Coldstream Capital Management Inc. Purchases 783 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Coldstream Capital Management Inc. grew its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 5.1% during the third quarter, HoldingsChannel.com reports. The firm owned 16,117 shares of the company’s stock after purchasing an additional 783 shares during the period. Coldstream Capital Management Inc.’s holdings in Magnolia Oil & Gas were worth $394,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Oliver Luxxe Assets LLC boosted 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 during the period. Argent Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 10,547 shares during the period. AMG National Trust Bank grew its stake in shares of Magnolia Oil & Gas by 13.7% in the second 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. Ensign Peak Advisors Inc increased its holdings in Magnolia Oil & Gas by 5.6% in the second quarter. Ensign Peak Advisors Inc now owns 68,919 shares of the company’s stock valued at $1,746,000 after purchasing an additional 3,630 shares during the period. Finally, Intech Investment Management LLC bought a new position in Magnolia Oil & Gas during the 3rd quarter worth $1,252,000. 94.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MGY has been the subject of several recent research reports. Wells Fargo & Company cut Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $26.00 to $22.00 in a research note on Tuesday, October 1st. Mizuho decreased their target price on shares of Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Truist Financial boosted their price target on shares of Magnolia Oil & Gas from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Susquehanna decreased their price objective on shares of Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating on the stock in a report 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 issued a buy rating to the company. According to data from MarketBeat.com, Magnolia Oil & Gas presently has a consensus rating of “Hold” and an average price target of $27.67.

Magnolia Oil & Gas Price Performance

Shares of NYSE MGY opened at $25.34 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 firm’s 50-day moving average price is $26.60 and its 200-day moving average price is $25.65. The firm has a market capitalization of $4.98 billion, a P/E ratio of 12.54, a P/E/G ratio of 1.29 and a beta of 1.99. Magnolia Oil & Gas Co. has a 1-year low of $19.16 and a 1-year high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.04. The business had revenue of $333.14 million for the quarter, compared to analyst estimates of $331.45 million. Magnolia Oil & Gas had a return on equity of 20.78% and a net margin of 28.88%. Equities research analysts anticipate that Magnolia Oil & Gas Co. will post 2 earnings per share for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.52 dividend on an annualized basis and a yield of 2.05%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 25.74%.

Insiders Place Their Bets

In other news, Director Ltd. Enervest sold 7,000,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now directly owns 2,099,403 shares of the company’s stock, valued at $54,290,561.58. The trade was a 76.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.20% of the company’s stock.

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.