Geode Capital Management LLC Has $100.33 Million Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Geode Capital Management LLC grew its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 2.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,107,769 shares of the company’s stock after purchasing an additional 116,431 shares during the quarter. Geode Capital Management LLC owned about 2.09% of Magnolia Oil & Gas worth $100,332,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp raised its stake in Magnolia Oil & Gas by 4.2% during the third quarter. State Street Corp now owns 10,700,257 shares of the company’s stock worth $261,300,000 after buying an additional 435,326 shares during the last quarter. American Century Companies Inc. boosted its position in Magnolia Oil & Gas by 9.9% during the second 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 last quarter. Dimensional Fund Advisors LP grew its holdings in Magnolia Oil & Gas by 16.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,520,725 shares of the company’s stock worth $114,554,000 after acquiring an additional 627,933 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of 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 worth $74,770,000 after acquiring an additional 50,351 shares in the last quarter. Finally, Systematic Financial Management LP lifted its stake in shares of Magnolia Oil & Gas by 7.5% in the 3rd quarter. Systematic Financial Management LP now owns 2,920,018 shares of the company’s stock valued at $71,307,000 after purchasing an additional 203,514 shares during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.

Insider Buying and Selling at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, Director Ltd. Enervest sold 7,000,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $25.86, for a total value of $181,020,000.00. Following the completion of the sale, the director now directly owns 2,099,403 shares of the company’s stock, valued at approximately $54,290,561.58. This represents a 76.93 % decrease in their position. The sale 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.

Analyst Ratings Changes

Several equities research analysts recently commented on MGY shares. Susquehanna decreased their target price on Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. JPMorgan Chase & Co. reduced their price objective on shares of 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. Piper Sandler dropped their target price on shares of Magnolia Oil & Gas from $26.00 to $24.00 and set a “neutral” rating on the stock in a research report on Tuesday. Truist Financial raised their price target on shares of Magnolia Oil & Gas from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Wells Fargo & Company lowered shares of Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $26.00 to $22.00 in a report on Tuesday, October 1st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $27.58.

Magnolia Oil & Gas Trading Down 3.7 %

NYSE:MGY opened at $23.34 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.47 and a quick ratio of 1.47. Magnolia Oil & Gas Co. has a one year low of $19.16 and a one year high of $29.02. The company has a market cap of $4.59 billion, a PE ratio of 11.55, a PEG ratio of 1.29 and a beta of 1.99. The firm has a 50-day moving average of $26.52 and a 200-day moving average of $25.63.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. The firm had revenue of $333.14 million during the quarter, compared to analyst estimates of $331.45 million. Magnolia Oil & Gas had a return on equity of 20.78% and a net margin of 28.88%. As a group, equities research analysts expect that Magnolia Oil & Gas Co. will post 2 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend was Friday, November 8th. Magnolia Oil & Gas’s payout ratio is currently 25.74%.

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.