Raymond James Trust N.A. Has $288,000 Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Raymond James Trust N.A. lessened its holdings in Magnolia Oil & Gas Co. (NYSE:MGY) by 15.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,796 shares of the company’s stock after selling 2,106 shares during the period. Raymond James Trust N.A.’s holdings in Magnolia Oil & Gas were worth $288,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MGY. Oliver Luxxe Assets LLC raised its holdings in shares of Magnolia Oil & Gas by 80.6% in 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 stake 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 lifted its holdings in shares of 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 acquiring an additional 48,228 shares during the period. Tidal Investments LLC acquired a new stake in shares of Magnolia Oil & Gas in the 1st quarter valued at $566,000. Finally, AMG National Trust Bank grew its holdings in shares of Magnolia Oil & Gas by 13.7% in 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 own 94.73% of the company’s stock.

Insiders Place Their Bets

In related news, Director Ltd. Enervest sold 7,000,000 shares of the 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 sale, the director now directly owns 2,099,403 shares in the company, valued at $54,290,561.58. This trade represents a 76.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.40% of the company’s stock.

Magnolia Oil & Gas Stock Down 1.0 %

Shares of NYSE:MGY opened at $27.68 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.47 and a quick ratio of 1.47. The stock has a market cap of $5.44 billion, a price-to-earnings ratio of 13.70, a P/E/G ratio of 1.43 and a beta of 1.99. The company has a 50 day moving average of $26.28 and a 200-day moving average of $25.54. Magnolia Oil & Gas Co. has a one year low of $19.16 and a one year high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last released its earnings results on Wednesday, October 30th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates 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%. On average, sell-side analysts forecast that Magnolia Oil & Gas Co. will post 1.99 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The business also recently announced 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 1.88%. The ex-dividend date of this dividend is Friday, November 8th. Magnolia Oil & Gas’s payout ratio is 25.74%.

Analyst Ratings Changes

Several equities analysts recently issued reports on MGY shares. Mizuho cut their price target on shares of Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Monday, September 16th. JPMorgan Chase & Co. reduced their target price on Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Siebert Williams Shank downgraded Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a research report on Tuesday, October 15th. Piper Sandler reduced their price objective on Magnolia Oil & Gas from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. Finally, Truist Financial raised their target price on Magnolia Oil & Gas from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average 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.