Magnolia Oil & Gas Co. (NYSE:MGY) Shares Purchased by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P boosted its holdings in Magnolia Oil & Gas Co. (NYSE:MGY) by 10.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,782,550 shares of the company’s stock after buying an additional 253,911 shares during the period. Loomis Sayles & Co. L P owned 1.42% of Magnolia Oil & Gas worth $67,950,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. acquired a new stake in shares of Magnolia Oil & Gas in the third quarter worth approximately $25,000. First Horizon Advisors Inc. raised its stake in Magnolia Oil & Gas by 64.7% during the third quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock worth $25,000 after purchasing an additional 396 shares during the period. Massmutual Trust Co. FSB ADV boosted its holdings 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 last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of Magnolia Oil & Gas during the 2nd quarter valued at $26,000. Finally, GAMMA Investing LLC grew its stake in shares of Magnolia Oil & Gas by 184.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock valued at $41,000 after buying an additional 1,042 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MGY. Wells Fargo & Company cut Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $26.00 to $22.00 in a report on Tuesday, October 1st. 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 report on Thursday, September 12th. Siebert Williams Shank downgraded shares of 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. Truist Financial lifted their price target on shares of Magnolia Oil & Gas from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Piper Sandler dropped their price objective on shares of 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 research 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. According to data from MarketBeat, Magnolia Oil & Gas presently has a consensus rating of “Hold” and a consensus price target of $27.67.

Insider Buying and Selling

In other Magnolia Oil & Gas news, Director Ltd. Enervest sold 7,000,000 shares of the firm’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 transaction, the director now directly owns 2,099,403 shares of the company’s stock, valued at $54,290,561.58. This trade represents a 76.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.40% of the company’s stock.

Magnolia Oil & Gas Stock Performance

Shares of MGY stock opened at $28.79 on Monday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.47 and a quick ratio of 1.47. The company’s fifty day moving average price is $26.14 and its two-hundred day moving average price is $25.51. The firm has a market capitalization of $5.66 billion, a P/E ratio of 14.25, a P/E/G ratio of 1.46 and a beta of 1.99. Magnolia Oil & Gas Co. has a 12 month low of $19.16 and a 12 month high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly 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. Magnolia Oil & Gas had a return on equity of 20.78% and a net margin of 28.88%. The business had revenue of $333.14 million for the quarter, compared to analysts’ expectations of $331.45 million. On average, research analysts anticipate 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 declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend is Friday, November 8th. Magnolia Oil & Gas’s payout ratio is currently 25.74%.

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.