $0.57 during midday trading on Wednesday, hitting $26.13. 256,019 shares of the stock were exchanged, compared to its average volume of 2,592,104. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.28 and a quick ratio of 1.28. The company has a 50 day moving average price of $25.05 and a two-hundred day moving average price of $25.42. The firm has a market cap of $5.30 billion, a P/E ratio of 12.72, a P/E/G ratio of 1.35 and a beta of 1.99. Magnolia Oil & Gas Co. has a 1 year low of $19.16 and a 1 year high of $27.63.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.05. The business had revenue of $336.73 million during the quarter, compared to the consensus estimate of $340.72 million. Magnolia Oil & Gas had a net margin of 29.44% and a return on equity of 21.18%. On average, sell-side analysts predict that Magnolia Oil & Gas Co. will post 1.99 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend was Friday, August 9th. Magnolia Oil & Gas’s payout ratio is 25.87%.

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.