Aigen Investment Management LP Cuts Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Aigen Investment Management LP cut its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 28.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,802 shares of the company’s stock after selling 5,193 shares during the period. Aigen Investment Management LP’s holdings in Magnolia Oil & Gas were worth $313,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MGY. Vanguard Group Inc. grew its holdings in shares of Magnolia Oil & Gas by 16.6% in the first quarter. Vanguard Group Inc. now owns 20,757,369 shares of the company’s stock valued at $538,654,000 after purchasing an additional 2,956,314 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Magnolia Oil & Gas by 9.9% in the 2nd quarter. American Century Companies Inc. now owns 9,389,368 shares of the company’s stock worth $237,927,000 after buying an additional 847,542 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Magnolia Oil & Gas by 16.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,520,725 shares of the company’s stock worth $114,554,000 after buying an additional 627,933 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Magnolia Oil & Gas by 1.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,061,846 shares of the company’s stock valued at $74,770,000 after buying an additional 50,351 shares in the last quarter. Finally, Boston Trust Walden Corp lifted its holdings in shares of Magnolia Oil & Gas by 4.4% in the 3rd quarter. Boston Trust Walden Corp now owns 2,823,126 shares of the company’s stock valued at $68,941,000 after acquiring an additional 119,582 shares during the last quarter. 94.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on MGY shares. Mizuho reduced their price objective on 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. Bank of America increased their price target on Magnolia Oil & Gas from $28.00 to $29.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Siebert Williams Shank lowered shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a research note on Tuesday, October 15th. Wells Fargo & Company downgraded shares of 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 research note on Tuesday, October 1st. Finally, Truist Financial upped their price target on shares of Magnolia Oil & Gas from $31.00 to $33.00 and gave the company a “buy” rating in a report on Friday, November 1st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $27.67.

Insider Buying and Selling

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

Magnolia Oil & Gas Trading Down 1.5 %

Shares of NYSE:MGY opened at $26.84 on Friday. The company has a market capitalization of $5.28 billion, a PE ratio of 13.29, a P/E/G ratio of 1.38 and a beta of 1.99. 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 $27.96. The business’s fifty day simple moving average is $25.69 and its 200-day simple moving average is $25.42.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates 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, equities research 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 disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be given a $0.13 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.94%. Magnolia Oil & Gas’s 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.