Teachers Retirement System of The State of Kentucky Trims Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Teachers Retirement System of The State of Kentucky trimmed its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 8.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 117,606 shares of the company’s stock after selling 10,880 shares during the period. Teachers Retirement System of The State of Kentucky owned 0.06% of Magnolia Oil & Gas worth $2,504,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of MGY. Albert D Mason Inc. grew its holdings in Magnolia Oil & Gas by 1.6% during the 4th quarter. Albert D Mason Inc. now owns 31,094 shares of the company’s stock valued at $662,000 after buying an additional 490 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in Magnolia Oil & Gas by 5.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,156 shares of the company’s stock valued at $280,000 after acquiring an additional 730 shares during the last quarter. VisionPoint Advisory Group LLC lifted its stake in Magnolia Oil & Gas by 112.3% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,537 shares of the company’s stock worth $35,000 after purchasing an additional 813 shares in the last quarter. Commerce Bank boosted its holdings in shares of Magnolia Oil & Gas by 4.0% during the 4th quarter. Commerce Bank now owns 24,820 shares of the company’s stock valued at $528,000 after purchasing an additional 945 shares during the last quarter. Finally, Signaturefd LLC grew its position in shares of Magnolia Oil & Gas by 11.9% during the fourth quarter. Signaturefd LLC now owns 9,313 shares of the company’s stock valued at $198,000 after purchasing an additional 988 shares in the last quarter. Institutional investors own 94.73% of the company’s stock.

Analyst Upgrades and Downgrades

MGY has been the topic of a number of research analyst reports. Benchmark reiterated a “hold” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, April 23rd. Capital One Financial started coverage on Magnolia Oil & Gas in a research report on Tuesday, June 11th. They set an “overweight” rating and a $28.00 target price for the company. Susquehanna boosted their price target on shares of Magnolia Oil & Gas from $28.00 to $31.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. The Goldman Sachs Group increased their price objective on shares of Magnolia Oil & Gas from $24.50 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, March 26th. Finally, Truist Financial lifted their price objective on shares of Magnolia Oil & Gas from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $28.11.

Insider Activity at Magnolia Oil & Gas

In other news, Director John B. Walker sold 12,000,000 shares of Magnolia Oil & Gas stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $25.58, for a total transaction of $306,960,000.00. Following the completion of the sale, the director now directly owns 4,164,961 shares in the company, valued at $106,539,702.38. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.20% of the stock is owned by company insiders.

Magnolia Oil & Gas Trading Up 1.2 %

Shares of MGY opened at $24.97 on Friday. The company’s fifty day simple moving average is $25.31 and its 200-day simple moving average is $23.33. The company has a market cap of $5.06 billion, a P/E ratio of 12.42, a P/E/G ratio of 1.38 and a beta of 2.00. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.21. Magnolia Oil & Gas Co. has a twelve month low of $19.16 and a twelve month high of $27.33.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.05. The company had revenue of $319.42 million for the quarter, compared to analyst estimates of $308.21 million. Magnolia Oil & Gas had a net margin of 30.46% and a return on equity of 20.41%. As a group, analysts expect that Magnolia Oil & Gas Co. will post 2.25 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 13th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend was Friday, May 10th. Magnolia Oil & Gas’s payout ratio is currently 25.87%.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corporation, an independent oil and natural gas company, 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 area in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.