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Truist Financial Corp acquires 59,276 Magnolia Oil & Gas Co. shares (NYSE:MGY)

Truist Financial Corp acquires 59,276 Magnolia Oil & Gas Co. shares (NYSE:MGY)

The most recent 13F filing that Trust Financial Corp. submitted to the Securities and Exchange Commission (SEC) revealed that the company increased its holdings in Magnolia Oil & Gas Co. (NYSE: MGY) during the third quarter by a factor of 100.3%. The fund had previously owned 59,276 shares of the company’s stock, but after the end of the period, it had a total holding of 118,353 shares of the company’s stock. At the end of the most recent fiscal quarter, Trust Financial Corp. held approximately 0.05% of the outstanding Magnolia Oil & Gas shares, which had a value of $2,345,000.

Recent actions taken by these entities have altered the positions held within the industry by a great number of other institutional investors and hedge funds. Bank of Montreal increased the Magnolia Oil & Gas proportion in its portfolio by 2.4% over the second quarter. Bank of Montreal now holds 20,230 shares in the corporation, which have a value of $463,000 due to purchasing 473 additional shares during the most recent fiscal quarter. This brings the total number of shares the Bank of Montreal owns in the company to 20,230. HSBC Holdings PLC increased the proportion of Magnolia Oil & Gas owned by 4.7% over the first three months of 2018. HSBC Holdings PLC now has 12,112 shares of the company’s stock following purchasing an additional 539 shares during the most recent quarter. The value of these 12,112 shares of stock comes to a sum that is equal to $293,000. BNP Paribas Arbitrage S.A. increased the percentage of Magnolia Oil & Gas shares it owned by 3.3% during the first three months of the current year. The most recent fiscal quarter saw BNP Paribas Arbitrage S.A. acquire an additional 673 shares of the company. This brings the total number of shares they own in the company to 21,240, with an associated value of $502,000. During the second quarter, Raymond James Trust National Association achieved a 7.9% increase in the portion of Magnolia Oil & Gas it owned. Raymond James Trust N.A. now owns 10,581 shares of the company’s stock, which has a value of $222,000; the total number of shares owned by the company has now reached $222,000. The most recent quarter saw the purchase of 772 additional shares, bringing the total number of shares owned by the company to $222,000. And finally, but certainly not least, during the second quarter, Nisa Investment Advisors LLC increased the percentage of Magnolia Oil & Gas shares it held by 24.4%. Nisa Investment Advisors LLC now holds 4,230 shares of the company’s stock, following the acquisition of an additional 830 shares during the most recent quarter. Each share of the company’s stock is currently valued at $89,000. Institutional investors and hedge funds jointly own 98.60% of the company’s total shares, which means that these two types of investors hold the majority of the company’s stock.

On Monday, the price at which trading commenced on the NYSE MGY was $23.80. At the moment, the share price of the company is trading at $24.32, which is higher than its 50-day simple moving average but lower than its 200-day simple moving average, which is $23.21. The company’s market capitalization is $5.15 billion, the price-to-earnings ratio of the stock is 5.50, and the company has a beta of 2.13. In the past 52 weeks, the price of Magnolia Oil & Gas Co. has ranged from a low of $18.01 to a high of $30.31. The average price during that period was $30.31. The debt-to-equity ratio is 0.27, the quick ratio is 2.63, the current ratio is also 2.63, and the quick ratio is also 2.63.

The financial results report for Magnolia Oil & Gas, which is publicly traded on the NYSE and goes by the symbol MGY, was made available to the public on November 1. The company reported earnings per share (EPS) of $1.29 for the period, which is $0.11 higher than the average expectation of $1.18 that the analysts had for the earnings. Magnolia Oil & Gas had a return on equity of 66.39 percent and a net margin of 48.42 percent goes by the symbol MGY, was made available to the public on November 1. The company reported earnings per share (EPS) of $1.29 for the period, which is $0.11 higher than the average expectation of $1.18 that the analysts had for the earnings. Magnolia Oil & Gas had a return on equity of 66.39 percent and a net margin of 48.42 percent. The company’s revenue for the quarter was $482.96 million, which is significantly higher than the $454.87 million that market watchers predicted it would bring in. The financial market analysts anticipate that Magnolia Oil & Gas Co. will have earnings of $4.48 per share in 2018 and have priced the company’s shares accordingly.

In addition, the company just recently announced and paid out a quarterly dividend, which was paid out on December 1. This dividend was distributed. Those shareholders who were recorded as owning shares as of November 7 were eligible to receive dividend payments equal to $0.10 per share and distributed to those shareholders. This results in a dividend payment of $0.40 per year and a dividend yield of 1.68% for the stock. When expressed in terms of an annualized amount. This past Friday, November 4, was the date customers were required to pay the dividend. The dividend payout ratio (DPR) for Magnolia Oil & Gas is 9.24%.

MGY has been the focus of recent research compiled and distributed by several brokerage companies. KeyCorp gave Magnolia Oil & Gas an “overweight” rating in a research note published on November 3, and KeyCorp increased its price target for the company from $28.00 to $30.00. The note was regarding the company’s stock. Magnolia Oil & Gas’s grade from TheStreet dropped to “c-” on December 7

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