PDT Partners LLC Lowers Stock Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

PDT Partners LLC reduced its stake in Magnolia Oil & Gas Co. (NYSE:MGY) by 33.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 171,493 shares of the company’s stock after selling 86,497 shares during the quarter. PDT Partners LLC owned about 0.09% of Magnolia Oil & Gas worth $4,188,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Harbor Capital Advisors Inc. bought a new stake in Magnolia Oil & Gas in the third quarter worth $25,000. First Horizon Advisors Inc. boosted its stake in Magnolia Oil & Gas by 64.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock worth $25,000 after purchasing an additional 396 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted 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 worth $26,000 after purchasing an additional 982 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in Magnolia Oil & Gas during the 2nd quarter valued at about $26,000. Finally, GAMMA Investing LLC increased its stake in Magnolia Oil & Gas by 184.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock valued at $41,000 after purchasing an additional 1,042 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Price Performance

NYSE MGY opened at $27.74 on Friday. The company has a 50-day moving average price of $26.40 and a 200-day moving average price of $25.58. Magnolia Oil & Gas Co. has a 52 week low of $19.16 and a 52 week high of $29.02. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $5.45 billion, a P/E ratio of 13.73, a PEG ratio of 1.41 and a beta of 1.99.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Wednesday, October 30th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.04. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.78%. The company had revenue of $333.14 million during the quarter, compared to analyst estimates of $331.45 million. Equities research analysts anticipate that Magnolia Oil & Gas Co. will post 1.99 earnings per share for the current year.

Magnolia Oil & Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders 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 annualized dividend and a dividend yield of 1.87%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 25.74%.

Insider Buying and Selling

In related news, Director Ltd. Enervest sold 7,000,000 shares of the business’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 transaction of $181,020,000.00. Following the completion of the transaction, the director now directly owns 2,099,403 shares in the company, valued at approximately $54,290,561.58. The trade was a 76.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

MGY has been the topic of several analyst reports. Susquehanna dropped their target price on shares of Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Truist Financial upped their price objective on Magnolia Oil & Gas from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Wells Fargo & Company lowered Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $26.00 to $22.00 in a report on Tuesday, October 1st. JPMorgan Chase & Co. lowered their price target 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. Finally, 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 report on Tuesday, October 15th. Two investment 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, Magnolia Oil & Gas presently has a consensus rating of “Hold” and a consensus price target 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.