Magnolia Oil & Gas Corp $MGY Stake Increased by Police & Firemen s Retirement System of New Jersey

Police & Firemen s Retirement System of New Jersey raised its stake in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 14.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,032 shares of the company’s stock after acquiring an additional 5,156 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Magnolia Oil & Gas were worth $945,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in shares of Magnolia Oil & Gas by 5.6% in the 2nd quarter. Geode Capital Management LLC now owns 4,531,855 shares of the company’s stock valued at $101,895,000 after purchasing an additional 238,356 shares in the last quarter. TimesSquare Capital Management LLC grew its stake in Magnolia Oil & Gas by 1.9% in the second quarter. TimesSquare Capital Management LLC now owns 691,959 shares of the company’s stock worth $15,555,000 after purchasing an additional 12,638 shares in the last quarter. Illinois Municipal Retirement Fund increased its holdings in Magnolia Oil & Gas by 74.6% in the second quarter. Illinois Municipal Retirement Fund now owns 168,524 shares of the company’s stock valued at $3,788,000 after buying an additional 72,016 shares during the last quarter. ProShare Advisors LLC raised its stake in Magnolia Oil & Gas by 1.2% during the second quarter. ProShare Advisors LLC now owns 41,617 shares of the company’s stock valued at $936,000 after buying an additional 495 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC raised its stake in Magnolia Oil & Gas by 325.0% during the second quarter. Campbell & CO Investment Adviser LLC now owns 214,211 shares of the company’s stock valued at $4,815,000 after buying an additional 163,804 shares in the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MGY. William Blair started coverage on Magnolia Oil & Gas in a research report on Monday, August 25th. They issued an “outperform” rating for the company. Weiss Ratings restated a “hold (c)” rating on shares of Magnolia Oil & Gas in a research note on Wednesday, October 8th. Piper Sandler lowered their target price on shares of Magnolia Oil & Gas from $25.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, November 18th. Mizuho increased their target price on shares of Magnolia Oil & Gas from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Finally, KeyCorp set a $29.00 price target on shares of Magnolia Oil & Gas and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $26.25.

Magnolia Oil & Gas Trading Up 2.1%

NYSE:MGY opened at $22.83 on Friday. The firm has a market capitalization of $4.31 billion, a P/E ratio of 12.75, a P/E/G ratio of 3.09 and a beta of 1.18. The business has a 50 day simple moving average of $23.25 and a 200 day simple moving average of $23.29. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.47 and a quick ratio of 1.47. Magnolia Oil & Gas Corp has a 12-month low of $19.09 and a 12-month high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last posted its earnings results on Wednesday, October 29th. The company reported $0.41 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.41. Magnolia Oil & Gas had a return on equity of 18.10% and a net margin of 25.90%.The company had revenue of $324.94 million for the quarter, compared to analysts’ expectations of $322.52 million. During the same period last year, the business posted $0.52 earnings per share. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. Equities research analysts predict that Magnolia Oil & Gas Corp will post 2.1 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 10th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Monday, November 10th. Magnolia Oil & Gas’s payout ratio is presently 33.52%.

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.