Jump Financial LLC Sells 196,897 Shares of Magnolia Oil & Gas Corp $MGY

Key Points

• Jump Financial LLC reduced its holdings in Magnolia Oil & Gas by 88.4%, selling 196,897 shares, leaving them with only 25,963 shares valued at approximately $656,000.
• Several analysts have updated their ratings on Magnolia Oil & Gas, with Piper Sandler raising the price target from $24.00 to $25.00, while CitiGroup maintains a "sell" rating on the stock.
• Magnolia Oil & Gas has recently announced a quarterly dividend of $0.15 per share, representing a 2.4% yield, to be paid to investors of record on August 11th.

Jump Financial LLC lowered its position in shares of Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 88.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 25,963 shares of the company's stock after selling 196,897 shares during the period. Jump Financial LLC's holdings in Magnolia Oil & Gas were worth $656,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Farther Finance Advisors LLC grew its position in Magnolia Oil & Gas by 16.8% during the 1st quarter. Farther Finance Advisors LLC now owns 4,366 shares of the company's stock worth $111,000 after acquiring an additional 629 shares during the last quarter. BOKF NA grew its position in shares of Magnolia Oil & Gas by 3.9% in the 4th quarter. BOKF NA now owns 19,014 shares of the company's stock valued at $473,000 after buying an additional 713 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Magnolia Oil & Gas by 4.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 15,470 shares of the company's stock valued at $391,000 after buying an additional 715 shares during the period. HighTower Advisors LLC raised its position in shares of Magnolia Oil & Gas by 4.9% during the first quarter. HighTower Advisors LLC now owns 15,852 shares of the company's stock worth $400,000 after acquiring an additional 746 shares during the last quarter. Finally, Xponance Inc. lifted its stake in shares of Magnolia Oil & Gas by 6.1% in the first quarter. Xponance Inc. now owns 13,051 shares of the company's stock worth $330,000 after acquiring an additional 752 shares during the period. Institutional investors own 94.73% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Piper Sandler raised their price target on shares of Magnolia Oil & Gas from $24.00 to $25.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Citigroup reiterated a "sell" rating on shares of Magnolia Oil & Gas in a research report on Thursday, July 10th. Bank of America boosted their target price on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the company a "neutral" rating in a report on Friday, May 23rd. Wells Fargo & Company cut their price target on shares of Magnolia Oil & Gas from $22.00 to $21.00 and set an "underweight" rating on the stock in a research report on Monday, June 16th. Finally, William Blair assumed coverage on Magnolia Oil & Gas in a report on Monday, August 25th. They set an "outperform" rating for the company. Four research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Magnolia Oil & Gas currently has a consensus rating of "Hold" and an average target price of $26.67.

Magnolia Oil & Gas Trading Up 0.5%

MGY opened at $24.96 on Monday. The company has a fifty day moving average price of $23.57 and a two-hundred day moving average price of $22.99. Magnolia Oil & Gas Corp has a 1-year low of $19.09 and a 1-year high of $29.02. The company has a market cap of $4.76 billion, a P/E ratio of 13.07, a price-to-earnings-growth ratio of 3.28 and a beta of 1.33. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.40 by $0.03. Magnolia Oil & Gas had a return on equity of 19.34% and a net margin of 27.57%.The company had revenue of $318.98 million during the quarter, compared to the consensus estimate of $311.58 million. During the same period last year, the business posted $0.51 EPS. The firm's revenue for the quarter was down 5.3% compared to the same quarter last year. Analysts predict that Magnolia Oil & Gas Corp will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 11th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Monday, August 11th. Magnolia Oil & Gas's dividend payout ratio (DPR) is currently 31.41%.

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.

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