Jacobs Levy Equity Management Inc. Has $9.43 Million Stock Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Jacobs Levy Equity Management Inc. lessened its holdings in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 68.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 385,942 shares of the company's stock after selling 820,201 shares during the period. Jacobs Levy Equity Management Inc. owned 0.20% of Magnolia Oil & Gas worth $9,425,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. American Century Companies Inc. raised its stake in Magnolia Oil & Gas by 9.9% in the 2nd quarter. American Century Companies Inc. now owns 9,389,368 shares of the company's stock valued at $237,927,000 after acquiring an additional 847,542 shares during the period. Dimensional Fund Advisors LP raised its stake in Magnolia Oil & Gas by 16.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,520,725 shares of the company's stock valued at $114,554,000 after acquiring an additional 627,933 shares during the period. Allspring Global Investments Holdings LLC raised its stake 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 during the period. Boston Trust Walden Corp increased its position in Magnolia Oil & Gas by 4.4% during the 3rd quarter. Boston Trust Walden Corp now owns 2,823,126 shares of the company's stock worth $68,941,000 after buying an additional 119,582 shares during the period. Finally, Loomis Sayles & Co. L P increased its position in Magnolia Oil & Gas by 10.0% during the 3rd quarter. Loomis Sayles & Co. L P now owns 2,782,550 shares of the company's stock worth $67,950,000 after buying an additional 253,911 shares during the period. Institutional investors own 94.73% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Piper Sandler lowered their price objective on Magnolia Oil & Gas from $29.00 to $26.00 and set a "neutral" rating on the stock in a research report on Thursday, August 15th. JPMorgan Chase & Co. lowered their price objective on Magnolia Oil & Gas from $26.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday, September 12th. Wells Fargo & Company cut Magnolia Oil & Gas from an "equal weight" rating to an "underweight" rating and lowered their price objective for the stock from $26.00 to $22.00 in a research report on Tuesday, October 1st. Susquehanna reduced their target price on Magnolia Oil & Gas from $33.00 to $32.00 and set a "positive" rating on the stock in a report on Wednesday, September 4th. Finally, Mizuho reduced their target price on Magnolia Oil & Gas from $28.00 to $27.00 and set a "neutral" rating on the stock in a report on Monday, September 16th. Two 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. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $27.67.

Magnolia Oil & Gas Price Performance

Magnolia Oil & Gas stock traded down $0.98 during midday trading on Friday, reaching $25.67. The company's stock had a trading volume of 1,357,149 shares, compared to its average volume of 2,445,960. Magnolia Oil & Gas Co. has a 52 week low of $19.16 and a 52 week high of $29.02. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average price of $26.55 and a 200-day moving average price of $25.62. The stock has a market cap of $5.05 billion, a PE ratio of 13.19, a price-to-earnings-growth ratio of 1.40 and a beta of 1.99.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.04. Magnolia Oil & Gas had a return on equity of 20.78% and a net margin of 28.88%. The firm had revenue of $333.14 million for the quarter, compared to analysts' expectations of $331.45 million. On average, sell-side analysts predict that Magnolia Oil & Gas Co. will post 1.99 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

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 dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend was Friday, November 8th. Magnolia Oil & Gas's dividend payout ratio (DPR) is currently 25.74%.

Insider Transactions at Magnolia Oil & Gas

In other news, Director Ltd. Enervest sold 7,000,000 shares of the business's 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 sale, the director now directly owns 2,099,403 shares in the company, valued at approximately $54,290,561.58. The trade was a 76.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.20% of the company's stock.

Magnolia Oil & Gas 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.