Centiva Capital LP Has $11.90 Million Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Centiva Capital LP boosted its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 767.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 487,148 shares of the company’s stock after buying an additional 430,996 shares during the period. Magnolia Oil & Gas makes up approximately 0.2% of Centiva Capital LP’s investment portfolio, making the stock its 22nd largest position. Centiva Capital LP’s holdings in Magnolia Oil & Gas were worth $11,896,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Harbor Capital Advisors Inc. bought a new position in Magnolia Oil & Gas in the third quarter valued at approximately $25,000. First Horizon Advisors Inc. increased its stake in shares of Magnolia Oil & Gas by 64.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock valued at $25,000 after purchasing an additional 396 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in shares of 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 worth $26,000 after buying an additional 982 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of Magnolia Oil & Gas during the 2nd quarter worth $26,000. Finally, GAMMA Investing LLC boosted its stake in 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. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Ltd. Enervest sold 7,000,000 shares of Magnolia Oil & Gas stock in a transaction 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 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 legal filing with the SEC, which is available through this link. 1.20% of the stock is owned by company insiders.

Magnolia Oil & Gas Trading Up 0.2 %

NYSE MGY opened at $27.74 on Monday. The firm has a market capitalization of $5.45 billion, a PE ratio of 13.73, a price-to-earnings-growth ratio of 1.41 and a beta of 1.99. The business’s 50-day moving average price is $26.40 and its two-hundred day moving average price 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 announced its earnings results on Wednesday, October 30th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.48 by $0.04. The business had revenue of $333.14 million for the quarter, compared to analysts’ expectations of $331.45 million. Magnolia Oil & Gas had a return on equity of 20.78% and a net margin of 28.88%. On average, analysts expect that Magnolia Oil & Gas Co. will post 1.99 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The firm also recently declared 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. The ex-dividend date is Friday, November 8th. This represents a $0.52 dividend on an annualized basis and a yield of 1.87%. Magnolia Oil & Gas’s payout ratio is currently 25.74%.

Analyst Ratings Changes

MGY has been the subject of several research analyst reports. Mizuho lowered 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. JPMorgan Chase & Co. lowered 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. Susquehanna cut 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 research note on Tuesday, October 15th. Finally, Piper Sandler cut their price objective on Magnolia Oil & Gas from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target 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.