Geode Capital Management LLC Buys 116,431 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Geode Capital Management LLC increased its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 2.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,107,769 shares of the company's stock after acquiring an additional 116,431 shares during the period. Geode Capital Management LLC owned about 2.09% of Magnolia Oil & Gas worth $100,332,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MGY. State Street Corp grew its holdings in shares of Magnolia Oil & Gas by 4.2% during the third quarter. State Street Corp now owns 10,700,257 shares of the company's stock worth $261,300,000 after purchasing an additional 435,326 shares during the last quarter. American Century Companies Inc. grew its holdings in Magnolia Oil & Gas by 9.9% during the 2nd quarter. American Century Companies Inc. now owns 9,389,368 shares of the company's stock worth $237,927,000 after acquiring an additional 847,542 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Magnolia Oil & Gas by 16.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,520,725 shares of the company's stock worth $114,554,000 after acquiring an additional 627,933 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Magnolia Oil & Gas by 1.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,061,846 shares of the company's stock valued at $74,770,000 after acquiring an additional 50,351 shares in the last quarter. Finally, Systematic Financial Management LP raised its stake in shares of Magnolia Oil & Gas by 7.5% in the third quarter. Systematic Financial Management LP now owns 2,920,018 shares of the company's stock worth $71,307,000 after acquiring an additional 203,514 shares during the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

Magnolia Oil & Gas Trading Down 0.9 %

MGY traded down $0.20 during midday trading on Thursday, reaching $23.14. 1,816,090 shares of the company were exchanged, compared to its average volume of 2,431,264. The stock has a market capitalization of $4.55 billion, a P/E ratio of 11.46, a PEG ratio of 1.29 and a beta of 1.99. Magnolia Oil & Gas Co. has a one year low of $19.16 and a one year high of $29.02. The stock's 50-day simple moving average is $26.46 and its 200 day simple moving average is $25.62. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.47.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.04. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.78%. The business had revenue of $333.14 million for the quarter, compared to analyst estimates of $331.45 million. As a group, analysts forecast that Magnolia Oil & Gas Co. will post 2 earnings per share for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Friday, November 8th. Magnolia Oil & Gas's dividend payout ratio (DPR) is 25.74%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MGY. Wells Fargo & Company cut shares of Magnolia Oil & Gas from an "equal weight" rating to an "underweight" rating and decreased their price target for the company from $26.00 to $22.00 in a research note on Tuesday, October 1st. Truist Financial increased their price objective on Magnolia Oil & Gas from $31.00 to $33.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Siebert Williams Shank downgraded Magnolia Oil & Gas from a "buy" rating to a "hold" rating and set a $30.00 target price for the company. in a research report on Tuesday, October 15th. Piper Sandler decreased their price target on Magnolia Oil & Gas from $26.00 to $24.00 and set a "neutral" rating on the stock in a report on Tuesday. Finally, Benchmark reissued a "hold" rating on shares of Magnolia Oil & Gas in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $27.58.

Insider Activity at Magnolia Oil & Gas

In other news, Director Ltd. Enervest sold 7,000,000 shares of Magnolia Oil & Gas stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $25.86, for a total transaction of $181,020,000.00. Following the transaction, the director now owns 2,099,403 shares in the company, valued at $54,290,561.58. The trade was a 76.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.20% of the stock is owned by corporate insiders.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corporation, an independent oil and natural gas company, engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. Its properties are located primarily in Karnes County and the Giddings area in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.