KLP Kapitalforvaltning AS Has $1.13 Million Position in Magnolia Oil & Gas Corp (NYSE:MGY)

KLP Kapitalforvaltning AS cut its holdings in Magnolia Oil & Gas Corp (NYSE:MGY) by 5.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 44,600 shares of the company’s stock after selling 2,700 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Magnolia Oil & Gas were worth $1,127,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Magnolia Oil & Gas in the 1st quarter valued at $5,774,000. Y Intercept Hong Kong Ltd bought a new stake in Magnolia Oil & Gas in the first quarter valued at about $614,000. Choreo LLC acquired a new position in Magnolia Oil & Gas in the first quarter valued at about $272,000. Gallacher Capital Management LLC bought a new position in Magnolia Oil & Gas during the first quarter worth about $549,000. Finally, IFP Advisors Inc grew its position in shares of Magnolia Oil & Gas by 13.5% during the 1st quarter. IFP Advisors Inc now owns 12,930 shares of the company’s stock worth $328,000 after buying an additional 1,540 shares during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Performance

MGY opened at $23.75 on Monday. The company has a market capitalization of $4.57 billion, a price-to-earnings ratio of 11.81, a P/E/G ratio of 3.10 and a beta of 1.28. The business’s 50-day moving average price is $23.00 and its two-hundred day moving average price is $23.14. Magnolia Oil & Gas Corp has a 1 year low of $19.09 and a 1 year high of $29.02. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.33 and a quick ratio of 1.33.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Wednesday, April 30th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The business had revenue of $350.30 million for the quarter, compared to analyst estimates of $337.83 million. Magnolia Oil & Gas had a return on equity of 20.73% and a net margin of 28.50%. Magnolia Oil & Gas’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.46 EPS. Equities analysts expect that Magnolia Oil & Gas Corp will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 12th were issued a $0.15 dividend. The ex-dividend date was Monday, May 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.53%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 29.85%.

Analyst Ratings Changes

A number of brokerages recently weighed in on MGY. UBS Group reiterated a “buy” rating and issued a $29.00 price target (up from $26.00) on shares of Magnolia Oil & Gas in a research report on Friday, June 13th. Susquehanna reduced their price target on shares of Magnolia Oil & Gas from $31.00 to $30.00 and set a “positive” rating on the stock in a research report on Tuesday, April 22nd. Wells Fargo & Company decreased their price target on shares of Magnolia Oil & Gas from $22.00 to $21.00 and set an “underweight” rating for the company in a report on Monday, June 16th. Citigroup reaffirmed a “sell” rating on shares of Magnolia Oil & Gas in a research note on Thursday, July 10th. Finally, Bank of America boosted their target price on Magnolia Oil & Gas from $23.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, May 23rd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Magnolia Oil & Gas presently has an average rating of “Hold” and a consensus price target of $26.67.

Magnolia Oil & Gas 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.