F M Investments LLC Cuts Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

F M Investments LLC cut its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 1.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 455,714 shares of the company’s stock after selling 5,016 shares during the quarter. F M Investments LLC’s holdings in Magnolia Oil & Gas were worth $11,129,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV grew its holdings in shares of 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 purchasing an additional 982 shares during the period. Opal Wealth Advisors LLC acquired a new stake in shares of Magnolia Oil & Gas in the second quarter worth $26,000. GAMMA Investing LLC raised its stake in shares of Magnolia Oil & Gas by 184.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock valued at $41,000 after acquiring an additional 1,042 shares during the period. Fidelis Capital Partners LLC acquired a new position in shares of Magnolia Oil & Gas during the 1st quarter valued at $50,000. Finally, Nisa Investment Advisors LLC boosted its position in Magnolia Oil & Gas by 61.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,850 shares of the company’s stock worth $72,000 after purchasing an additional 1,090 shares during the period. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MGY has been the subject of a number of recent research reports. Siebert Williams Shank lowered Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 target price for the company. in a research note on Tuesday, October 15th. Mizuho decreased their price target on Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. JPMorgan Chase & Co. cut their price objective on Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Bank of America increased their target price on Magnolia Oil & Gas from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Finally, Benchmark reissued a “hold” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $27.67.

Magnolia Oil & Gas Price Performance

NYSE:MGY traded down $0.28 during mid-day trading on Friday, reaching $25.00. 1,773,159 shares of the stock were exchanged, compared to its average volume of 1,852,186. 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 $4.98 billion, a PE ratio of 12.37, a PEG ratio of 1.29 and a beta of 1.99. The business has a fifty day moving average price of $25.31 and a 200 day moving average price of $25.36. The company has a current ratio of 1.47, a quick ratio of 1.28 and a debt-to-equity ratio of 0.20.

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

Magnolia Oil & Gas Announces Dividend

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

Insider Buying and Selling

In related news, Director Ltd. Enervest sold 7,000,000 shares of the company’s stock in a transaction 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 approximately $54,290,561.58. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.20% of the company’s stock.

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.