State of New Jersey Common Pension Fund D Has $1.88 Million Stock Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

State of New Jersey Common Pension Fund D boosted its position in Magnolia Oil & Gas Co. (NYSE:MGY) by 4.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 77,092 shares of the company’s stock after acquiring an additional 3,230 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Magnolia Oil & Gas were worth $1,883,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of MGY. Vanguard Group Inc. lifted its position in shares of Magnolia Oil & Gas by 16.6% in the first quarter. Vanguard Group Inc. now owns 20,757,369 shares of the company’s stock valued at $538,654,000 after buying an additional 2,956,314 shares during the last quarter. Oliver Luxxe Assets LLC boosted its position in Magnolia Oil & Gas by 80.6% during the third quarter. Oliver Luxxe Assets LLC now owns 87,624 shares of the company’s stock worth $2,140,000 after purchasing an additional 39,098 shares during the period. Argent Capital Management LLC increased its holdings in shares of Magnolia Oil & Gas by 56.8% in the second quarter. Argent Capital Management LLC now owns 29,111 shares of the company’s stock valued at $738,000 after purchasing an additional 10,547 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its position in shares of Magnolia Oil & Gas by 740.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 157,757 shares of the company’s stock valued at $4,092,000 after purchasing an additional 138,982 shares during the period. Finally, Comerica Bank lifted its stake in shares of Magnolia Oil & Gas by 38.8% during the 1st quarter. Comerica Bank now owns 172,569 shares of the company’s stock worth $4,478,000 after buying an additional 48,228 shares during the last quarter. Institutional investors own 94.73% of the company’s stock.

Insiders Place Their Bets

In related news, Director Ltd. Enervest sold 7,000,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $25.86, for a total transaction of $181,020,000.00. Following the sale, the director now owns 2,099,403 shares of the company’s stock, valued at $54,290,561.58. This trade represents a 76.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Benchmark reiterated a “hold” rating on shares of Magnolia Oil & Gas in a research note on Tuesday, October 15th. Piper Sandler dropped their price target on Magnolia Oil & Gas from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday, August 15th. Mizuho reduced their price target on Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Bank of America increased their price objective on Magnolia Oil & Gas from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Finally, Susquehanna reduced their target price on shares of Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $27.67.

Magnolia Oil & Gas Trading Up 2.2 %

Shares of MGY opened at $27.45 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.47. Magnolia Oil & Gas Co. has a 52-week low of $19.16 and a 52-week high of $27.96. The firm has a market cap of $5.40 billion, a price-to-earnings ratio of 13.63, a PEG ratio of 1.37 and a beta of 1.99. The business’s fifty day moving average is $25.69 and its 200-day moving average is $25.43.

Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results on Wednesday, October 30th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.48 by $0.04. The firm had revenue of $333.14 million during the quarter, compared to the consensus estimate of $331.45 million. Magnolia Oil & Gas had a return on equity of 20.78% and a net margin of 28.88%. Equities analysts anticipate that Magnolia Oil & Gas Co. will post 1.99 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be given a $0.13 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.52 dividend on an annualized basis and a yield of 1.89%. Magnolia Oil & Gas’s dividend 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.