AMG National Trust Bank Sells 5,027 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

AMG National Trust Bank lowered its stake in Magnolia Oil & Gas Co. (NYSE:MGY) by 7.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 60,481 shares of the company’s stock after selling 5,027 shares during the quarter. AMG National Trust Bank’s holdings in Magnolia Oil & Gas were worth $1,477,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Atria Investments Inc lifted its stake in Magnolia Oil & Gas by 2.3% in the 3rd quarter. Atria Investments Inc now owns 23,576 shares of the company’s stock worth $576,000 after purchasing an additional 523 shares in the last quarter. Bank of Montreal Can raised its position in shares of Magnolia Oil & Gas by 1.8% in the second quarter. Bank of Montreal Can now owns 36,716 shares of the company’s stock worth $931,000 after buying an additional 640 shares in the last quarter. Covestor Ltd boosted its stake in Magnolia Oil & Gas by 36.8% during the third quarter. Covestor Ltd now owns 2,986 shares of the company’s stock valued at $73,000 after buying an additional 804 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Magnolia Oil & Gas by 6.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 14,364 shares of the company’s stock worth $351,000 after buying an additional 889 shares in the last quarter. Finally, OneDigital Investment Advisors LLC increased its stake in Magnolia Oil & Gas by 6.5% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 15,304 shares of the company’s stock worth $374,000 after acquiring an additional 933 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Up 2.2 %

Shares of NYSE:MGY opened at $27.45 on Tuesday. The stock has a market capitalization of $5.40 billion, a P/E ratio of 13.59, a price-to-earnings-growth ratio of 1.37 and a beta of 1.99. The stock’s 50-day moving average price is $25.69 and its 200-day moving average price is $25.43. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas Co. has a 12-month low of $19.16 and a 12-month high of $27.96.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly 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. The business had revenue of $333.14 million for the quarter, compared to analyst estimates of $331.45 million. Magnolia Oil & Gas had a return on equity of 20.78% and a net margin of 28.88%. On average, equities analysts anticipate that Magnolia Oil & Gas Co. will post 1.99 earnings per share for the current year.

Magnolia Oil & Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Friday, November 8th. Magnolia Oil & Gas’s payout ratio is 25.74%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on MGY shares. Siebert Williams Shank downgraded Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a research report on Tuesday, October 15th. JPMorgan Chase & Co. cut their price target on shares of Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Bank of America increased their price target on shares of Magnolia Oil & Gas from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Susquehanna dropped their price objective on shares of Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Finally, Benchmark reissued a “hold” rating on shares of Magnolia Oil & Gas in a research note on Tuesday, October 15th. Two 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 MarketBeat, the company currently has an average rating of “Hold” and an average price target of $27.67.

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 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 sale, the director now 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. 1.40% of the stock is currently owned by company insiders.

Magnolia Oil & Gas 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.