Diamond Hill Capital Management Inc. Purchases 5,536 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Diamond Hill Capital Management Inc. increased its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 1.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 565,939 shares of the company’s stock after acquiring an additional 5,536 shares during the quarter. Diamond Hill Capital Management Inc.’s holdings in Magnolia Oil & Gas were worth $13,820,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of MGY. Harbor Capital Advisors Inc. bought a new position in shares of Magnolia Oil & Gas during the 3rd quarter worth approximately $25,000. Massmutual Trust Co. FSB ADV increased its stake in 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 valued at $26,000 after purchasing an additional 982 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in Magnolia Oil & Gas during the 2nd quarter valued at approximately $26,000. GAMMA Investing LLC increased its stake in Magnolia Oil & Gas by 184.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock valued at $41,000 after purchasing an additional 1,042 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its stake 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 valued at $72,000 after purchasing an additional 1,090 shares in the last quarter. Institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Performance

NYSE:MGY opened at $27.53 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.47. The company has a fifty day moving average of $25.41 and a two-hundred day moving average of $25.38. The stock has a market capitalization of $5.41 billion, a PE ratio of 13.63, a P/E/G ratio of 1.39 and a beta of 1.99. Magnolia Oil & Gas Co. has a fifty-two week low of $19.16 and a fifty-two week high of $27.73.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. The company had revenue of $333.14 million during the quarter, compared to analysts’ expectations of $331.45 million. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.78%. As a group, research analysts forecast 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 announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date is Friday, November 8th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 25.74%.

Analyst Ratings Changes

A number of research analysts have issued reports on MGY shares. Bank of America upped their price target on shares of Magnolia Oil & Gas from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Siebert Williams Shank downgraded shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a report on Tuesday, October 15th. Piper Sandler dropped their price objective on shares of Magnolia Oil & Gas from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. Susquehanna dropped their price objective on shares of Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Finally, Wells Fargo & Company downgraded shares of Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $26.00 to $22.00 in a report on Tuesday, October 1st. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, Magnolia Oil & Gas has a consensus rating of “Hold” and an average price target of $27.67.

Insider Activity

In other news, Director Ltd. Enervest sold 7,000,000 shares of the stock in a transaction dated 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 completion of the sale, the director now directly owns 2,099,403 shares in the company, valued at $54,290,561.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.20% of the company’s stock.

Magnolia Oil & Gas Company 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.