New York State Teachers Retirement System Has $1.94 Million Stake in Magnolia Oil & Gas Corp $MGY

New York State Teachers Retirement System lifted its position in Magnolia Oil & Gas Corp (NYSE:MGY) by 26.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,497 shares of the company’s stock after purchasing an additional 17,977 shares during the quarter. New York State Teachers Retirement System’s holdings in Magnolia Oil & Gas were worth $1,944,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in Magnolia Oil & Gas by 98.6% during the second quarter. GAMMA Investing LLC now owns 5,009 shares of the company’s stock worth $113,000 after acquiring an additional 2,487 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in Magnolia Oil & Gas by 34.3% during the first quarter. Smartleaf Asset Management LLC now owns 5,072 shares of the company’s stock worth $128,000 after acquiring an additional 1,295 shares in the last quarter. Pacer Advisors Inc. acquired a new position in Magnolia Oil & Gas during the first quarter worth $136,000. State of Wyoming raised its stake in Magnolia Oil & Gas by 8.2% during the first quarter. State of Wyoming now owns 5,777 shares of the company’s stock worth $146,000 after acquiring an additional 440 shares in the last quarter. Finally, Bayforest Capital Ltd raised its stake in Magnolia Oil & Gas by 50.2% during the first quarter. Bayforest Capital Ltd now owns 7,960 shares of the company’s stock worth $201,000 after acquiring an additional 2,661 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MGY has been the subject of several recent analyst reports. KeyCorp set a $29.00 price objective on Magnolia Oil & Gas and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Weiss Ratings restated a “hold (c)” rating on shares of Magnolia Oil & Gas in a research note on Wednesday, October 8th. Mizuho lowered their target price on Magnolia Oil & Gas from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Monday, September 15th. William Blair assumed coverage on Magnolia Oil & Gas in a research note on Monday, August 25th. They issued an “outperform” rating for the company. Finally, Piper Sandler raised their target price on Magnolia Oil & Gas from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $26.33.

Magnolia Oil & Gas Stock Performance

Shares of NYSE:MGY opened at $22.78 on Wednesday. The business has a fifty day moving average of $23.92 and a 200-day moving average of $22.99. The firm has a market cap of $4.35 billion, a PE ratio of 11.92, a price-to-earnings-growth ratio of 3.07 and a beta of 1.24. Magnolia Oil & Gas Corp has a twelve month low of $19.09 and a twelve month high of $29.02. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.44 and a current ratio of 1.44.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.03. The business had revenue of $318.98 million for the quarter, compared to analysts’ expectations of $311.58 million. Magnolia Oil & Gas had a return on equity of 19.34% and a net margin of 27.57%.The firm’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.51 earnings per share. On average, equities research analysts predict that Magnolia Oil & Gas Corp will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 11th were issued a $0.15 dividend. The ex-dividend date was Monday, August 11th. This represents a $0.60 annualized dividend and a yield of 2.6%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 31.41%.

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.