Cambiar Investors LLC Trims Stock Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Cambiar Investors LLC lessened its stake in Magnolia Oil & Gas Co. (NYSE:MGY) by 0.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 622,730 shares of the company’s stock after selling 4,344 shares during the quarter. Cambiar Investors LLC’s holdings in Magnolia Oil & Gas were worth $15,207,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Magnolia Oil & Gas by 16.6% during the first quarter. Vanguard Group Inc. now owns 20,757,369 shares of the company’s stock valued at $538,654,000 after acquiring an additional 2,956,314 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Magnolia Oil & Gas by 9.9% during the 2nd quarter. American Century Companies Inc. now owns 9,389,368 shares of the company’s stock worth $237,927,000 after purchasing an additional 847,542 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Magnolia Oil & Gas by 16.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,520,725 shares of the company’s stock valued at $114,554,000 after purchasing an additional 627,933 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Magnolia Oil & Gas by 1.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,061,846 shares of the company’s stock valued at $74,770,000 after purchasing an additional 50,351 shares during the period. Finally, Boston Trust Walden Corp lifted its stake in shares of Magnolia Oil & Gas by 4.4% in the 3rd quarter. Boston Trust Walden Corp now owns 2,823,126 shares of the company’s stock valued at $68,941,000 after purchasing an additional 119,582 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Insider Activity at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, Director Ltd. Enervest sold 7,000,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $25.86, for a total value 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.20% of the stock is owned by corporate insiders.

Magnolia Oil & Gas Stock Performance

Shares of NYSE:MGY opened at $24.98 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.47 and a quick ratio of 1.28. Magnolia Oil & Gas Co. has a 1 year low of $19.16 and a 1 year high of $27.63. The firm has a market capitalization of $4.97 billion, a PE ratio of 12.37, a P/E/G ratio of 1.29 and a beta of 1.99. The business’s 50 day moving average price is $25.31 and its 200-day moving average price is $25.36.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Wednesday, October 30th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.04. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.78%. The company had revenue of $333.14 million for the quarter, compared to analysts’ expectations of $331.45 million. As a group, equities research analysts expect that Magnolia Oil & Gas Co. will post 1.99 earnings per share for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be paid a dividend of $0.13 per share. The ex-dividend date is Friday, November 8th. This represents a $0.52 annualized dividend and a yield of 2.08%. Magnolia Oil & Gas’s dividend payout ratio is presently 25.74%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Benchmark reaffirmed a “hold” rating on shares of Magnolia Oil & Gas in a report on Tuesday, October 15th. Truist Financial raised their target price on Magnolia Oil & Gas from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Friday. Mizuho reduced their price target on Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Piper Sandler dropped their price objective on Magnolia Oil & Gas from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. Finally, Wolfe Research started coverage on Magnolia Oil & Gas in a research report on Thursday, July 18th. They issued an “outperform” rating and a $32.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $27.67.

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.