Magnolia Oil & Gas Corp $MGY Stock Holdings Lowered by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its holdings in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 35.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 269,973 shares of the company’s stock after selling 149,368 shares during the period. Thrivent Financial for Lutherans owned approximately 0.14% of Magnolia Oil & Gas worth $6,069,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Campbell & CO Investment Adviser LLC boosted its stake in shares of Magnolia Oil & Gas by 325.0% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 214,211 shares of the company’s stock worth $4,815,000 after acquiring an additional 163,804 shares in the last quarter. Jane Street Group LLC raised its position in shares of Magnolia Oil & Gas by 1,382.9% during the first quarter. Jane Street Group LLC now owns 1,059,335 shares of the company’s stock worth $26,759,000 after purchasing an additional 987,896 shares during the period. Phocas Financial Corp. lifted its holdings in shares of Magnolia Oil & Gas by 69.0% during the second quarter. Phocas Financial Corp. now owns 189,378 shares of the company’s stock valued at $4,257,000 after purchasing an additional 77,327 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Magnolia Oil & Gas by 12.9% in the 2nd quarter. American Century Companies Inc. now owns 11,861,231 shares of the company’s stock valued at $266,641,000 after purchasing an additional 1,358,878 shares during the period. Finally, Nordea Investment Management AB boosted its position in shares of Magnolia Oil & Gas by 1.0% in the 2nd quarter. Nordea Investment Management AB now owns 444,636 shares of the company’s stock valued at $10,062,000 after purchasing an additional 4,372 shares during the period. 94.73% of the stock is currently owned by institutional investors.

Magnolia Oil & Gas Stock Performance

MGY stock opened at $21.63 on Friday. The firm has a 50 day simple moving average of $22.73 and a 200 day simple moving average of $23.38. Magnolia Oil & Gas Corp has a 52 week low of $19.09 and a 52 week high of $26.84. The stock has a market cap of $4.08 billion, a P/E ratio of 12.08, a P/E/G ratio of 2.93 and a beta of 0.93. 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 (NYSE:MGY) last released its earnings results on Wednesday, October 29th. The company reported $0.41 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.41. The company had revenue of $324.94 million during the quarter, compared to the consensus estimate of $322.52 million. Magnolia Oil & Gas had a net margin of 25.90% and a return on equity of 18.10%. The company’s revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.52 EPS. Research analysts anticipate that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, November 10th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $0.60 dividend on an annualized basis and a yield of 2.8%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 33.52%.

Analyst Upgrades and Downgrades

MGY has been the subject of a number of analyst reports. KeyCorp set a $29.00 price objective on shares of Magnolia Oil & Gas and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Piper Sandler cut their price target on shares of Magnolia Oil & Gas from $25.00 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday, November 18th. William Blair started coverage on shares of Magnolia Oil & Gas in a research report on Monday, August 25th. They issued an “outperform” rating for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Magnolia Oil & Gas in a research report on Wednesday, October 8th. Finally, Mizuho set a $29.00 target price on shares of Magnolia Oil & Gas in a research note on Friday, December 12th. Six analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $26.50.

Magnolia Oil & Gas Profile

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).