Teachers Retirement System of The State of Kentucky Raises Stock Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Teachers Retirement System of The State of Kentucky boosted its position in Magnolia Oil & Gas Co. (NYSE:MGYGet Rating) by 2.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,308 shares of the company’s stock after buying an additional 3,230 shares during the quarter. Teachers Retirement System of The State of Kentucky owned approximately 0.05% of Magnolia Oil & Gas worth $2,869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of MGY. NN Investment Partners Holdings N.V. purchased a new stake in Magnolia Oil & Gas in the first quarter worth approximately $54,000. Newbridge Financial Services Group Inc. lifted its position in Magnolia Oil & Gas by 1,748.0% in the first quarter. Newbridge Financial Services Group Inc. now owns 2,310 shares of the company’s stock valued at $55,000 after purchasing an additional 2,185 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new stake in Magnolia Oil & Gas in the first quarter valued at approximately $64,000. Ahrens Investment Partners LLC bought a new stake in Magnolia Oil & Gas in the first quarter valued at approximately $77,000. Finally, Captrust Financial Advisors lifted its position in Magnolia Oil & Gas by 42.4% in the first quarter. Captrust Financial Advisors now owns 3,608 shares of the company’s stock valued at $85,000 after purchasing an additional 1,075 shares during the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Analysts Set New Price Targets

MGY has been the subject of several recent research reports. Wells Fargo & Company boosted their price objective on Magnolia Oil & Gas from $29.00 to $30.00 and gave the company an “equal weight” rating in a research report on Monday, July 11th. MKM Partners restated a “buy” rating and set a $26.00 target price on shares of Magnolia Oil & Gas in a report on Wednesday, July 20th. Truist Financial upped their target price on Magnolia Oil & Gas from $35.00 to $39.00 and gave the company a “buy” rating in a report on Tuesday, July 19th. Finally, KeyCorp assumed coverage on Magnolia Oil & Gas in a report on Monday. They set an “overweight” rating for the company. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Magnolia Oil & Gas currently has a consensus rating of “Moderate Buy” and an average price target of $28.56.

Magnolia Oil & Gas Price Performance

MGY opened at $22.46 on Tuesday. The stock has a fifty day simple moving average of $22.79 and a two-hundred day simple moving average of $23.80. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 0.31. The company has a market cap of $4.89 billion, a price-to-earnings ratio of 6.05 and a beta of 2.10. Magnolia Oil & Gas Co. has a 12-month low of $15.71 and a 12-month high of $30.31.

Magnolia Oil & Gas (NYSE:MGYGet Rating) last released its earnings results on Tuesday, August 2nd. The company reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.08). Magnolia Oil & Gas had a return on equity of 63.23% and a net margin of 46.42%. The company had revenue of $484.65 million during the quarter, compared to analysts’ expectations of $459.13 million. Research analysts predict that Magnolia Oil & Gas Co. will post 4.78 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Friday, August 12th were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.78%. Magnolia Oil & Gas’s dividend payout ratio is currently 5.39%.

Magnolia Oil & Gas Profile

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Magnolia Oil & Gas Corporation engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. Its properties are located primarily in Karnes County and the Giddings Field in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.

Further Reading

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Institutional Ownership by Quarter for Magnolia Oil & Gas (NYSE:MGY)

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