Ensign Peak Advisors Inc Reduces Stock Holdings in Magnolia Oil & Gas Corp $MGY

Ensign Peak Advisors Inc lessened its holdings in Magnolia Oil & Gas Corp (NYSE:MGY) by 69.0% during the 2nd quarter, Holdings Channel reports. The firm owned 51,959 shares of the company’s stock after selling 115,414 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Magnolia Oil & Gas were worth $1,168,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in MGY. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in shares of Magnolia Oil & Gas by 11.3% during the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 254,472 shares of the company’s stock worth $5,721,000 after buying an additional 25,882 shares during the last quarter. Intech Investment Management LLC grew its stake in shares of Magnolia Oil & Gas by 16.3% during the second quarter. Intech Investment Management LLC now owns 80,021 shares of the company’s stock valued at $1,799,000 after acquiring an additional 11,207 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Magnolia Oil & Gas by 157.6% in the second quarter. SG Americas Securities LLC now owns 22,677 shares of the company’s stock valued at $510,000 after purchasing an additional 13,874 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Magnolia Oil & Gas by 5.0% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 47,997 shares of the company’s stock valued at $1,079,000 after acquiring an additional 2,281 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey grew its stake in Magnolia Oil & Gas by 14.0% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 42,032 shares of the company’s stock worth $945,000 after purchasing an additional 5,156 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Magnolia Oil & Gas Stock Up 0.9%

Shares of MGY opened at $23.14 on Friday. The stock has a market cap of $4.37 billion, a price-to-earnings ratio of 12.92, a P/E/G ratio of 3.08 and a beta of 1.18. The company has a 50-day moving average price of $23.12 and a two-hundred day moving average price of $23.32. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas Corp has a 12 month low of $19.09 and a 12 month high of $27.90.

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

Magnolia Oil & Gas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 10th will be issued a $0.15 dividend. The ex-dividend date is Monday, November 10th. This represents a $0.60 annualized dividend and a yield of 2.6%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 33.52%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MGY. KeyCorp set a $29.00 price objective on shares of Magnolia Oil & Gas and gave the company an “overweight” rating in a research report on Wednesday, October 15th. William Blair initiated coverage on shares of Magnolia Oil & Gas in a research note on Monday, August 25th. They issued an “outperform” rating on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Magnolia Oil & Gas in a research report on Wednesday, October 8th. Piper Sandler reduced their price target on shares of Magnolia Oil & Gas from $25.00 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, November 18th. Finally, Mizuho raised their price objective on shares of Magnolia Oil & Gas from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Five equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $26.25.

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.