Ensign Peak Advisors Inc Buys 3,630 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Ensign Peak Advisors Inc raised its position in Magnolia Oil & Gas Co. (NYSE:MGY) by 5.6% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 68,919 shares of the company’s stock after buying an additional 3,630 shares during the period. Ensign Peak Advisors Inc’s holdings in Magnolia Oil & Gas were worth $1,746,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Nordea Investment Management AB boosted its holdings in Magnolia Oil & Gas by 37.1% in the first quarter. Nordea Investment Management AB now owns 521,702 shares of the company’s stock valued at $13,387,000 after acquiring an additional 141,046 shares during the last quarter. Maryland State Retirement & Pension System bought a new position in shares of Magnolia Oil & Gas in the 1st quarter valued at about $1,721,000. Texas Permanent School Fund Corp acquired a new stake in shares of Magnolia Oil & Gas during the 1st quarter worth approximately $4,207,000. Vanguard Group Inc. raised its stake in shares of Magnolia Oil & Gas by 16.6% during the first quarter. Vanguard Group Inc. now owns 20,757,369 shares of the company’s stock worth $538,654,000 after buying an additional 2,956,314 shares during the last quarter. Finally, Wasatch Advisors LP lifted its holdings in Magnolia Oil & Gas by 2.2% in the fourth quarter. Wasatch Advisors LP now owns 3,679,262 shares of the company’s stock valued at $78,331,000 after buying an additional 77,733 shares during the period. 94.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Magnolia Oil & Gas

In other news, Director Ltd. Enervest sold 7,000,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $25.86, for a total transaction of $181,020,000.00. Following the completion of the transaction, the director now directly owns 2,099,403 shares of the company’s stock, valued at approximately $54,290,561.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.20% of the company’s stock.

Magnolia Oil & Gas Stock Performance

Shares of MGY opened at $24.27 on Friday. The firm’s 50 day moving average price is $24.94 and its two-hundred day moving average price is $25.30. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.28 and a current ratio of 1.28. Magnolia Oil & Gas Co. has a twelve month low of $19.16 and a twelve month high of $27.63. The firm has a market cap of $4.83 billion, a P/E ratio of 12.07, a PEG ratio of 1.27 and a beta of 2.00.

Magnolia Oil & Gas (NYSE:MGY) last released its earnings results on Wednesday, July 31st. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. Magnolia Oil & Gas had a return on equity of 21.18% and a net margin of 29.44%. The firm had revenue of $336.73 million during the quarter, compared to analysts’ expectations of $340.72 million. On average, analysts forecast that Magnolia Oil & Gas Co. will post 2.04 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend was Friday, August 9th. Magnolia Oil & Gas’s dividend payout ratio is presently 25.87%.

Wall Street Analysts Forecast Growth

MGY has been the subject of several recent research reports. Capital One Financial assumed coverage on shares of Magnolia Oil & Gas in a research report on Tuesday, June 11th. They set an “overweight” rating and a $28.00 target price for the company. JPMorgan Chase & Co. dropped their price objective 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 reduced their target price on Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Mizuho decreased their target price on Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Finally, Truist Financial increased their price target on shares of Magnolia Oil & Gas from $34.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $28.00.

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.