Maryland State Retirement & Pension System Reduces Stake in Magnolia Oil & Gas Corp $MGY

Maryland State Retirement & Pension System reduced its stake in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 51.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 26,638 shares of the company’s stock after selling 28,303 shares during the period. Maryland State Retirement & Pension System’s holdings in Magnolia Oil & Gas were worth $636,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Magnolia Oil & Gas by 236.2% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,190 shares of the company’s stock valued at $27,000 after purchasing an additional 836 shares during the last quarter. Mather Group LLC. bought a new stake in shares of Magnolia Oil & Gas in the third quarter valued at $31,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Magnolia Oil & Gas in the second quarter valued at $30,000. EverSource Wealth Advisors LLC lifted its position in shares of Magnolia Oil & Gas by 165.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock valued at $31,000 after buying an additional 864 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in shares of Magnolia Oil & Gas by 90.5% during the 2nd quarter. Geneos Wealth Management Inc. now owns 2,212 shares of the company’s stock worth $50,000 after acquiring an additional 1,051 shares during the period. Institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Trading Up 0.3%

Shares of Magnolia Oil & Gas stock opened at $23.80 on Friday. The company’s 50-day moving average price is $22.51 and its 200-day moving average price is $23.20. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas Corp has a 12-month low of $19.09 and a 12-month high of $26.24. The company has a market cap of $4.49 billion, a price-to-earnings ratio of 13.30, a PEG ratio of 3.82 and a beta of 0.92.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $0.41 EPS for the quarter, meeting the consensus estimate of $0.41. Magnolia Oil & Gas had a net margin of 25.90% and a return on equity of 18.10%. The company had revenue of $324.94 million during the quarter, compared to analysts’ expectations of $322.52 million. During the same quarter in the previous year, the company earned $0.52 earnings per share. Magnolia Oil & Gas’s revenue for the quarter was down 2.5% on a year-over-year basis. On average, equities analysts expect that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 10th were issued a $0.15 dividend. The ex-dividend date of this dividend was Monday, November 10th. This represents a $0.60 annualized dividend and a dividend yield of 2.5%. Magnolia Oil & Gas’s dividend payout ratio is presently 33.52%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MGY. Benchmark restated a “hold” rating on shares of Magnolia Oil & Gas in a research note on Wednesday. Weiss Ratings reiterated a “hold (c)” rating on shares of Magnolia Oil & Gas in a research note on Wednesday, October 8th. Bank of America upgraded shares of Magnolia Oil & Gas from a “neutral” rating to a “buy” rating and upped their price target for the company from $26.00 to $28.00 in a research note on Friday, January 16th. Zacks Research downgraded shares of Magnolia Oil & Gas from a “hold” rating to a “strong sell” rating in a report on Monday, January 12th. Finally, BMO Capital Markets began coverage on shares of Magnolia Oil & Gas in a research note on Friday, January 9th. They issued an “outperform” rating and a $27.00 price objective for the company. Eight equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $26.67.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corp (NYSE: MGY) is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties.

The company’s core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs).