New York State Teachers Retirement System Purchases 17,977 Shares of Magnolia Oil & Gas Corp $MGY

New York State Teachers Retirement System lifted its position in Magnolia Oil & Gas Corp (NYSE:MGY) by 26.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 86,497 shares of the company’s stock after buying an additional 17,977 shares during the quarter. New York State Teachers Retirement System’s holdings in Magnolia Oil & Gas were worth $1,944,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. American Century Companies Inc. grew its stake in shares of Magnolia Oil & Gas by 5.7% in the 1st quarter. American Century Companies Inc. now owns 10,502,353 shares of the company’s stock valued at $265,289,000 after buying an additional 562,223 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Magnolia Oil & Gas by 12.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,365,892 shares of the company’s stock valued at $135,541,000 after buying an additional 597,845 shares in the last quarter. Boston Trust Walden Corp grew its stake in shares of Magnolia Oil & Gas by 26.0% in the 2nd quarter. Boston Trust Walden Corp now owns 4,003,770 shares of the company’s stock valued at $90,005,000 after buying an additional 825,162 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Magnolia Oil & Gas by 4.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,307,951 shares of the company’s stock valued at $75,454,000 after buying an additional 132,564 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Magnolia Oil & Gas by 5.2% in the 1st quarter. Principal Financial Group Inc. now owns 2,427,952 shares of the company’s stock valued at $61,330,000 after buying an additional 119,127 shares in the last quarter. Institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Down 0.7%

Shares of MGY stock opened at $22.78 on Wednesday. Magnolia Oil & Gas Corp has a 12 month low of $19.09 and a 12 month high of $29.02. The firm has a market cap of $4.35 billion, a PE ratio of 11.92, a price-to-earnings-growth ratio of 3.07 and a beta of 1.24. The stock has a 50 day moving average of $23.92 and a 200-day moving average of $22.99. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. The company had revenue of $318.98 million during the quarter, compared to analyst estimates of $311.58 million. Magnolia Oil & Gas had a return on equity of 19.34% and a net margin of 27.57%.The company’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.51 earnings per share. On average, equities analysts predict that Magnolia Oil & Gas Corp will post 2.1 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 11th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Monday, August 11th. Magnolia Oil & Gas’s dividend payout ratio is presently 31.41%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MGY. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Magnolia Oil & Gas in a research report on Wednesday, October 8th. KeyCorp set a $29.00 target price on Magnolia Oil & Gas and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. William Blair began coverage on Magnolia Oil & Gas in a research report on Monday, August 25th. They set an “outperform” rating for the company. Piper Sandler upped their target price on Magnolia Oil & Gas from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. Finally, Mizuho decreased their target price on Magnolia Oil & Gas from $26.00 to $25.00 and set a “neutral” rating for the company in a research report on Monday, September 15th. Five equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $26.33.

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.