Magnolia Oil & Gas Co. (NYSE:MGY) Holdings Lifted by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 20.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 863,915 shares of the company's stock after buying an additional 146,421 shares during the period. JPMorgan Chase & Co. owned about 0.44% of Magnolia Oil & Gas worth $20,198,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Mather Group LLC. boosted its stake in shares of Magnolia Oil & Gas by 100.0% during the 4th quarter. Mather Group LLC. now owns 1,090 shares of the company's stock worth $25,000 after acquiring an additional 545 shares in the last quarter. Larson Financial Group LLC boosted its position in Magnolia Oil & Gas by 112.3% during the fourth quarter. Larson Financial Group LLC now owns 1,072 shares of the company's stock worth $25,000 after purchasing an additional 567 shares in the last quarter. R Squared Ltd purchased a new stake in Magnolia Oil & Gas during the fourth quarter worth $43,000. Avior Wealth Management LLC increased its position in shares of Magnolia Oil & Gas by 30.0% in the fourth quarter. Avior Wealth Management LLC now owns 2,194 shares of the company's stock valued at $51,000 after buying an additional 506 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of Magnolia Oil & Gas by 95.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,777 shares of the company's stock valued at $88,000 after buying an additional 1,844 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

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Magnolia Oil & Gas Trading Down 0.5 %

MGY stock traded down $0.11 on Monday, hitting $20.27. 2,152,488 shares of the company were exchanged, compared to its average volume of 2,297,151. Magnolia Oil & Gas Co. has a twelve month low of $19.09 and a twelve month high of $29.02. The stock has a market capitalization of $3.94 billion, a price-to-earnings ratio of 10.50, a price-to-earnings-growth ratio of 3.01 and a beta of 1.57. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 1.47. The business's fifty day moving average is $23.38 and its two-hundred day moving average is $24.86.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its earnings results on Tuesday, February 18th. The company reported $0.49 EPS for the quarter, beating analysts' consensus estimates of $0.46 by $0.03. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. The business had revenue of $326.61 million for the quarter, compared to the consensus estimate of $327.40 million. As a group, research analysts forecast that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.96%. This is a positive change from Magnolia Oil & Gas's previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, February 14th. Magnolia Oil & Gas's dividend payout ratio (DPR) is presently 31.09%.

Insider Transactions at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros acquired 2,500 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was purchased at an average price of $22.05 per share, with a total value of $55,125.00. Following the completion of the acquisition, the chief executive officer now directly owns 892,372 shares in the company, valued at $19,676,802.60. This trade represents a 0.28 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MGY. Truist Financial increased their price objective on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a "buy" rating in a research note on Monday, January 13th. Mizuho increased their price target on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a "neutral" rating in a research report on Monday, December 16th. Bank of America restated a "neutral" rating and set a $28.00 price objective (down from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. The Goldman Sachs Group cut Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and lowered their target price for the company from $27.00 to $26.00 in a report on Friday, January 31st. Finally, Williams Trading set a $29.00 price target on Magnolia Oil & Gas in a report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $27.54.

Magnolia Oil & Gas 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.