Magnolia Oil & Gas Co. (NYSE:MGY) Stake Boosted by Massmutual Trust Co. FSB ADV

Massmutual Trust Co. FSB ADV raised its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 1,753.6% in the 2nd quarter, Holdings Channel reports. The firm owned 1,038 shares of the company’s stock after purchasing an additional 982 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Magnolia Oil & Gas were worth $26,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Magnolia Oil & Gas by 16.6% during the 1st quarter. Vanguard Group Inc. now owns 20,757,369 shares of the company’s stock valued at $538,654,000 after buying an additional 2,956,314 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Magnolia Oil & Gas by 20.2% during the fourth quarter. First Trust Advisors LP now owns 10,126,891 shares of the company’s stock valued at $215,602,000 after purchasing an additional 1,704,982 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Magnolia Oil & Gas by 2.1% during the fourth quarter. Victory Capital Management Inc. now owns 6,162,526 shares of the company’s stock valued at $131,200,000 after purchasing an additional 128,097 shares during the last quarter. Wasatch Advisors LP raised its position in shares of Magnolia Oil & Gas by 2.2% during the 4th quarter. Wasatch Advisors LP now owns 3,679,262 shares of the company’s stock worth $78,331,000 after purchasing an additional 77,733 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Magnolia Oil & Gas by 7.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,506,042 shares of the company’s stock worth $74,647,000 after purchasing an additional 257,806 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on MGY shares. Wolfe Research initiated coverage on Magnolia Oil & Gas in a research note on Thursday, July 18th. They set an “outperform” rating and a $32.00 price objective for the company. Piper Sandler reaffirmed a “neutral” rating and issued a $29.00 price objective on shares of Magnolia Oil & Gas in a report on Friday, April 19th. Truist Financial lifted their price objective on shares of Magnolia Oil & Gas from $34.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Benchmark reaffirmed a “hold” rating on shares of Magnolia Oil & Gas in a report on Thursday, July 18th. Finally, Citigroup boosted their price objective on Magnolia Oil & Gas from $18.00 to $22.00 and gave the stock a “sell” rating in a research report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $29.00.

Magnolia Oil & Gas Stock Performance

Shares of Magnolia Oil & Gas stock opened at $23.53 on Wednesday. The business has a fifty day simple moving average of $25.41 and a 200-day simple moving average of $24.48. The firm has a market cap of $4.77 billion, a price-to-earnings ratio of 11.70, a price-to-earnings-growth ratio of 0.90 and a beta of 2.02. Magnolia Oil & Gas Co. has a fifty-two week low of $19.16 and a fifty-two week high of $27.63. The company has a quick ratio of 1.71, a current ratio of 1.28 and a debt-to-equity ratio of 0.21.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.05. The company had revenue of $319.42 million during the quarter, compared to the consensus estimate of $308.21 million. Magnolia Oil & Gas had a net margin of 29.44% and a return on equity of 21.18%. On average, equities analysts forecast that Magnolia Oil & Gas Co. will post 2.22 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be given a $0.13 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $0.52 annualized dividend and a yield of 2.21%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 25.87%.

Insider Buying and Selling at Magnolia Oil & Gas

In related news, Director John B. Walker sold 12,000,000 shares of Magnolia Oil & Gas stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $25.58, for a total value of $306,960,000.00. Following the transaction, the director now directly owns 4,164,961 shares in the company, valued at approximately $106,539,702.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.20% of the stock is owned by corporate insiders.

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.