Maryland State Retirement & Pension System Grows Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Maryland State Retirement & Pension System raised its position in Magnolia Oil & Gas Co. (NYSE:MGY) by 1.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 64,333 shares of the company’s stock after buying an additional 793 shares during the period. Maryland State Retirement & Pension System’s holdings in Magnolia Oil & Gas were worth $1,504,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in Magnolia Oil & Gas by 4.2% in the 3rd quarter. State Street Corp now owns 10,700,257 shares of the company’s stock valued at $261,300,000 after purchasing an additional 435,326 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Magnolia Oil & Gas by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,107,769 shares of the company’s stock valued at $100,332,000 after purchasing an additional 116,431 shares in the last quarter. Boston Trust Walden Corp lifted its holdings in Magnolia Oil & Gas by 9.5% in the 4th quarter. Boston Trust Walden Corp now owns 3,090,587 shares of the company’s stock valued at $72,258,000 after purchasing an additional 267,461 shares in the last quarter. Systematic Financial Management LP lifted its holdings in 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 in the last quarter. Finally, Loomis Sayles & Co. L P lifted its holdings in Magnolia Oil & Gas by 10.0% in the 3rd quarter. Loomis Sayles & Co. L P now owns 2,782,550 shares of the company’s stock valued at $67,950,000 after purchasing an additional 253,911 shares in the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MGY. Williams Trading set a $29.00 price objective on shares of Magnolia Oil & Gas in a report on Wednesday, March 5th. Bank of America reiterated a “neutral” rating and set a $28.00 price objective (down from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. Truist Financial increased their price objective on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, January 13th. The Goldman Sachs Group lowered shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $27.00 to $26.00 in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. cut their price objective on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $27.77.

Insider Activity at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros purchased 2,500 shares of Magnolia Oil & Gas stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average price of $22.05 per share, with a total value of $55,125.00. Following the completion of the acquisition, the chief executive officer now owns 892,372 shares of the company’s stock, valued at approximately $19,676,802.60. This trade represents a 0.28 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.40% of the stock is currently owned by company insiders.

Magnolia Oil & Gas Trading Down 1.2 %

MGY opened at $25.03 on Friday. The firm’s 50 day moving average is $24.16 and its 200-day moving average is $25.01. Magnolia Oil & Gas Co. has a 52-week low of $21.63 and a 52-week high of $29.02. The company has a quick ratio of 1.47, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $4.86 billion, a P/E ratio of 12.97, a P/E/G ratio of 3.01 and a beta of 1.90.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.03. The firm had revenue of $326.61 million for the quarter, compared to the consensus estimate of $327.40 million. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. Analysts expect that Magnolia Oil & Gas Co. will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.60 dividend on an annualized basis and a yield of 2.40%. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s dividend payout ratio is currently 31.09%.

Magnolia Oil & Gas 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.