Thrivent Financial for Lutherans Decreases Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Thrivent Financial for Lutherans decreased its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 10.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 557,975 shares of the company’s stock after selling 65,363 shares during the period. Thrivent Financial for Lutherans owned 0.28% of Magnolia Oil & Gas worth $14,139,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MGY. Massmutual Trust Co. FSB ADV lifted its position in Magnolia Oil & Gas by 1,753.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,038 shares of the company’s stock valued at $26,000 after acquiring an additional 982 shares during the last quarter. Opal Wealth Advisors LLC purchased a new stake in Magnolia Oil & Gas during the second quarter valued at approximately $26,000. Mather Group LLC. acquired a new position in Magnolia Oil & Gas during the 1st quarter valued at approximately $27,000. GAMMA Investing LLC increased its stake in Magnolia Oil & Gas by 184.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock valued at $41,000 after purchasing an additional 1,042 shares in the last quarter. Finally, Lindbrook Capital LLC increased its stake in Magnolia Oil & Gas by 61.5% during the 1st quarter. Lindbrook Capital LLC now owns 1,647 shares of the company’s stock valued at $43,000 after purchasing an additional 627 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Performance

Shares of NYSE MGY opened at $25.58 on Wednesday. The company’s fifty day moving average price is $25.11 and its 200 day moving average price is $25.31. Magnolia Oil & Gas Co. has a 1 year low of $19.16 and a 1 year high of $27.63. The company has a market capitalization of $5.19 billion, a PE ratio of 12.73, a price-to-earnings-growth ratio of 1.18 and a beta of 2.00. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.28 and a current ratio of 1.28.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. Magnolia Oil & Gas had a net margin of 29.44% and a return on equity of 21.18%. The firm had revenue of $336.73 million for the quarter, compared to the consensus estimate of $340.72 million. On average, research analysts predict that Magnolia Oil & Gas Co. will post 2.08 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend was Friday, August 9th. Magnolia Oil & Gas’s payout ratio is 25.87%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Bank of America upped their price target on shares of Magnolia Oil & Gas from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Capital One Financial assumed coverage on shares of Magnolia Oil & Gas in a research note on Tuesday, June 11th. They set an “overweight” rating and a $28.00 price target on the stock. Benchmark restated a “hold” rating on shares of Magnolia Oil & Gas in a research note on Thursday, July 18th. Susquehanna cut their price target on shares of Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Finally, Wells Fargo & Company cut their price target on shares of Magnolia Oil & Gas from $27.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $28.00.

Magnolia Oil & Gas 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.