Centiva Capital LP Acquires 430,996 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Centiva Capital LP lifted its holdings in Magnolia Oil & Gas Co. (NYSE:MGY) by 767.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 487,148 shares of the company’s stock after purchasing an additional 430,996 shares during the quarter. Magnolia Oil & Gas accounts for approximately 0.2% of Centiva Capital LP’s investment portfolio, making the stock its 22nd biggest holding. Centiva Capital LP owned 0.25% of Magnolia Oil & Gas worth $11,896,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Oliver Luxxe Assets LLC lifted its position in Magnolia Oil & Gas by 80.6% during the 3rd quarter. Oliver Luxxe Assets LLC now owns 87,624 shares of the company’s stock worth $2,140,000 after buying an additional 39,098 shares in the last quarter. Argent Capital Management LLC raised its holdings in Magnolia Oil & Gas by 56.8% during the second quarter. Argent Capital Management LLC now owns 29,111 shares of the company’s stock worth $738,000 after acquiring an additional 10,547 shares in the last quarter. Comerica Bank boosted its position in Magnolia Oil & Gas by 38.8% during the first 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 last quarter. Tidal Investments LLC bought a new position in Magnolia Oil & Gas in the first quarter valued at approximately $566,000. Finally, AMG National Trust Bank increased its position in shares of Magnolia Oil & Gas by 13.7% during the 2nd quarter. AMG National Trust Bank now owns 65,508 shares of the company’s stock worth $1,660,000 after purchasing an additional 7,879 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Insider Buying and Selling at Magnolia Oil & Gas

In other news, Director Ltd. Enervest sold 7,000,000 shares of Magnolia Oil & Gas stock in a transaction that occurred on 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 approximately $54,290,561.58. The trade was a 76.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.20% of the company’s stock.

Magnolia Oil & Gas Price Performance

Magnolia Oil & Gas stock opened at $27.74 on Monday. The company has a market capitalization of $5.45 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 1.41 and a beta of 1.99. The stock’s 50 day moving average is $26.40 and its 200-day moving average is $25.58. 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 12 month low of $19.16 and a 12 month high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. Magnolia Oil & Gas had a return on equity of 20.78% and a net margin of 28.88%. The firm had revenue of $333.14 million for the quarter, compared to analyst estimates of $331.45 million. Equities research analysts expect that Magnolia Oil & Gas Co. will post 1.99 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be paid a $0.13 dividend. 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 dividend payout ratio (DPR) is 25.74%.

Analyst Ratings Changes

Several equities research analysts have recently commented on MGY shares. 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 note on Thursday, August 15th. JPMorgan Chase & Co. decreased 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 research report on Thursday, September 12th. Truist Financial boosted their price objective on shares of Magnolia Oil & Gas from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Wells Fargo & Company downgraded shares of Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $26.00 to $22.00 in a research note on Tuesday, October 1st. Finally, Siebert Williams Shank downgraded Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price target on the stock. in a research report 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, the company currently has a consensus rating of “Hold” and a consensus target price of $27.67.

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.