JPMorgan Chase & Co. Increases Position in Magnolia Oil & Gas Corp $MGY

JPMorgan Chase & Co. lifted its stake in Magnolia Oil & Gas Corp (NYSE:MGY) by 34.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 858,972 shares of the company’s stock after purchasing an additional 221,920 shares during the quarter. JPMorgan Chase & Co.’s holdings in Magnolia Oil & Gas were worth $20,504,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in MGY. AQR Capital Management LLC raised its holdings in Magnolia Oil & Gas by 77.7% in the first quarter. AQR Capital Management LLC now owns 56,346 shares of the company’s stock worth $1,423,000 after purchasing an additional 24,631 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Magnolia Oil & Gas by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 103,109 shares of the company’s stock valued at $2,605,000 after buying an additional 4,512 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Magnolia Oil & Gas by 8.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 242,880 shares of the company’s stock valued at $6,135,000 after buying an additional 18,447 shares in the last quarter. Intech Investment Management LLC grew its position in shares of Magnolia Oil & Gas by 11.3% in the 1st quarter. Intech Investment Management LLC now owns 68,814 shares of the company’s stock worth $1,738,000 after buying an additional 7,008 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in shares of Magnolia Oil & Gas by 157.6% in the 2nd quarter. SG Americas Securities LLC now owns 22,677 shares of the company’s stock worth $510,000 after buying an additional 13,874 shares during the last quarter. Institutional investors own 94.73% of the company’s stock.

Insider Transactions at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, Director Dan F. Smith sold 18,000 shares of the business’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $29.01, for a total transaction of $522,180.00. Following the sale, the director owned 119,204 shares in the company, valued at approximately $3,458,108.04. The trade was a 13.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher G. Stavros sold 119,954 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $29.29, for a total value of $3,513,452.66. Following the completion of the transaction, the chief executive officer directly owned 883,592 shares in the company, valued at $25,880,409.68. This represents a 11.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 338,954 shares of company stock worth $9,911,733 over the last 90 days. Insiders own 0.93% of the company’s stock.

Magnolia Oil & Gas Stock Performance

Shares of Magnolia Oil & Gas stock opened at $31.29 on Wednesday. The company has a 50 day moving average price of $26.92 and a 200 day moving average price of $24.34. The firm has a market capitalization of $5.83 billion, a P/E ratio of 18.19, a PEG ratio of 2.79 and a beta of 0.89. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas Corp has a 52 week low of $19.09 and a 52 week high of $31.66.

Magnolia Oil & Gas (NYSE:MGY) last released its earnings results on Thursday, February 5th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.01. The company had revenue of $317.63 million for the quarter, compared to the consensus estimate of $322.18 million. Magnolia Oil & Gas had a net margin of 24.79% and a return on equity of 16.67%. Magnolia Oil & Gas’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.44 EPS. Sell-side analysts expect that Magnolia Oil & Gas Corp will post 2.1 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Tuesday, February 10th were given a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Tuesday, February 10th. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.15. Magnolia Oil & Gas’s payout ratio is currently 38.37%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Roth Mkm reissued a “buy” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, February 10th. Zacks Research raised shares of Magnolia Oil & Gas from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 11th. Susquehanna reduced their price target on Magnolia Oil & Gas from $30.00 to $28.00 and set a “positive” rating on the stock in a research report on Monday, January 26th. Wells Fargo & Company set a $25.00 price objective on Magnolia Oil & Gas in a report on Monday, February 16th. Finally, KeyCorp raised their price objective on Magnolia Oil & Gas from $29.00 to $30.00 and gave the stock an “overweight” rating in a research report on Monday, February 9th. Eight analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $29.27.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corp (NYSE: MGY) is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties.

The company’s core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs).