The Manufacturers Life Insurance Company Has $24.20 Million Stock Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

The Manufacturers Life Insurance Company raised its stake in Magnolia Oil & Gas Co. (NYSE:MGYGet Rating) by 24.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,221,654 shares of the company’s stock after purchasing an additional 238,026 shares during the period. The Manufacturers Life Insurance Company owned 0.56% of Magnolia Oil & Gas worth $24,201,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Bank of Montreal Can boosted its holdings in shares of Magnolia Oil & Gas by 2.4% during the 2nd quarter. Bank of Montreal Can now owns 20,230 shares of the company’s stock worth $463,000 after buying an additional 473 shares during the period. Hsbc Holdings PLC increased its stake in shares of Magnolia Oil & Gas by 4.7% during the first quarter. Hsbc Holdings PLC now owns 12,112 shares of the company’s stock worth $293,000 after purchasing an additional 539 shares during the period. Ellevest Inc. lifted its holdings in Magnolia Oil & Gas by 2.5% during the 3rd quarter. Ellevest Inc. now owns 25,284 shares of the company’s stock worth $501,000 after purchasing an additional 612 shares during the last quarter. CWM LLC boosted its stake in Magnolia Oil & Gas by 60.6% in the 3rd quarter. CWM LLC now owns 1,635 shares of the company’s stock valued at $32,000 after purchasing an additional 617 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its stake in Magnolia Oil & Gas by 3.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 21,240 shares of the company’s stock valued at $502,000 after purchasing an additional 673 shares during the period. 98.60% of the stock is owned by institutional investors.

Magnolia Oil & Gas Price Performance

MGY stock opened at $23.30 on Wednesday. The company’s 50-day moving average price is $23.88 and its two-hundred day moving average price is $23.37. Magnolia Oil & Gas Co. has a 12 month low of $18.01 and a 12 month high of $30.31. The company has a quick ratio of 2.63, a current ratio of 2.63 and a debt-to-equity ratio of 0.27. The firm has a market cap of $5.04 billion, a P/E ratio of 5.38 and a beta of 2.13.

Magnolia Oil & Gas (NYSE:MGYGet Rating) last posted its earnings results on Tuesday, November 1st. The company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.11. The firm had revenue of $482.96 million during the quarter, compared to analysts’ expectations of $454.87 million. Magnolia Oil & Gas had a net margin of 48.42% and a return on equity of 66.39%. On average, analysts anticipate that Magnolia Oil & Gas Co. will post 4.48 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 Thursday, December 1st. Investors of record on Monday, November 7th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.72%. The ex-dividend date was Friday, November 4th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 9.24%.

Analysts Set New Price Targets

Several research analysts have weighed in on MGY shares. Mizuho initiated coverage on Magnolia Oil & Gas in a research report on Monday, January 9th. They set a “buy” rating and a $32.00 price objective on the stock. TheStreet cut shares of Magnolia Oil & Gas from a “b-” rating to a “c+” rating in a research note on Wednesday, December 7th. KeyCorp boosted their price objective on shares of Magnolia Oil & Gas from $28.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, November 3rd. Finally, Piper Sandler lowered their target price on shares of Magnolia Oil & Gas from $36.00 to $35.00 and set an “overweight” rating on the stock in a report on Wednesday, January 11th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $31.25.

Magnolia Oil & Gas Profile

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Magnolia Oil & Gas Corporation 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 Field in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.

See Also

Institutional Ownership by Quarter for Magnolia Oil & Gas (NYSE:MGY)

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