New York State Teachers Retirement System Grows Stock Position in Magnolia Oil & Gas Co. (NYSE:MGY)

New York State Teachers Retirement System boosted its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 7.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,120 shares of the company’s stock after acquiring an additional 4,583 shares during the quarter. New York State Teachers Retirement System’s holdings in Magnolia Oil & Gas were worth $1,616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Harbor Capital Advisors Inc. purchased a new stake in Magnolia Oil & Gas in the 3rd quarter worth approximately $25,000. First Horizon Advisors Inc. lifted its stake in Magnolia Oil & Gas by 64.7% in the third quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock worth $25,000 after acquiring an additional 396 shares during the period. Mather Group LLC. boosted its holdings in Magnolia Oil & Gas by 100.0% in the fourth quarter. Mather Group LLC. now owns 1,090 shares of the company’s stock valued at $25,000 after acquiring an additional 545 shares in the last quarter. R Squared Ltd bought a new stake in Magnolia Oil & Gas in the fourth quarter valued at $43,000. Finally, Avior Wealth Management LLC increased its position in Magnolia Oil & Gas by 30.0% during 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 period. 94.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Mizuho lifted 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. Johnson Rice cut Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, January 28th. The Goldman Sachs Group lowered Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $27.00 to $26.00 in a research report on Friday, January 31st. Piper Sandler lifted their price objective on Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Finally, Truist Financial increased their target price on Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $27.58.

Magnolia Oil & Gas Trading Down 2.3 %

MGY opened at $24.04 on Friday. The firm has a market cap of $4.72 billion, a price-to-earnings ratio of 12.45, a price-to-earnings-growth ratio of 3.01 and a beta of 1.98. Magnolia Oil & Gas Co. has a 52 week low of $21.49 and a 52 week high of $29.02. The business’s 50 day moving average is $24.22 and its two-hundred day moving average is $25.23. 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 (NYSE:MGY) last announced its earnings results on Tuesday, February 18th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.03. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. The company had revenue of $326.61 million for the quarter, compared to the consensus estimate of $327.40 million. On average, research analysts predict that Magnolia Oil & Gas Co. will post 2.1 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be given a $0.15 dividend. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Friday, February 14th. Magnolia Oil & Gas’s dividend payout ratio is currently 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.