Principal Financial Group Inc. decreased its stake in shares of Magnolia Oil & Gas Corp (NYSE:MGY – Free Report) by 2.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,544,274 shares of the company’s stock after selling 38,492 shares during the period. Principal Financial Group Inc.’s holdings in Magnolia Oil & Gas were worth $48,752,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the stock. State Street Corp boosted its stake in shares of Magnolia Oil & Gas by 1.4% during the fourth quarter. State Street Corp now owns 8,800,807 shares of the company’s stock valued at $192,650,000 after acquiring an additional 125,707 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Magnolia Oil & Gas by 4.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,634,362 shares of the company’s stock valued at $145,230,000 after purchasing an additional 264,649 shares during the last quarter. TD Asset Management Inc raised its stake in Magnolia Oil & Gas by 26.6% in the 4th quarter. TD Asset Management Inc now owns 5,671,819 shares of the company’s stock valued at $124,156,000 after purchasing an additional 1,193,458 shares during the last quarter. Epoch Investment Partners Inc. lifted its holdings in Magnolia Oil & Gas by 28.8% in the 4th quarter. Epoch Investment Partners Inc. now owns 5,330,064 shares of the company’s stock valued at $116,675,000 after purchasing an additional 1,191,438 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Magnolia Oil & Gas by 2.2% in the 3rd quarter. Wellington Management Group LLP now owns 5,225,168 shares of the company’s stock valued at $124,725,000 after purchasing an additional 113,458 shares in the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.
Magnolia Oil & Gas Trading Up 1.4%
MGY stock opened at $27.27 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.19. The company has a market cap of $5.04 billion, a price-to-earnings ratio of 15.85 and a beta of 0.70. The business has a fifty day simple moving average of $27.36 and a 200-day simple moving average of $27.30. Magnolia Oil & Gas Corp has a 52 week low of $21.07 and a 52 week high of $32.76.
Magnolia Oil & Gas Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were paid a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Tuesday, May 12th. Magnolia Oil & Gas’s payout ratio is currently 38.37%.
Analyst Ratings Changes
A number of equities research analysts have recently commented on the stock. Mizuho lifted their price target on shares of Magnolia Oil & Gas from $33.00 to $35.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Zacks Research downgraded shares of Magnolia Oil & Gas from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Truist Financial decreased their target price on shares of Magnolia Oil & Gas from $34.00 to $32.00 and set a “hold” rating on the stock in a research report on Tuesday, July 7th. UBS Group lowered their target price on shares of Magnolia Oil & Gas from $38.00 to $34.00 and set a “buy” rating for the company in a research note on Friday, July 10th. Finally, Roth Capital upgraded Magnolia Oil & Gas from a “neutral” rating to a “buy” rating and set a $31.00 price target for the company in a report on Monday, June 22nd. Eight analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $31.08.
About Magnolia Oil & Gas
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).
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