Putnam Investments LLC raised its position in Magnolia Oil & Gas Corp (NYSE:MGY) by 47.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 300,700 shares of the company’s stock after purchasing an additional 96,900 shares during the quarter. Putnam Investments LLC’s holdings in Magnolia Oil & Gas were worth $3,482,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Aperio Group LLC purchased a new position in shares of Magnolia Oil & Gas in the 2nd quarter worth about $25,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Magnolia Oil & Gas in the 2nd quarter worth about $71,000. Bank of Montreal Can purchased a new position in shares of Magnolia Oil & Gas in the 2nd quarter worth about $98,000. Bank of America Corp DE purchased a new position in shares of Magnolia Oil & Gas in the 4th quarter worth about $149,000. Finally, Virginia Retirement Systems ET AL purchased a new position in shares of Magnolia Oil & Gas in the 2nd quarter worth about $195,000. Institutional investors own 66.99% of the company’s stock.

Shares of NYSE:MGY traded up $0.18 during mid-day trading on Monday, hitting $11.83. 595,464 shares of the company traded hands, compared to its average volume of 1,496,262. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.15 and a current ratio of 1.15. Magnolia Oil & Gas Corp has a 52-week low of $9.27 and a 52-week high of $15.23. The firm’s 50 day simple moving average is $10.39 and its 200 day simple moving average is $11.61.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.02). Magnolia Oil & Gas had a return on equity of 5.12% and a net margin of 12.13%. The business had revenue of $242.96 million for the quarter, compared to analysts’ expectations of $239.51 million. On average, sell-side analysts forecast that Magnolia Oil & Gas Corp will post 0.46 earnings per share for the current fiscal year.

In other Magnolia Oil & Gas news, Chairman Stephen I. Chazen acquired 25,000 shares of the company’s stock in a transaction on Friday, August 9th. The shares were bought at an average cost of $10.22 per share, for a total transaction of $255,500.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 7.90% of the stock is owned by insiders.

A number of equities analysts have recently commented on MGY shares. Zacks Investment Research upgraded Magnolia Oil & Gas from a “sell” rating to a “hold” rating in a report on Saturday, September 7th. ValuEngine downgraded Magnolia Oil & Gas from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. R. F. Lafferty set a $20.00 target price on Magnolia Oil & Gas and gave the company a “buy” rating in a report on Wednesday, August 7th. Piper Jaffray Companies began coverage on Magnolia Oil & Gas in a report on Monday, July 8th. They set an “overweight” rating and a $14.00 target price on the stock. Finally, Barclays began coverage on Magnolia Oil & Gas in a report on Friday, August 30th. They set an “overweight” rating and a $13.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $15.58.

Magnolia Oil & Gas 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.

Read More: Certificate of Deposit (CD)

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

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