Isthmus Partners LLC Invests $216,000 in Magnolia Oil & Gas Co. (NYSE:MGY)

Isthmus Partners LLC acquired a new stake in Magnolia Oil & Gas Co. (NYSE:MGY) during the third quarter, according to its most recent 13F filing with the SEC. The fund acquired 8,860 shares of the company’s stock, valued at approximately $216,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MGY. Price T Rowe Associates Inc. MD raised its stake in Magnolia Oil & Gas by 0.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 594,173 shares of the company’s stock valued at $15,419,000 after acquiring an additional 1,624 shares during the period. Tidal Investments LLC bought a new stake in Magnolia Oil & Gas in the 1st quarter valued at about $566,000. Comerica Bank raised its stake in Magnolia Oil & Gas by 38.8% in the 1st 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. GAMMA Investing LLC raised its stake in Magnolia Oil & Gas by 184.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock valued at $41,000 after acquiring an additional 1,042 shares during the period. Finally, Massmutual Trust Co. FSB ADV raised its stake in Magnolia Oil & Gas by 1,753.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,038 shares of the company’s stock valued at $26,000 after acquiring an additional 982 shares during the period. 94.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on MGY shares. Wells Fargo & Company cut Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $26.00 to $22.00 in a research note on Tuesday, October 1st. Susquehanna decreased their price target on Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Mizuho decreased their price target on Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Benchmark reiterated a “hold” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. decreased their price target on Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Two investment 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’s stock. Based on data from MarketBeat.com, Magnolia Oil & Gas has a consensus rating of “Hold” and a consensus price target of $27.67.

Magnolia Oil & Gas Stock Up 0.2 %

Shares of NYSE MGY opened at $27.74 on Friday. Magnolia Oil & Gas Co. has a 12 month low of $19.16 and a 12 month high of $29.02. 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 has a market capitalization of $5.45 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 1.41 and a beta of 1.99. The business has a 50-day moving average of $26.40 and a 200-day moving average of $25.58.

Magnolia Oil & Gas (NYSE:MGY) last issued 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. Magnolia Oil & Gas had a return on equity of 20.78% and a net margin of 28.88%. The company had revenue of $333.14 million during the quarter, compared to analyst estimates of $331.45 million. Sell-side analysts expect that Magnolia Oil & Gas Co. will post 1.99 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The company 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 1.87%. The ex-dividend date of this dividend is Friday, November 8th. Magnolia Oil & Gas’s dividend payout ratio is currently 25.74%.

Insiders Place Their Bets

In other Magnolia Oil & Gas news, Director Ltd. Enervest sold 7,000,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $25.86, for a total value of $181,020,000.00. Following the completion of the sale, the director now owns 2,099,403 shares of the company’s stock, valued at $54,290,561.58. This represents 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 through the SEC website. 1.20% of the stock is owned by insiders.

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.