Teacher Retirement System of Texas Has $1.10 Million Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Teacher Retirement System of Texas decreased its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 5.6% in the 4th quarter, HoldingsChannel reports. The fund owned 46,859 shares of the company’s stock after selling 2,782 shares during the period. Teacher Retirement System of Texas’ holdings in Magnolia Oil & Gas were worth $1,096,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Maryland State Retirement & Pension System increased its stake in Magnolia Oil & Gas by 1.2% during the 4th quarter. Maryland State Retirement & Pension System now owns 64,333 shares of the company’s stock valued at $1,504,000 after purchasing an additional 793 shares in the last quarter. Xponance Inc. increased its position in shares of Magnolia Oil & Gas by 9.1% during the fourth quarter. Xponance Inc. now owns 12,299 shares of the company’s stock worth $288,000 after acquiring an additional 1,022 shares in the last quarter. Cibc World Markets Corp acquired a new stake in shares of Magnolia Oil & Gas in the 4th quarter worth about $379,000. Hilton Capital Management LLC lifted its position in Magnolia Oil & Gas by 4.5% in the 4th quarter. Hilton Capital Management LLC now owns 42,263 shares of the company’s stock valued at $988,000 after acquiring an additional 1,822 shares in the last quarter. Finally, Vestcor Inc boosted its stake in Magnolia Oil & Gas by 65.9% during the 4th quarter. Vestcor Inc now owns 33,559 shares of the company’s stock valued at $785,000 after purchasing an additional 13,325 shares during the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Magnolia Oil & Gas

In related news, CEO Christopher G. Stavros acquired 2,500 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average cost of $22.05 per share, for a total transaction of $55,125.00. Following the purchase, the chief executive officer now owns 892,372 shares in the company, valued at $19,676,802.60. This trade represents a 0.28 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MGY. JPMorgan Chase & Co. dropped their target price on Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Truist Financial raised their price objective on Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Mizuho increased their target price on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, December 16th. The Goldman Sachs Group cut 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, Piper Sandler increased their price objective on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. 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 stock has an average rating of “Hold” and a consensus target price of $27.77.

Magnolia Oil & Gas Price Performance

Shares of NYSE MGY opened at $25.21 on Friday. The company has a current ratio of 1.42, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. The stock has a fifty day simple moving average of $24.08 and a two-hundred day simple moving average of $25.08. Magnolia Oil & Gas Co. has a 1-year low of $21.63 and a 1-year high of $29.02. The firm has a market cap of $4.89 billion, a price-to-earnings ratio of 13.06, a price-to-earnings-growth ratio of 3.01 and a beta of 1.90.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.03. The company had revenue of $326.61 million during the quarter, compared to analyst estimates of $327.40 million. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. Analysts anticipate that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a $0.15 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.60 annualized dividend and a dividend yield of 2.38%. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s payout ratio is 31.09%.

About Magnolia Oil & Gas

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.