Millennium Management LLC Buys 660,501 Shares of Magnolia Oil & Gas Corp (NYSE:MGY)

Millennium Management LLC raised its stake in Magnolia Oil & Gas Corp (NYSE:MGY) by 425.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 815,910 shares of the company’s stock after acquiring an additional 660,501 shares during the period. Millennium Management LLC owned about 0.31% of Magnolia Oil & Gas worth $9,056,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in MGY. Strs Ohio bought a new position in shares of Magnolia Oil & Gas during the second quarter valued at $312,000. Virginia Retirement Systems ET AL acquired a new stake in shares of Magnolia Oil & Gas during the 2nd quarter worth about $195,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Magnolia Oil & Gas during the 2nd quarter valued at about $71,000. Aperio Group LLC bought a new position in Magnolia Oil & Gas during the 2nd quarter valued at about $25,000. Finally, Amica Retiree Medical Trust boosted its position in Magnolia Oil & Gas by 5.0% in the second quarter. Amica Retiree Medical Trust now owns 60,641 shares of the company’s stock valued at $702,000 after buying an additional 2,877 shares in the last quarter. Hedge funds and other institutional investors own 68.56% of the company’s stock.

MGY has been the topic of several research analyst reports. Barclays began coverage on shares of Magnolia Oil & Gas in a research note on Friday, August 30th. They set an “overweight” rating and a $13.00 price objective on the stock. Zacks Investment Research upgraded shares of Magnolia Oil & Gas from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. KeyCorp began coverage on Magnolia Oil & Gas in a report on Wednesday, November 27th. They issued an “overweight” rating and a $14.00 target price on the stock. TheStreet upgraded Magnolia Oil & Gas from a “d” rating to a “b-” rating in a research report on Wednesday, October 30th. Finally, Citigroup increased their price target on Magnolia Oil & Gas from $11.50 to $12.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $15.50.

In other news, Director Michael G. Macdougall sold 50,000 shares of Magnolia Oil & Gas stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $11.42, for a total value of $571,000.00. Following the completion of the sale, the director now directly owns 21,961 shares of the company’s stock, valued at approximately $250,794.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael G. Macdougall sold 47,500 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $11.32, for a total value of $537,700.00. Following the sale, the director now owns 21,961 shares of the company’s stock, valued at approximately $248,598.52. The disclosure for this sale can be found here. Insiders have sold 496,826 shares of company stock worth $5,660,847 over the last three months. 7.90% of the stock is owned by insiders.

Shares of NYSE:MGY opened at $11.51 on Friday. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.14. The firm has a market cap of $2.98 billion, a P/E ratio of 22.63 and a beta of 1.28. Magnolia Oil & Gas Corp has a 12 month low of $9.27 and a 12 month high of $14.13. The company’s 50-day moving average price is $11.00 and its two-hundred day moving average price is $10.90.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Monday, November 4th. The company reported $0.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.04). Magnolia Oil & Gas had a return on equity of 2.81% and a net margin of 7.80%. The company had revenue of $244.80 million during the quarter, compared to the consensus estimate of $247.17 million. As a group, equities analysts predict that Magnolia Oil & Gas Corp will post 0.35 earnings per share for the current fiscal year.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corporation engages in the business of acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. The company has oil and natural gas properties located primarily in Karnes County and the Giddings Field in South Texas primarily comprising the Eagle Ford Shale and the Austin Chalk formation.

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Institutional Ownership by Quarter for Magnolia Oil & Gas (NYSE:MGY)

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