Maryland State Retirement & Pension System Makes New $1.72 Million Investment in Magnolia Oil & Gas Co. (NYSE:MGY)

Maryland State Retirement & Pension System bought a new position in Magnolia Oil & Gas Co. (NYSE:MGY) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 66,743 shares of the company’s stock, valued at approximately $1,721,000.

Other large investors also recently modified their holdings of the company. Mather Group LLC. acquired a new position in Magnolia Oil & Gas in the first quarter valued at about $27,000. Private Wealth Management Group LLC acquired a new position in shares of Magnolia Oil & Gas in the 4th quarter valued at $33,000. VisionPoint Advisory Group LLC raised its stake in Magnolia Oil & Gas by 112.3% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,537 shares of the company’s stock worth $35,000 after buying an additional 813 shares during the period. Quadrant Capital Group LLC lifted its holdings in shares of Magnolia Oil & Gas by 40.4% during the 4th quarter. Quadrant Capital Group LLC now owns 4,623 shares of the company’s stock valued at $98,000 after purchasing an additional 1,331 shares in the last quarter. Finally, Arlington Trust Co LLC acquired a new stake in Magnolia Oil & Gas during the 4th quarter worth approximately $113,000. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MGY. Capital One Financial started coverage on shares of Magnolia Oil & Gas in a report on Tuesday, June 11th. They issued an “overweight” rating and a $28.00 price target for the company. Wells Fargo & Company lifted their price target on Magnolia Oil & Gas from $23.00 to $27.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. Citigroup upped their price objective on Magnolia Oil & Gas from $18.00 to $22.00 and gave the stock a “sell” rating in a research report on Monday, April 15th. Mizuho boosted their target price on Magnolia Oil & Gas from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. Finally, Benchmark reaffirmed a “hold” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Magnolia Oil & Gas currently has a consensus rating of “Hold” and an average price target of $28.11.

Insiders Place Their Bets

In other news, Director John B. Walker sold 12,000,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $25.58, for a total transaction of $306,960,000.00. Following the completion of the sale, the director now owns 4,164,961 shares in the company, valued at approximately $106,539,702.38. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.40% of the company’s stock.

Magnolia Oil & Gas Stock Performance

MGY stock traded down $0.50 during trading hours on Friday, reaching $25.49. The stock had a trading volume of 125,421 shares, compared to its average volume of 2,844,936. The stock has a 50-day simple moving average of $25.20 and a 200 day simple moving average of $23.64. Magnolia Oil & Gas Co. has a fifty-two week low of $19.16 and a fifty-two week high of $27.33. The stock has a market capitalization of $5.17 billion, a PE ratio of 12.93, a price-to-earnings-growth ratio of 1.45 and a beta of 2.02. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.71 and a quick ratio of 1.71.

Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results on Tuesday, May 7th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.05. Magnolia Oil & Gas had a net margin of 30.46% and a return on equity of 20.41%. The business had revenue of $319.42 million during the quarter, compared to the consensus estimate of $308.21 million. Analysts predict that Magnolia Oil & Gas Co. will post 2.25 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were paid a dividend of $0.13 per share. The ex-dividend date was Friday, May 10th. This represents a $0.52 annualized dividend and a dividend yield of 2.04%. Magnolia Oil & Gas’s dividend payout ratio is currently 25.87%.

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.