Jupiter Asset Management Ltd. Trims Position in Magnolia Oil & Gas Corp $MGY

Jupiter Asset Management Ltd. decreased its position in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 54.4% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 71,508 shares of the company’s stock after selling 85,378 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Magnolia Oil & Gas were worth $1,608,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. American Century Companies Inc. raised its holdings in Magnolia Oil & Gas by 5.7% during the first quarter. American Century Companies Inc. now owns 10,502,353 shares of the company’s stock valued at $265,289,000 after acquiring an additional 562,223 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Magnolia Oil & Gas by 12.5% during the first quarter. Dimensional Fund Advisors LP now owns 5,365,892 shares of the company’s stock worth $135,541,000 after purchasing an additional 597,845 shares in the last quarter. Boston Trust Walden Corp raised its stake in Magnolia Oil & Gas by 26.0% during the 2nd quarter. Boston Trust Walden Corp now owns 4,003,770 shares of the company’s stock valued at $90,005,000 after purchasing an additional 825,162 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Magnolia Oil & Gas by 4.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,307,951 shares of the company’s stock worth $75,454,000 after purchasing an additional 132,564 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Magnolia Oil & Gas by 11.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,315,012 shares of the company’s stock worth $58,477,000 after purchasing an additional 238,471 shares during the period. Institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Performance

Shares of NYSE:MGY opened at $22.87 on Friday. The firm has a fifty day simple moving average of $23.39 and a two-hundred day simple moving average of $23.21. Magnolia Oil & Gas Corp has a 52 week low of $19.09 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 stock has a market capitalization of $4.32 billion, a P/E ratio of 12.78, a PEG ratio of 3.08 and a beta of 1.18.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.41 EPS for the quarter, hitting the consensus estimate of $0.41. Magnolia Oil & Gas had a return on equity of 18.10% and a net margin of 25.90%.The company had revenue of $324.94 million during the quarter, compared to analyst estimates of $322.52 million. During the same quarter last year, the business posted $0.52 earnings per share. The firm’s revenue was down 2.5% on a year-over-year basis. On average, analysts expect that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 10th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, November 10th. This represents a $0.60 annualized dividend and a dividend yield of 2.6%. Magnolia Oil & Gas’s payout ratio is currently 33.52%.

Analyst Upgrades and Downgrades

MGY has been the topic of several recent analyst reports. KeyCorp set a $29.00 price objective on shares of Magnolia Oil & Gas and gave the company an “overweight” rating in a research report on Wednesday, October 15th. William Blair started coverage on shares of Magnolia Oil & Gas in a report on Monday, August 25th. They issued an “outperform” rating on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Magnolia Oil & Gas in a report on Wednesday, October 8th. Piper Sandler raised their price objective on Magnolia Oil & Gas from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. Finally, Mizuho boosted their target price on Magnolia Oil & Gas from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Five equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Magnolia Oil & Gas has a consensus rating of “Hold” and a consensus target price of $26.42.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corp. engages in the acquisition, development, exploration, and production of oil and natural gas properties. It operates assets located in the Eagle Ford Shale and Austin Chalk formations in South Texas. The company was founded on February 14, 2017 and is headquartered in Houston, TX.