Magnolia Oil & Gas Co. (NYSE:MGY) Shares Purchased by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P grew its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 10.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,782,550 shares of the company’s stock after purchasing an additional 253,911 shares during the period. Loomis Sayles & Co. L P’s holdings in Magnolia Oil & Gas were worth $67,950,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MGY. Oliver Luxxe Assets LLC lifted its holdings in shares of Magnolia Oil & Gas by 80.6% in the 3rd quarter. Oliver Luxxe Assets LLC now owns 87,624 shares of the company’s stock worth $2,140,000 after purchasing an additional 39,098 shares during the last quarter. Argent Capital Management LLC lifted its stake in Magnolia Oil & Gas by 56.8% in the second quarter. Argent Capital Management LLC now owns 29,111 shares of the company’s stock valued at $738,000 after buying an additional 10,547 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Magnolia Oil & Gas by 740.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 157,757 shares of the company’s stock valued at $4,092,000 after acquiring an additional 138,982 shares during the period. Comerica Bank increased its holdings in shares of Magnolia Oil & Gas by 38.8% in the 1st quarter. Comerica Bank now owns 172,569 shares of the company’s stock worth $4,478,000 after acquiring an additional 48,228 shares during the period. Finally, Tidal Investments LLC bought a new stake in Magnolia Oil & Gas in the 1st quarter valued at about $566,000. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Ltd. Enervest sold 7,000,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $25.86, for a total transaction of $181,020,000.00. Following the sale, the director now owns 2,099,403 shares in the company, valued at $54,290,561.58. The trade was a 76.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.40% of the company’s stock.

Magnolia Oil & Gas Trading Up 2.0 %

Shares of NYSE:MGY opened at $28.79 on Monday. 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 stock has a market capitalization of $5.66 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 1.46 and a beta of 1.99. Magnolia Oil & Gas Co. has a 1-year low of $19.16 and a 1-year high of $29.02. The company has a 50 day moving average price of $26.14 and a 200 day moving average price of $25.51.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.04. The business had revenue of $333.14 million during 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, research analysts anticipate that Magnolia Oil & Gas Co. will post 1.99 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The business also recently declared 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. The ex-dividend date is Friday, November 8th. This represents a $0.52 dividend on an annualized basis and a yield of 1.81%. Magnolia Oil & Gas’s dividend payout ratio is currently 25.74%.

Analyst Ratings Changes

Several research firms have commented on MGY. Piper Sandler decreased their target price on shares of Magnolia Oil & Gas from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. Wells Fargo & Company lowered Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $26.00 to $22.00 in a report on Tuesday, October 1st. JPMorgan Chase & Co. reduced their price objective on shares of Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Mizuho lowered their target price on shares of Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Finally, Siebert Williams Shank lowered shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a research note on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Magnolia Oil & Gas currently has an average rating of “Hold” and an average target price of $27.67.

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.