Magnolia Oil & Gas Co. (NYSE:MGY) Shares Acquired by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund grew its position in Magnolia Oil & Gas Co. (NYSE:MGY) by 1.5% in the fourth quarter, HoldingsChannel reports. The fund owned 44,941 shares of the company’s stock after acquiring an additional 660 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Magnolia Oil & Gas were worth $1,051,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. First Horizon Advisors Inc. raised its position in shares of Magnolia Oil & Gas by 64.7% in the third quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock worth $25,000 after acquiring an additional 396 shares during the period. Albert D Mason Inc. raised its position in shares of Magnolia Oil & Gas by 0.7% in the fourth quarter. Albert D Mason Inc. now owns 61,497 shares of the company’s stock worth $1,438,000 after acquiring an additional 411 shares during the period. Jennison Associates LLC raised its position in shares of Magnolia Oil & Gas by 2.2% in the third quarter. Jennison Associates LLC now owns 23,836 shares of the company’s stock worth $582,000 after acquiring an additional 506 shares during the period. Avior Wealth Management LLC raised its position in shares of Magnolia Oil & Gas by 30.0% in the fourth quarter. Avior Wealth Management LLC now owns 2,194 shares of the company’s stock worth $51,000 after acquiring an additional 506 shares during the period. Finally, Atria Investments Inc raised its position in shares of Magnolia Oil & Gas by 2.3% in the third quarter. Atria Investments Inc now owns 23,576 shares of the company’s stock worth $576,000 after acquiring an additional 523 shares during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.

Analyst Ratings Changes

MGY has been the subject of a number of analyst reports. Truist Financial upped their price objective on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Piper Sandler boosted their target price on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Johnson Rice cut shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Mizuho boosted their target price on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. Finally, Bank of America reaffirmed a “neutral” rating and set a $28.00 price objective (down previously from $29.00) on shares of Magnolia Oil & Gas in a research note on Monday, January 13th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $27.58.

Magnolia Oil & Gas Price Performance

Magnolia Oil & Gas stock opened at $23.40 on Friday. The firm has a market cap of $4.60 billion, a PE ratio of 12.12, a price-to-earnings-growth ratio of 3.01 and a beta of 1.98. Magnolia Oil & Gas Co. has a 52-week low of $22.37 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 company’s 50 day moving average is $24.20 and its two-hundred day moving average is $25.20.

Magnolia Oil & Gas (NYSE:MGY) last released its earnings results on Tuesday, February 18th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. The company had revenue of $326.61 million for the quarter, compared to analyst estimates of $327.40 million. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. On average, research 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 announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a yield of 2.56%. Magnolia Oil & Gas’s dividend payout ratio is 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.