Isthmus Partners LLC Buys Shares of 8,860 Magnolia Oil & Gas Co. (NYSE:MGY)

Isthmus Partners LLC bought a new stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,860 shares of the company’s stock, valued at approximately $216,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MGY. Price T Rowe Associates Inc. MD increased its position in Magnolia Oil & Gas by 0.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 594,173 shares of the company’s stock valued at $15,419,000 after purchasing an additional 1,624 shares during the period. Tidal Investments LLC acquired a new stake in Magnolia Oil & Gas during the 1st quarter valued at approximately $566,000. Comerica Bank increased its position in Magnolia Oil & Gas by 38.8% during the 1st quarter. Comerica Bank now owns 172,569 shares of the company’s stock valued at $4,478,000 after purchasing an additional 48,228 shares during the period. GAMMA Investing LLC increased its position 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 during the period. Finally, Massmutual Trust Co. FSB ADV increased its position 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 during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.

Wall Street Analysts Forecast Growth

MGY has been the topic of a number of research reports. Susquehanna dropped their target price on shares of Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Benchmark reiterated a “hold” rating on shares of Magnolia Oil & Gas in a report on Tuesday, October 15th. Mizuho reduced their target price 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. Wells Fargo & Company downgraded Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $26.00 to $22.00 in a research note on Tuesday, October 1st. Finally, JPMorgan Chase & Co. reduced their price objective on 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. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $27.67.

Insider Transactions at Magnolia Oil & Gas

In other news, Director Ltd. Enervest sold 7,000,000 shares of Magnolia Oil & Gas stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $25.86, for a total transaction of $181,020,000.00. Following the sale, the director now directly owns 2,099,403 shares in the company, valued at $54,290,561.58. The trade was a 76.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.20% of the company’s stock.

Magnolia Oil & Gas Trading Up 0.2 %

NYSE MGY opened at $27.74 on Friday. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. The business has a fifty day simple moving average of $26.40 and a 200 day simple moving average of $25.58. Magnolia Oil & Gas Co. has a 12 month low of $19.16 and a 12 month high of $29.02. The firm has a market capitalization of $5.45 billion, a P/E ratio of 13.73, a PEG ratio of 1.41 and a beta of 1.99.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. The firm had revenue of $333.14 million for the quarter, compared to the consensus estimate of $331.45 million. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.78%. On average, analysts predict 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 will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Friday, November 8th. Magnolia Oil & Gas’s dividend payout ratio is 25.74%.

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.