California Public Employees Retirement System Has $7.26 Million Position in Magnolia Oil & Gas Co. (NYSE:MGY)

California Public Employees Retirement System grew its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 3.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 341,172 shares of the company’s stock after purchasing an additional 10,965 shares during the quarter. California Public Employees Retirement System owned approximately 0.16% of Magnolia Oil & Gas worth $7,264,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its position in Magnolia Oil & Gas by 9.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,041,390 shares of the company’s stock worth $64,751,000 after buying an additional 274,908 shares during the period. Vest Financial LLC grew its stake in shares of Magnolia Oil & Gas by 51.4% in the fourth quarter. Vest Financial LLC now owns 606,277 shares of the company’s stock worth $12,908,000 after purchasing an additional 205,924 shares during the last quarter. VisionPoint Advisory Group LLC increased its holdings in Magnolia Oil & Gas by 112.3% in the third quarter. VisionPoint Advisory Group LLC now owns 1,537 shares of the company’s stock valued at $35,000 after purchasing an additional 813 shares during the period. Sei Investments Co. increased its holdings in Magnolia Oil & Gas by 6.2% in the third quarter. Sei Investments Co. now owns 818,397 shares of the company’s stock valued at $18,750,000 after purchasing an additional 47,564 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Magnolia Oil & Gas by 12.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,735,955 shares of the company’s stock worth $39,771,000 after purchasing an additional 195,467 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Citigroup increased their price target on Magnolia Oil & Gas from $18.00 to $22.00 and gave the company a “sell” rating in a research note on Monday, April 15th. Truist Financial raised their price target on shares of Magnolia Oil & Gas from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, February 16th. The Goldman Sachs Group upped their price objective on shares of Magnolia Oil & Gas from $24.50 to $28.00 and gave the company a “buy” rating in a research note on Tuesday, March 26th. Bank of America initiated coverage on shares of Magnolia Oil & Gas in a report on Tuesday, February 27th. They issued a “buy” rating and a $25.00 target price on the stock. Finally, Susquehanna lifted their price objective on Magnolia Oil & Gas from $28.00 to $31.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Magnolia Oil & Gas currently has an average rating of “Hold” and an average target price of $27.63.

Magnolia Oil & Gas Trading Up 0.8 %

NYSE MGY opened at $25.11 on Friday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.21. Magnolia Oil & Gas Co. has a 52 week low of $18.72 and a 52 week high of $27.33. The business has a 50 day moving average price of $25.04 and a 200-day moving average price of $22.60. The company has a market cap of $5.13 billion, a price-to-earnings ratio of 12.25, a P/E/G ratio of 1.49 and a beta of 2.03.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings results on Wednesday, February 14th. The company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.04). Magnolia Oil & Gas had a net margin of 31.65% and a return on equity of 21.21%. The business had revenue of $322.63 million for the quarter, compared to the consensus estimate of $324.95 million. As a group, equities analysts expect that Magnolia Oil & Gas Co. will post 2.11 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 13th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Friday, May 10th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.07%. Magnolia Oil & Gas’s dividend payout ratio is presently 25.37%.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corporation, an independent oil and natural gas company, 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 area in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.