Magnolia Oil & Gas Corp $MGY Stock Position Lifted by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System lifted its position in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 67.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 103,320 shares of the company’s stock after acquiring an additional 41,481 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Magnolia Oil & Gas were worth $2,323,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of MGY. Campbell & CO Investment Adviser LLC boosted its stake in Magnolia Oil & Gas by 325.0% in the second quarter. Campbell & CO Investment Adviser LLC now owns 214,211 shares of the company’s stock valued at $4,815,000 after acquiring an additional 163,804 shares during the period. Jane Street Group LLC increased its position in Magnolia Oil & Gas by 1,382.9% in the first quarter. Jane Street Group LLC now owns 1,059,335 shares of the company’s stock worth $26,759,000 after buying an additional 987,896 shares during the period. Phocas Financial Corp. increased its position in Magnolia Oil & Gas by 69.0% in the second quarter. Phocas Financial Corp. now owns 189,378 shares of the company’s stock worth $4,257,000 after buying an additional 77,327 shares during the period. American Century Companies Inc. lifted its stake in Magnolia Oil & Gas by 12.9% in the second quarter. American Century Companies Inc. now owns 11,861,231 shares of the company’s stock valued at $266,641,000 after buying an additional 1,358,878 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of Magnolia Oil & Gas by 1.0% during the second quarter. Nordea Investment Management AB now owns 444,636 shares of the company’s stock valued at $10,062,000 after acquiring an additional 4,372 shares during the period. Institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Performance

MGY opened at $23.59 on Friday. The business has a 50 day moving average price of $22.99 and a two-hundred day moving average price of $23.34. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.47 and a quick ratio of 1.47. The company has a market capitalization of $4.45 billion, a price-to-earnings ratio of 13.18, a price-to-earnings-growth ratio of 3.15 and a beta of 0.93. Magnolia Oil & Gas Corp has a 1-year low of $19.09 and a 1-year high of $26.84.

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

Magnolia Oil & Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 10th were given a dividend of $0.15 per share. The ex-dividend date was Monday, November 10th. This represents a $0.60 annualized dividend and a dividend yield of 2.5%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 33.52%.

Wall Street Analysts Forecast Growth

MGY has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Magnolia Oil & Gas in a report on Wednesday, October 8th. Piper Sandler cut their price target on Magnolia Oil & Gas from $25.00 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday, November 18th. Mizuho boosted their price objective on Magnolia Oil & Gas from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. KeyCorp set a $29.00 target price on Magnolia Oil & Gas and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Finally, William Blair assumed coverage on Magnolia Oil & Gas in a research note on Monday, August 25th. They set an “outperform” rating on the stock. Five equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $26.25.

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.