Maryland State Retirement & Pension System Raises Stock Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Maryland State Retirement & Pension System lifted its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 1.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 64,333 shares of the company’s stock after buying an additional 793 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Magnolia Oil & Gas were worth $1,504,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of MGY. First Horizon Advisors Inc. lifted its position in shares of Magnolia Oil & Gas by 64.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock worth $25,000 after buying an additional 396 shares during the last quarter. Mather Group LLC. raised its position in Magnolia Oil & Gas by 100.0% in the 4th quarter. Mather Group LLC. now owns 1,090 shares of the company’s stock valued at $25,000 after purchasing an additional 545 shares during the last quarter. Larson Financial Group LLC raised its position in Magnolia Oil & Gas by 112.3% in the 4th quarter. Larson Financial Group LLC now owns 1,072 shares of the company’s stock valued at $25,000 after purchasing an additional 567 shares during the last quarter. R Squared Ltd purchased a new stake in Magnolia Oil & Gas in the 4th quarter valued at $43,000. Finally, Avior Wealth Management LLC raised its position in Magnolia Oil & Gas by 30.0% in the 4th quarter. Avior Wealth Management LLC now owns 2,194 shares of the company’s stock valued at $51,000 after purchasing an additional 506 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Wall Street Analysts Forecast Growth

MGY has been the subject of several research reports. Williams Trading set a $29.00 price target on shares of Magnolia Oil & Gas in a research report on Wednesday, March 5th. Mizuho upped their price target on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. The Goldman Sachs Group downgraded shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and reduced their price target for the company from $27.00 to $26.00 in a research report on Friday, January 31st. Johnson Rice downgraded shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, January 28th. 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 for the company in a research report on Thursday, March 13th. Two 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 data from MarketBeat, the stock presently 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 acquired 2,500 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average cost of $22.05 per share, with a total value of $55,125.00. Following the purchase, the chief executive officer now owns 892,372 shares in the company, valued at approximately $19,676,802.60. The trade was a 0.28 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.40% of the stock is owned by corporate insiders.

Magnolia Oil & Gas Stock Performance

NYSE:MGY opened at $25.03 on Friday. The company has a quick ratio of 1.47, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas Co. has a fifty-two week low of $21.63 and a fifty-two week high of $29.02. The stock has a market cap of $4.86 billion, a PE ratio of 12.97, a price-to-earnings-growth ratio of 3.01 and a beta of 1.90. The firm’s fifty day simple moving average is $24.16 and its 200-day simple moving average is $25.01.

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

Magnolia Oil & Gas Increases Dividend

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

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.