Wedge Capital Management L L P NC Has $2.52 Million Stake in Magnolia Oil & Gas Co. (NYSE:MGY)

Wedge Capital Management L L P NC lessened its position in Magnolia Oil & Gas Co. (NYSE:MGY) by 19.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,354 shares of the company’s stock after selling 24,317 shares during the period. Wedge Capital Management L L P NC owned 0.05% of Magnolia Oil & Gas worth $2,524,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of MGY. Bank of Montreal Can grew its holdings in shares of Magnolia Oil & Gas by 1.8% during the second quarter. Bank of Montreal Can now owns 36,716 shares of the company’s stock worth $931,000 after purchasing an additional 640 shares during the last quarter. Fulton Bank N.A. grew its holdings in Magnolia Oil & Gas by 10.3% during the 2nd quarter. Fulton Bank N.A. now owns 10,411 shares of the company’s stock worth $264,000 after acquiring an additional 968 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in Magnolia Oil & Gas by 1,753.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,038 shares of the company’s stock worth $26,000 after acquiring an additional 982 shares during the last quarter. GAMMA Investing LLC increased its position in Magnolia Oil & Gas by 62.4% in the 3rd quarter. GAMMA Investing LLC now owns 2,609 shares of the company’s stock valued at $64,000 after acquiring an additional 1,002 shares during the period. Finally, Mather Group LLC. bought a new position in shares of Magnolia Oil & Gas during the first quarter valued at $27,000. 94.73% of the stock is currently owned by institutional investors.

Magnolia Oil & Gas Stock Down 4.4 %

Magnolia Oil & Gas stock opened at $25.56 on Wednesday. The company has a market capitalization of $5.18 billion, a PE ratio of 12.72, a PEG ratio of 1.35 and a beta of 1.99. Magnolia Oil & Gas Co. has a 12-month low of $19.16 and a 12-month high of $27.63. The firm’s fifty day moving average is $25.05 and its 200 day moving average is $25.42. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.21.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.05. The firm had revenue of $336.73 million for the quarter, compared to analyst estimates of $340.72 million. Magnolia Oil & Gas had a net margin of 29.44% and a return on equity of 21.18%. 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 declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a $0.13 dividend. The ex-dividend date was Friday, August 9th. This represents a $0.52 annualized dividend and a yield of 2.03%. Magnolia Oil & Gas’s payout ratio is currently 25.87%.

Insider Buying and Selling at Magnolia Oil & Gas

In other news, Director Ltd. Enervest sold 7,000,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now directly owns 2,099,403 shares of the company’s stock, valued at $54,290,561.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on MGY. Benchmark reissued a “hold” rating on shares of Magnolia Oil & Gas in a research note on Tuesday. Truist Financial decreased their price target on Magnolia Oil & Gas from $35.00 to $31.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Siebert Williams Shank lowered Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a research note on Tuesday. 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 report on Wednesday, September 4th. Finally, Mizuho lowered their price target on shares of Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $27.50.

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.