Magnolia Oil & Gas Co. (NYSE:MGY) Shares Purchased by New York State Teachers Retirement System

New York State Teachers Retirement System raised its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 7.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 69,120 shares of the company’s stock after buying an additional 4,583 shares during the period. New York State Teachers Retirement System’s holdings in Magnolia Oil & Gas were worth $1,616,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Soros Fund Management LLC bought a new position in Magnolia Oil & Gas during the 3rd quarter worth approximately $18,120,000. Barclays PLC lifted its holdings in Magnolia Oil & Gas by 62.5% during the 3rd quarter. Barclays PLC now owns 1,653,736 shares of the company’s stock worth $40,383,000 after buying an additional 636,049 shares during the last quarter. State Street Corp lifted its holdings in Magnolia Oil & Gas by 4.2% during the 3rd quarter. State Street Corp now owns 10,700,257 shares of the company’s stock worth $261,300,000 after buying an additional 435,326 shares during the last quarter. Centiva Capital LP lifted its holdings in Magnolia Oil & Gas by 767.6% during the 3rd quarter. Centiva Capital LP now owns 487,148 shares of the company’s stock worth $11,896,000 after buying an additional 430,996 shares during the last quarter. Finally, Vest Financial LLC lifted its holdings in Magnolia Oil & Gas by 39.0% during the 4th quarter. Vest Financial LLC now owns 1,521,004 shares of the company’s stock worth $35,561,000 after buying an additional 426,572 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Bank of America reissued a “neutral” rating and issued a $28.00 price target (down previously from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. Mizuho raised their price target on Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. Johnson Rice downgraded Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Truist Financial lifted their target price on Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Finally, Piper Sandler lifted their target price 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. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, Magnolia Oil & Gas currently has a consensus rating of “Hold” and an average target price of $27.58.

Magnolia Oil & Gas Stock Performance

Shares of NYSE:MGY opened at $24.04 on Friday. The company’s 50 day simple moving average is $24.22 and its 200 day simple moving average is $25.23. The stock has a market capitalization 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. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 1.47. Magnolia Oil & Gas Co. has a 1 year low of $21.49 and a 1 year high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. The company had revenue of $326.61 million for the quarter, compared to analyst estimates of $327.40 million. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. As a group, research analysts predict that Magnolia Oil & Gas Co. will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

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