Oppenheimer Asset Management Inc. Sells 444 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Oppenheimer Asset Management Inc. cut its position in Magnolia Oil & Gas Co. (NYSE:MGY) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,483 shares of the company’s stock after selling 444 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Magnolia Oil & Gas were worth $915,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of MGY. US Bancorp DE raised its position in Magnolia Oil & Gas by 348.7% in the first quarter. US Bancorp DE now owns 25,576 shares of the company’s stock valued at $664,000 after purchasing an additional 19,876 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in Magnolia Oil & Gas by 41.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 74,263 shares of the company’s stock valued at $1,927,000 after purchasing an additional 21,900 shares during the last quarter. Vanguard Group Inc. raised its position in 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 during the last quarter. Bessemer Group Inc. raised its position in Magnolia Oil & Gas by 7.2% in the first quarter. Bessemer Group Inc. now owns 628,409 shares of the company’s stock valued at $16,308,000 after purchasing an additional 42,154 shares during the last quarter. Finally, American International Group Inc. raised its position in shares of Magnolia Oil & Gas by 7.4% during the first quarter. American International Group Inc. now owns 95,817 shares of the company’s stock worth $2,486,000 after acquiring an additional 6,568 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MGY. Susquehanna lowered their price objective on 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. Benchmark restated a “hold” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, October 15th. Wells Fargo & Company downgraded Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $26.00 to $22.00 in a research report on Tuesday, October 1st. Mizuho lowered their price objective on 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. Finally, JPMorgan Chase & Co. lowered their price objective on 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. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have given 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.

Magnolia Oil & Gas Trading Up 2.2 %

Shares of Magnolia Oil & Gas stock opened at $27.45 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.47. Magnolia Oil & Gas Co. has a 52 week low of $19.16 and a 52 week high of $27.96. The stock has a 50 day moving average price of $25.69 and a two-hundred day moving average price of $25.43. The stock has a market capitalization of $5.40 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 1.37 and a beta of 1.99.

Magnolia Oil & Gas (NYSE:MGY) last announced 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 during the quarter, compared to analysts’ expectations of $331.45 million. As a group, equities analysts anticipate that Magnolia Oil & Gas Co. will post 1.99 earnings per share for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The company 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. The ex-dividend date is Friday, November 8th. This represents a $0.52 dividend on an annualized basis and a yield of 1.89%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 25.74%.

Insider Buying and Selling at Magnolia Oil & Gas

In related news, Director Ltd. Enervest sold 7,000,000 shares of Magnolia Oil & Gas stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $25.86, for a total transaction of $181,020,000.00. Following the transaction, the director now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.20% of the company’s stock.

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.