Jupiter Asset Management Ltd. Sells 85,378 Shares of Magnolia Oil & Gas Corp $MGY

Jupiter Asset Management Ltd. reduced its position in Magnolia Oil & Gas Corp (NYSE:MGY) by 54.4% during the second quarter, HoldingsChannel.com reports. The firm owned 71,508 shares of the company’s stock after selling 85,378 shares during the period. Jupiter Asset Management Ltd.’s holdings in Magnolia Oil & Gas were worth $1,608,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Magnolia Oil & Gas by 236.2% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,190 shares of the company’s stock valued at $27,000 after buying an additional 836 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Magnolia Oil & Gas during the 2nd quarter valued at $30,000. GAMMA Investing LLC grew its position in Magnolia Oil & Gas by 98.6% in the 2nd quarter. GAMMA Investing LLC now owns 5,009 shares of the company’s stock valued at $113,000 after acquiring an additional 2,487 shares during the last quarter. Smartleaf Asset Management LLC grew its position in Magnolia Oil & Gas by 34.3% in the 1st quarter. Smartleaf Asset Management LLC now owns 5,072 shares of the company’s stock valued at $128,000 after acquiring an additional 1,295 shares during the last quarter. Finally, Pacer Advisors Inc. purchased a new stake in Magnolia Oil & Gas in the first quarter worth $136,000. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on MGY shares. Mizuho boosted their target price on shares of Magnolia Oil & Gas from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Piper Sandler boosted their price objective on shares of Magnolia Oil & Gas from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. Weiss Ratings restated a “hold (c)” rating on shares of Magnolia Oil & Gas in a research note on Wednesday, October 8th. William Blair assumed coverage on shares of Magnolia Oil & Gas in a research note on Monday, August 25th. They set an “outperform” rating for the company. Finally, KeyCorp set a $29.00 price objective on Magnolia Oil & Gas and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Five investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $26.42.

Magnolia Oil & Gas Trading Up 0.6%

Shares of NYSE:MGY opened at $22.87 on Friday. Magnolia Oil & Gas Corp has a 12-month low of $19.09 and a 12-month high of $29.02. The business’s fifty day simple moving average is $23.39 and its 200-day simple moving average is $23.21. The company has a market capitalization of $4.32 billion, a PE ratio of 12.78, a P/E/G ratio of 3.08 and a beta of 1.18. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $0.41 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.41. Magnolia Oil & Gas had a return on equity of 18.10% and a net margin of 25.90%.The firm had revenue of $324.94 million during the quarter, compared to analysts’ expectations of $322.52 million. During the same period in the prior year, the business posted $0.52 EPS. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. As a group, equities research analysts predict that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 10th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, November 10th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.6%. Magnolia Oil & Gas’s dividend payout ratio is presently 33.52%.

Magnolia Oil & Gas Company 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.