Principal Financial Group Inc. Purchases 184,793 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Principal Financial Group Inc. boosted its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 10.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,015,960 shares of the company’s stock after acquiring an additional 184,793 shares during the quarter. Principal Financial Group Inc.’s holdings in Magnolia Oil & Gas were worth $49,238,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. bought a new position in shares of Magnolia Oil & Gas during the 3rd quarter valued at $25,000. First Horizon Advisors Inc. raised 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 in the last quarter. GAMMA Investing LLC lifted its position in shares of Magnolia Oil & Gas by 62.4% in the third quarter. GAMMA Investing LLC now owns 2,609 shares of the company’s stock worth $64,000 after buying an additional 1,002 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Magnolia Oil & Gas by 61.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,850 shares of the company’s stock worth $72,000 after acquiring an additional 1,090 shares in the last quarter. Finally, Covestor Ltd increased its holdings in shares of Magnolia Oil & Gas by 36.8% during the 3rd quarter. Covestor Ltd now owns 2,986 shares of the company’s stock valued at $73,000 after acquiring an additional 804 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Magnolia Oil & Gas Trading Down 1.1 %

Shares of Magnolia Oil & Gas stock opened at $22.89 on Monday. The company’s fifty day moving average price is $26.31 and its two-hundred day moving average price is $25.61. The firm has a market capitalization of $4.50 billion, a PE ratio of 11.33, a price-to-earnings-growth ratio of 1.29 and a beta of 1.99. Magnolia Oil & Gas Co. has a 52-week low of $19.16 and a 52-week high of $29.02. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.47 and a quick ratio of 1.47.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.04. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.78%. The firm had revenue of $333.14 million during the quarter, compared to analyst estimates of $331.45 million. On average, analysts expect that Magnolia Oil & Gas Co. will post 2 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were paid a dividend of $0.13 per share. The ex-dividend date was Friday, November 8th. This represents a $0.52 annualized dividend and a yield of 2.27%. Magnolia Oil & Gas’s dividend payout ratio is currently 25.74%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. reduced their target price on Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Susquehanna decreased their price objective on shares of Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Benchmark reiterated a “hold” rating on shares of Magnolia Oil & Gas in a report on Tuesday, October 15th. Siebert Williams Shank cut shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a report on Tuesday, October 15th. Finally, Wells Fargo & Company cut Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $26.00 to $22.00 in a research report on Tuesday, October 1st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $27.58.

Magnolia Oil & Gas Company Profile

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.