Northern Trust Corp Has $3.09 Million Stake in Magnolia Oil & Gas Corp (MGY)

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Northern Trust Corp grew its position in Magnolia Oil & Gas Corp (NYSE:MGY) by 5.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 275,919 shares of the company’s stock after acquiring an additional 14,039 shares during the period. Northern Trust Corp’s holdings in Magnolia Oil & Gas were worth $3,092,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Citigroup Inc. acquired a new position in Magnolia Oil & Gas during the fourth quarter worth $2,750,000. Bank of New York Mellon Corp raised its holdings in Magnolia Oil & Gas by 128.7% during the fourth quarter. Bank of New York Mellon Corp now owns 117,747 shares of the company’s stock worth $1,320,000 after buying an additional 66,253 shares during the last quarter. BlackRock Inc. raised its holdings in Magnolia Oil & Gas by 465.0% during the fourth quarter. BlackRock Inc. now owns 1,649,863 shares of the company’s stock worth $18,495,000 after buying an additional 1,357,865 shares during the last quarter. BBR Partners LLC acquired a new position in Magnolia Oil & Gas during the fourth quarter worth $336,000. Finally, PNC Financial Services Group Inc. raised its holdings in Magnolia Oil & Gas by 449.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,792 shares of the company’s stock worth $98,000 after buying an additional 7,192 shares during the last quarter. 63.83% of the stock is owned by institutional investors.

Several analysts have recently issued reports on the stock. Citigroup assumed coverage on shares of Magnolia Oil & Gas in a research note on Wednesday, January 9th. They issued a “positive” rating and a $16.00 target price for the company. Oppenheimer assumed coverage on shares of Magnolia Oil & Gas in a research note on Saturday, February 2nd. They issued a “buy” rating and a $15.00 target price for the company. JPMorgan Chase & Co. assumed coverage on shares of Magnolia Oil & Gas in a research note on Tuesday, April 9th. They issued an “overweight” rating and a $16.00 target price for the company. Zacks Investment Research lowered shares of Magnolia Oil & Gas from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 7th. Finally, Susquehanna Bancshares assumed coverage on shares of Magnolia Oil & Gas in a research note on Wednesday, January 9th. They issued a “positive” rating and a $16.00 target price for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $16.30.

NYSE MGY opened at $13.69 on Friday. Magnolia Oil & Gas Corp has a 1 year low of $9.88 and a 1 year high of $15.23. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.14.

Magnolia Oil & Gas (NYSE:MGY) last posted its earnings results on Monday, February 25th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.07). The firm had revenue of $255.06 million for the quarter, compared to analysts’ expectations of $267.36 million. As a group, equities analysts predict that Magnolia Oil & Gas Corp will post 0.76 EPS for the current year.

In related news, Chairman Stephen I. Chazen purchased 25,000 shares of Magnolia Oil & Gas stock in a transaction that occurred on Wednesday, March 6th. The stock was bought at an average price of $12.31 per share, for a total transaction of $307,750.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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About Magnolia Oil & Gas

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

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