Magnolia Oil & Gas Co. (NYSE:MGY) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its holdings in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 4.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 717,494 shares of the company's stock after selling 30,190 shares during the quarter. JPMorgan Chase & Co. owned 0.37% of Magnolia Oil & Gas worth $17,521,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. State Street Corp grew its stake in shares of Magnolia Oil & Gas by 4.2% in the 3rd quarter. State Street Corp now owns 10,700,257 shares of the company's stock worth $261,300,000 after buying an additional 435,326 shares in the last quarter. American Century Companies Inc. grew its position in Magnolia Oil & Gas by 9.9% in the second 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 in the last quarter. Dimensional Fund Advisors LP grew its position in Magnolia Oil & Gas by 16.1% in the second 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 in the last quarter. Geode Capital Management LLC increased its stake in Magnolia Oil & Gas by 2.9% during the third quarter. Geode Capital Management LLC now owns 4,107,769 shares of the company's stock worth $100,332,000 after acquiring an additional 116,431 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in Magnolia Oil & Gas by 1.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,061,846 shares of the company's stock valued at $74,770,000 after purchasing an additional 50,351 shares during the period. Institutional investors own 94.73% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on MGY shares. JPMorgan Chase & Co. dropped their target price on Magnolia Oil & Gas from $26.00 to $23.00 and set a "neutral" rating for the company in a report on Thursday, September 12th. Mizuho lifted their price objective on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a "neutral" rating in a research note on Monday, December 16th. Benchmark reissued a "hold" rating on shares of Magnolia Oil & Gas in a research note on Tuesday, October 15th. Truist Financial lifted their price target on shares of Magnolia Oil & Gas from $31.00 to $33.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Finally, Siebert Williams Shank downgraded shares of Magnolia Oil & Gas from a "buy" rating to a "hold" rating and set a $30.00 price target on the stock. in a report on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $27.58.

Magnolia Oil & Gas Trading Up 2.6 %

MGY stock traded up $0.62 during mid-day trading on Friday, reaching $24.90. The company had a trading volume of 2,581,761 shares, compared to its average volume of 1,945,602. The company has a market capitalization of $4.89 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 1.29 and a beta of 2.00. The firm has a 50 day moving average of $25.65 and a 200 day moving average of $25.50. Magnolia Oil & Gas Co. has a 12 month low of $19.16 and a 12 month high of $29.02. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.47 and a quick ratio of 1.47.

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

Magnolia Oil & Gas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were issued a $0.13 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.52 dividend on an annualized basis and a yield of 2.09%. Magnolia Oil & Gas's dividend payout ratio is presently 25.74%.

Magnolia Oil & Gas Company Profile

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.