Boston Trust Walden Corp Boosts Stock Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Boston Trust Walden Corp raised its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 4.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,823,126 shares of the company’s stock after acquiring an additional 119,582 shares during the quarter. Boston Trust Walden Corp owned approximately 1.42% of Magnolia Oil & Gas worth $68,941,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Bank of Montreal Can boosted its holdings in shares of Magnolia Oil & Gas by 1.8% in the 2nd quarter. Bank of Montreal Can now owns 36,716 shares of the company’s stock valued at $931,000 after buying an additional 640 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Magnolia Oil & Gas by 6.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 14,364 shares of the company’s stock worth $351,000 after purchasing an additional 889 shares in the last quarter. Fulton Bank N.A. lifted its holdings in shares of Magnolia Oil & Gas by 10.3% in the 2nd quarter. Fulton Bank N.A. now owns 10,411 shares of the company’s stock valued at $264,000 after purchasing an additional 968 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its position in shares of Magnolia Oil & Gas by 1,753.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,038 shares of the company’s stock valued at $26,000 after purchasing an additional 982 shares during the period. Finally, GAMMA Investing LLC grew its stake in Magnolia Oil & Gas by 62.4% during the 3rd quarter. GAMMA Investing LLC now owns 2,609 shares of the company’s stock worth $64,000 after buying an additional 1,002 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Benchmark reiterated a “hold” rating on shares of Magnolia Oil & Gas in a research note on Tuesday, October 15th. Bank of America upped their price target on shares of Magnolia Oil & Gas from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Siebert Williams Shank downgraded shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a research report on Tuesday, October 15th. Piper Sandler reduced their target price on shares of Magnolia Oil & Gas from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday, August 15th. Finally, Susquehanna decreased their target price on shares of 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. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Magnolia Oil & Gas has an average rating of “Hold” and a consensus price target of $27.50.

Insider Buying and Selling

In other Magnolia Oil & Gas news, Director Ltd. Enervest sold 7,000,000 shares of the business’s stock in a transaction on 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 transaction, the director now directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.20% of the stock is owned by company insiders.

Magnolia Oil & Gas Price Performance

MGY stock traded up $0.15 on Friday, reaching $26.00. The company had a trading volume of 1,376,839 shares, compared to its average volume of 2,570,386. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.28 and a current ratio of 1.28. The company’s fifty day moving average is $25.27 and its 200 day moving average is $25.40. The company has a market cap of $5.27 billion, a P/E ratio of 12.94, a PEG ratio of 1.33 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 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. The firm had revenue of $336.73 million during the quarter, compared to analysts’ expectations of $340.72 million. Magnolia Oil & Gas had a return on equity of 21.18% and a net margin of 29.44%. On average, research analysts forecast that Magnolia Oil & Gas Co. will post 1.98 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.00%. The ex-dividend date was Friday, August 9th. Magnolia Oil & Gas’s payout ratio is 25.87%.

Magnolia Oil & Gas Company 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.