Oregon Public Employees Retirement Fund Raises Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Oregon Public Employees Retirement Fund boosted its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 1.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,941 shares of the company’s stock after buying an additional 660 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Magnolia Oil & Gas were worth $1,051,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of MGY. Harbor Capital Advisors Inc. purchased a new position in Magnolia Oil & Gas during the third quarter valued at approximately $25,000. First Horizon Advisors Inc. increased its holdings in Magnolia Oil & Gas by 64.7% during the third quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock valued at $25,000 after buying an additional 396 shares during the period. Mather Group LLC. increased its holdings in Magnolia Oil & Gas by 100.0% during the fourth quarter. Mather Group LLC. now owns 1,090 shares of the company’s stock valued at $25,000 after buying an additional 545 shares during the period. R Squared Ltd purchased a new position in Magnolia Oil & Gas during the fourth quarter valued at approximately $43,000. Finally, Avior Wealth Management LLC increased its holdings in Magnolia Oil & Gas by 30.0% during the fourth quarter. Avior Wealth Management LLC now owns 2,194 shares of the company’s stock valued at $51,000 after buying an additional 506 shares during the period. 94.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MGY. Johnson Rice lowered shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a report on Tuesday, January 28th. Truist Financial lifted their price target on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Bank of America reaffirmed a “neutral” rating and issued a $28.00 price target (down from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. The Goldman Sachs Group lowered shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and cut their price target for the stock from $27.00 to $26.00 in a report on Friday, January 31st. Finally, Mizuho lifted their price target on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $27.58.

Magnolia Oil & Gas Price Performance

Shares of MGY opened at $23.40 on Friday. The firm has a market capitalization of $4.60 billion, a PE ratio of 12.12, a price-to-earnings-growth ratio of 3.01 and a beta of 1.98. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 1.47. Magnolia Oil & Gas Co. has a 1-year low of $22.37 and a 1-year high of $29.02. The company’s fifty day moving average price is $24.20 and its 200-day moving average price is $25.20.

Magnolia Oil & Gas (NYSE:MGY) last posted its earnings results on Tuesday, February 18th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. The company had revenue of $326.61 million during the quarter, compared to the consensus estimate of $327.40 million. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. On average, equities research analysts predict that Magnolia Oil & Gas Co. will post 2.1 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, February 14th. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a yield of 2.56%. Magnolia Oil & Gas’s payout ratio is currently 31.09%.

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.