Seven Grand Managers LLC Makes New $4.88 Million Investment in Magnolia Oil & Gas Co. (NYSE:MGY)

Seven Grand Managers LLC bought a new stake in Magnolia Oil & Gas Co. (NYSE:MGY) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 200,000 shares of the company’s stock, valued at approximately $4,884,000. Seven Grand Managers LLC owned about 0.10% of Magnolia Oil & Gas at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in MGY. Mather Group LLC. acquired a new position in Magnolia Oil & Gas in the 1st quarter valued at $27,000. Massmutual Trust Co. FSB ADV grew its stake in shares of Magnolia Oil & Gas by 1,753.6% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,038 shares of the company’s stock valued at $26,000 after acquiring an additional 982 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in Magnolia Oil & Gas during the second quarter worth about $26,000. GAMMA Investing LLC increased its position in Magnolia Oil & Gas by 184.4% during the second quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock worth $41,000 after acquiring an additional 1,042 shares during the period. Finally, Fidelis Capital Partners LLC acquired a new stake in Magnolia Oil & Gas in the 1st quarter worth about $50,000. Institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Up 3.1 %

MGY stock opened at $26.35 on Thursday. The firm has a 50-day moving average price of $25.09 and a 200-day moving average price of $25.42. Magnolia Oil & Gas Co. has a 12 month low of $19.16 and a 12 month high of $27.63. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $5.34 billion, a P/E ratio of 13.11, a price-to-earnings-growth ratio of 1.36 and a beta of 1.99.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. Magnolia Oil & Gas had a net margin of 29.44% and a return on equity of 21.18%. The business had revenue of $336.73 million during the quarter, compared to analysts’ expectations of $340.72 million. As a group, equities research analysts anticipate that Magnolia Oil & Gas Co. will post 1.99 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend was Friday, August 9th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 25.87%.

Insider Buying and Selling

In other Magnolia Oil & Gas news, Director Ltd. Enervest sold 7,000,000 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $25.86, for a total value of $181,020,000.00. Following the completion of the transaction, the director now directly owns 2,099,403 shares in the company, valued at approximately $54,290,561.58. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently commented on MGY. Wolfe Research began coverage on shares of Magnolia Oil & Gas in a report on Thursday, July 18th. They set an “outperform” rating and a $32.00 target price on the stock. Wells Fargo & Company lowered Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $26.00 to $22.00 in a research note on Tuesday, October 1st. JPMorgan Chase & Co. dropped their price objective on Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Truist Financial reduced their target price on Magnolia Oil & Gas from $35.00 to $31.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Finally, Mizuho dropped 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. Two investment 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.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $27.50.

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.