Jane Street Group LLC Reduces Stake in Magnolia Oil & Gas Co. (NYSE:MGY)

Jane Street Group LLC cut its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 76.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 87,677 shares of the company's stock after selling 287,490 shares during the quarter. Jane Street Group LLC's holdings in Magnolia Oil & Gas were worth $2,141,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Harbor Capital Advisors Inc. acquired a new stake in Magnolia Oil & Gas in the third quarter valued at approximately $25,000. First Horizon Advisors Inc. grew its position in Magnolia Oil & Gas by 64.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company's stock valued at $25,000 after purchasing an additional 396 shares during the period. GAMMA Investing LLC increased its stake in Magnolia Oil & Gas by 62.4% during the 3rd quarter. GAMMA Investing LLC now owns 2,609 shares of the company's stock valued at $64,000 after purchasing an additional 1,002 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Magnolia Oil & Gas by 61.9% during the second quarter. Nisa Investment Advisors LLC now owns 2,850 shares of the company's stock worth $72,000 after buying an additional 1,090 shares during the last quarter. Finally, Covestor Ltd lifted its stake in shares of Magnolia Oil & Gas by 36.8% in the third quarter. Covestor Ltd now owns 2,986 shares of the company's stock valued at $73,000 after buying an additional 804 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Magnolia Oil & Gas Trading Up 1.1 %

Shares of MGY stock traded up $0.26 on Tuesday, hitting $23.24. 600,297 shares of the company's stock traded hands, compared to its average volume of 2,443,002. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.47. The stock has a market capitalization of $4.57 billion, a price-to-earnings ratio of 11.51, a P/E/G ratio of 1.29 and a beta of 1.99. The company's fifty day simple moving average is $26.23 and its 200 day simple moving average is $25.60. Magnolia Oil & Gas Co. has a one year low of $19.16 and a one year high of $29.02.

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

Magnolia Oil & Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were given a $0.13 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.52 annualized dividend and a yield of 2.24%. Magnolia Oil & Gas's payout ratio is currently 25.74%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on MGY shares. Wells Fargo & Company cut Magnolia Oil & Gas from an "equal weight" rating to an "underweight" rating and cut their price objective for the stock from $26.00 to $22.00 in a research report on Tuesday, October 1st. Mizuho raised their price objective on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a "neutral" rating in a report on Monday, December 16th. Siebert Williams Shank downgraded shares of Magnolia Oil & Gas from a "buy" rating to a "hold" rating and set a $30.00 price objective for the company. in a report on Tuesday, October 15th. Truist Financial increased their target price on Magnolia Oil & Gas from $31.00 to $33.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. reduced their price target on Magnolia Oil & Gas from $26.00 to $23.00 and set a "neutral" rating for the company in a research report on Thursday, September 12th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Magnolia Oil & Gas presently has a consensus rating of "Hold" and an average price target of $27.58.

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.