Louisiana State Employees Retirement System Invests $2.53 Million in Magnolia Oil & Gas Corp $MGY

Louisiana State Employees Retirement System bought a new position in shares of Magnolia Oil & Gas Corp (NYSE:MGY) in the 1st quarter, Holdings Channel.com reports. The institutional investor bought 80,200 shares of the company’s stock, valued at approximately $2,532,000.

Other institutional investors have also bought and sold shares of the company. State Street Corp boosted its stake in Magnolia Oil & Gas by 1.4% in the 4th quarter. State Street Corp now owns 8,800,807 shares of the company’s stock valued at $192,650,000 after buying an additional 125,707 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Magnolia Oil & Gas by 4.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,634,362 shares of the company’s stock worth $145,230,000 after acquiring an additional 264,649 shares in the last quarter. TD Asset Management Inc lifted its holdings in shares of Magnolia Oil & Gas by 26.6% during the fourth quarter. TD Asset Management Inc now owns 5,671,819 shares of the company’s stock valued at $124,156,000 after acquiring an additional 1,193,458 shares during the period. Epoch Investment Partners Inc. lifted its holdings in shares of Magnolia Oil & Gas by 28.8% during the fourth quarter. Epoch Investment Partners Inc. now owns 5,330,064 shares of the company’s stock valued at $116,675,000 after acquiring an additional 1,191,438 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in shares of Magnolia Oil & Gas by 2.2% during the third quarter. Wellington Management Group LLP now owns 5,225,168 shares of the company’s stock valued at $124,725,000 after acquiring an additional 113,458 shares during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. KeyCorp reaffirmed an “overweight” rating on shares of Magnolia Oil & Gas in a report on Monday. Siebert Williams Shank downgraded shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating in a report on Friday, March 6th. Weiss Ratings lowered shares of Magnolia Oil & Gas from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 21st. Mizuho upped their price objective on shares of Magnolia Oil & Gas from $33.00 to $35.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Finally, Wells Fargo & Company cut their price target on Magnolia Oil & Gas from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 13th. Eight research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $31.33.

Magnolia Oil & Gas Stock Performance

Shares of MGY stock opened at $25.74 on Tuesday. The stock has a market cap of $4.76 billion, a PE ratio of 14.97 and a beta of 0.71. The stock has a 50-day moving average of $28.22 and a 200-day moving average of $26.95. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.10 and a quick ratio of 1.10. Magnolia Oil & Gas Corp has a one year low of $21.07 and a one year high of $32.76.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. The business had revenue of $358.51 million for the quarter, compared to analyst estimates of $349.89 million. Magnolia Oil & Gas had a net margin of 24.40% and a return on equity of 16.28%. Magnolia Oil & Gas’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.54 EPS. As a group, sell-side analysts expect that Magnolia Oil & Gas Corp will post 2.83 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th were issued a $0.165 dividend. The ex-dividend date was Tuesday, May 12th. This represents a $0.66 annualized dividend and a yield of 2.6%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 38.37%.

Magnolia Oil & Gas Profile

Magnolia Oil & Gas Corp (NYSE: MGY) is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties.

The company’s core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs).