PNC Financial Services Group Inc. Purchases 1,753 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

PNC Financial Services Group Inc. boosted its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 4.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,648 shares of the company’s stock after acquiring an additional 1,753 shares during the period. PNC Financial Services Group Inc.’s holdings in Magnolia Oil & Gas were worth $723,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its holdings in Magnolia Oil & Gas by 0.5% during the second quarter. Price T Rowe Associates Inc. MD now owns 18,591,190 shares of the company’s stock valued at $290,580,000 after purchasing an additional 84,812 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Magnolia Oil & Gas by 4.4% during the second quarter. Vanguard Group Inc. now owns 15,037,371 shares of the company’s stock valued at $235,034,000 after purchasing an additional 639,753 shares in the last quarter. FMR LLC boosted its holdings in Magnolia Oil & Gas by 7.8% during the second quarter. FMR LLC now owns 11,221,849 shares of the company’s stock valued at $175,397,000 after purchasing an additional 815,539 shares in the last quarter. BlackRock Inc. boosted its holdings in Magnolia Oil & Gas by 0.5% during the second quarter. BlackRock Inc. now owns 10,823,307 shares of the company’s stock valued at $169,168,000 after purchasing an additional 50,574 shares in the last quarter. Finally, Wasatch Advisors Inc. boosted its holdings in Magnolia Oil & Gas by 11.3% during the second quarter. Wasatch Advisors Inc. now owns 6,593,439 shares of the company’s stock valued at $103,055,000 after purchasing an additional 667,311 shares in the last quarter.

MGY stock opened at $22.23 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.98 and a quick ratio of 1.98. The company has a 50 day moving average price of $19.72 and a 200 day moving average price of $17.68. Magnolia Oil & Gas Co. has a fifty-two week low of $8.40 and a fifty-two week high of $22.25. The stock has a market capitalization of $5.14 billion, a PE ratio of 13.23 and a beta of 2.46.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Sunday, October 31st. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.06. Magnolia Oil & Gas had a net margin of 33.08% and a return on equity of 35.78%. The firm had revenue of $283.58 million during the quarter, compared to analysts’ expectations of $278.35 million. During the same quarter in the previous year, the company posted $0.06 EPS. Magnolia Oil & Gas’s revenue was up 134.2% on a year-over-year basis. As a group, equities analysts expect that Magnolia Oil & Gas Co. will post 2.37 earnings per share for the current fiscal year.

A number of research firms have weighed in on MGY. Benchmark began coverage on Magnolia Oil & Gas in a report on Tuesday, October 26th. They set a “hold” rating on the stock. Credit Suisse Group lifted their price objective on Magnolia Oil & Gas from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Tuesday, November 2nd. Piper Sandler boosted their target price on Magnolia Oil & Gas from $18.00 to $25.00 and gave the stock an “overweight” rating in a report on Thursday, October 21st. Truist boosted their target price on Magnolia Oil & Gas from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, October 7th. Finally, Truist Securities boosted their target price on Magnolia Oil & Gas from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, October 7th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $20.88.

Magnolia Oil & Gas Profile

Magnolia Oil & Gas Corp. engages in oil and gas exploration and production business. It operates assets located in the Eagle Ford Shale and Austin Chalk formations in South Texas. The company was founded on July 31, 2018 and is headquartered in Houston, TX.

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Institutional Ownership by Quarter for Magnolia Oil & Gas (NYSE:MGY)

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