Edgestream Partners L.P. Purchases Shares of 206,924 Magnolia Oil & Gas Co. (NYSE:MGY)

Edgestream Partners L.P. purchased 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 purchased 206,924 shares of the company’s stock, valued at approximately $5,053,000. Edgestream Partners L.P. owned approximately 0.11% of Magnolia Oil & Gas as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of MGY. Harbor Capital Advisors Inc. bought a new position in shares of Magnolia Oil & Gas in the third quarter valued at $25,000. First Horizon Advisors Inc. increased its holdings in shares of Magnolia Oil & Gas by 64.7% in the third quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock valued at $25,000 after buying an additional 396 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its holdings 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 buying an additional 982 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in shares of Magnolia Oil & Gas in the second quarter valued at $26,000. Finally, GAMMA Investing LLC increased its holdings in shares of Magnolia Oil & Gas by 184.4% in the second quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock valued at $41,000 after buying an additional 1,042 shares in the last quarter. Institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Price Performance

Shares of 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. Magnolia Oil & Gas Co. has a 1 year low of $19.16 and a 1 year high of $29.02. The business has a fifty day simple moving average of $26.40 and a 200 day simple moving average of $25.58. The firm has a market cap of $5.45 billion, a price-to-earnings ratio of 13.73, a P/E/G ratio of 1.41 and a beta of 1.99.

Magnolia Oil & Gas (NYSE:MGY) last posted its earnings results on Wednesday, October 30th. The company reported $0.52 EPS for the quarter, topping the consensus estimate 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%. As a group, sell-side analysts predict that Magnolia Oil & Gas Co. will post 1.99 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Friday, November 8th. Magnolia Oil & Gas’s payout ratio is 25.74%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Benchmark reissued a “hold” rating on shares of Magnolia Oil & Gas in a research note 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 report on Monday, September 16th. Susquehanna reduced their target price on Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Wells Fargo & Company lowered Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $26.00 to $22.00 in a report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. reduced their target price 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. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Magnolia Oil & Gas presently has an average rating of “Hold” and an average price target of $27.67.

Insiders Place Their Bets

In other Magnolia Oil & Gas news, Director Ltd. Enervest sold 7,000,000 shares of the stock in a transaction 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 transaction, the director now directly owns 2,099,403 shares of the company’s stock, valued at $54,290,561.58. This represents a 76.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.20% of the company’s stock.

Magnolia Oil & Gas 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.