Gilder Gagnon Howe & Co. LLC lifted its position in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 29.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 808,879 shares of the company’s stock after purchasing an additional 183,044 shares during the quarter. Gilder Gagnon Howe & Co. LLC’s holdings in Magnolia Oil & Gas were worth $8,979,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in MGY. Icon Wealth Partners LLC raised its position in Magnolia Oil & Gas by 9.1% in the third quarter. Icon Wealth Partners LLC now owns 12,000 shares of the company’s stock worth $133,000 after purchasing an additional 1,000 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Magnolia Oil & Gas by 5.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 24,554 shares of the company’s stock valued at $284,000 after purchasing an additional 1,331 shares during the period. California State Teachers Retirement System grew its stake in shares of Magnolia Oil & Gas by 1.2% in the 3rd quarter. California State Teachers Retirement System now owns 157,482 shares of the company’s stock valued at $1,748,000 after purchasing an additional 1,881 shares during the period. Aperio Group LLC acquired a new position in shares of Magnolia Oil & Gas in the 2nd quarter worth approximately $25,000. Finally, First Mercantile Trust Co. raised its holdings in shares of Magnolia Oil & Gas by 28.2% in the 3rd quarter. First Mercantile Trust Co. now owns 10,740 shares of the company’s stock worth $119,000 after buying an additional 2,360 shares in the last quarter. 68.63% of the stock is currently owned by institutional investors.
In other Magnolia Oil & Gas news, Director Michael G. Macdougall sold 150,000 shares of the firm’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $11.51, for a total value of $1,726,500.00. Also, Director Michael G. Macdougall sold 50,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $11.42, for a total transaction of $571,000.00. Following the completion of the transaction, the director now directly owns 21,961 shares of the company’s stock, valued at $250,794.62. The disclosure for this sale can be found here. In the last three months, insiders sold 496,826 shares of company stock worth $5,660,847. Insiders own 7.90% of the company’s stock.
Several analysts recently commented on the company. KeyCorp initiated coverage on Magnolia Oil & Gas in a research note on Wednesday, November 27th. They issued an “overweight” rating and a $14.00 price target on the stock. Barclays started coverage on Magnolia Oil & Gas in a research note on Friday, August 30th. They set an “overweight” rating and a $13.00 price objective for the company. Piper Jaffray Companies cut their price objective on Magnolia Oil & Gas from $14.00 to $13.00 and set an “overweight” rating for the company in a report on Monday, September 30th. TheStreet raised Magnolia Oil & Gas from a “d” rating to a “b-” rating in a report on Wednesday, October 30th. Finally, Zacks Investment Research upgraded shares of Magnolia Oil & Gas from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $15.50.
Shares of MGY opened at $11.80 on Wednesday. The company has a market capitalization of $2.98 billion, a P/E ratio of 23.98 and a beta of 1.28. Magnolia Oil & Gas Corp has a one year low of $9.27 and a one year high of $14.13. The business’s 50 day simple moving average is $11.12 and its 200-day simple moving average is $10.88. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.54 and a quick ratio of 1.54.
Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings results on Monday, November 4th. The company reported $0.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.04). Magnolia Oil & Gas had a net margin of 7.80% and a return on equity of 2.81%. The business had revenue of $244.80 million for the quarter, compared to analyst estimates of $247.17 million. On average, sell-side analysts anticipate that Magnolia Oil & Gas Corp will post 0.35 EPS for the current fiscal year.
Magnolia Oil & Gas Company Profile
Magnolia Oil & Gas Corporation engages in the business of acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. The company has oil and natural gas properties located primarily in Karnes County and the Giddings Field in South Texas primarily comprising the Eagle Ford Shale and the Austin Chalk formation.
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