Oregon Public Employees Retirement Fund Has $1.11 Million Stock Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Oregon Public Employees Retirement Fund lessened its holdings in Magnolia Oil & Gas Co. (NYSE:MGY) by 11.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,926 shares of the company’s stock after selling 5,900 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Magnolia Oil & Gas were worth $1,113,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in MGY. Vanguard Group Inc. increased its holdings 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 in the last quarter. First Trust Advisors LP increased its holdings in shares of Magnolia Oil & Gas by 20.2% during the fourth quarter. First Trust Advisors LP now owns 10,126,891 shares of the company’s stock worth $215,602,000 after buying an additional 1,704,982 shares in the last quarter. Wasatch Advisors LP increased its holdings in shares of Magnolia Oil & Gas by 2.2% during the fourth quarter. Wasatch Advisors LP now owns 3,679,262 shares of the company’s stock worth $78,331,000 after buying an additional 77,733 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Magnolia Oil & Gas by 7.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,506,042 shares of the company’s stock worth $74,647,000 after buying an additional 257,806 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Magnolia Oil & Gas by 4.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,184,107 shares of the company’s stock worth $82,628,000 after buying an additional 142,717 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MGY. Benchmark reissued a “hold” rating on shares of Magnolia Oil & Gas in a report on Thursday, July 18th. Capital One Financial began 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. Mizuho raised their price target on shares of Magnolia Oil & Gas from $26.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, May 13th. Susquehanna lowered their price target 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. Finally, Piper Sandler reduced their price objective on shares of Magnolia Oil & Gas from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Magnolia Oil & Gas presently has a consensus rating of “Hold” and a consensus price target of $28.60.

Magnolia Oil & Gas Price Performance

Shares of MGY stock opened at $23.44 on Tuesday. The firm’s 50 day moving average price is $25.43 and its two-hundred day moving average price is $25.16. The stock has a market cap of $4.67 billion, a PE ratio of 11.66, a PEG ratio of 1.12 and a beta of 2.00. Magnolia Oil & Gas Co. has a 52-week low of $19.16 and a 52-week high of $27.63. 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 (NYSE:MGY) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. The company had revenue of $336.73 million for the quarter, compared to analysts’ expectations of $340.72 million. Magnolia Oil & Gas had a net margin of 29.44% and a return on equity of 21.18%. As a group, analysts forecast that Magnolia Oil & Gas Co. will post 2.13 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were given a dividend of $0.13 per share. The ex-dividend date was Friday, August 9th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.22%. Magnolia Oil & Gas’s dividend payout ratio is 25.87%.

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.