Vestcor Inc Acquires 13,325 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Vestcor Inc increased its holdings in Magnolia Oil & Gas Co. (NYSE:MGY) by 65.9% during the 4th quarter, Holdings Channel reports. The firm owned 33,559 shares of the company’s stock after buying an additional 13,325 shares during the period. Vestcor Inc’s holdings in Magnolia Oil & Gas were worth $785,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. First Horizon Advisors Inc. boosted its position in Magnolia Oil & Gas by 64.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock valued at $25,000 after acquiring an additional 396 shares in the last quarter. Mather Group LLC. boosted its position in Magnolia Oil & Gas by 100.0% during the 4th quarter. Mather Group LLC. now owns 1,090 shares of the company’s stock valued at $25,000 after acquiring an additional 545 shares in the last quarter. Larson Financial Group LLC boosted its position in Magnolia Oil & Gas by 112.3% during the 4th quarter. Larson Financial Group LLC now owns 1,072 shares of the company’s stock valued at $25,000 after acquiring an additional 567 shares in the last quarter. R Squared Ltd bought a new stake in Magnolia Oil & Gas during the 4th quarter valued at approximately $43,000. Finally, Avior Wealth Management LLC boosted its position in Magnolia Oil & Gas by 30.0% during the 4th quarter. Avior Wealth Management LLC now owns 2,194 shares of the company’s stock valued at $51,000 after acquiring an additional 506 shares in the last quarter. 94.73% of the stock is owned by institutional investors.

Insider Buying and Selling at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros acquired 2,500 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was purchased at an average price of $22.05 per share, with a total value of $55,125.00. Following the transaction, the chief executive officer now directly owns 892,372 shares in the company, valued at approximately $19,676,802.60. The trade was a 0.28 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.20% of the company’s stock.

Magnolia Oil & Gas Price Performance

Shares of NYSE MGY opened at $23.27 on Monday. The firm has a market cap of $4.52 billion, a P/E ratio of 12.06, a PEG ratio of 3.01 and a beta of 1.90. The company has a quick ratio of 1.47, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. The company has a 50 day moving average of $24.12 and a 200 day moving average of $25.04. Magnolia Oil & Gas Co. has a twelve month low of $21.63 and a twelve month high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Tuesday, February 18th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. The business had revenue of $326.61 million during the quarter, compared to analyst estimates of $327.40 million. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. As a group, research analysts expect that Magnolia Oil & Gas Co. will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a yield of 2.58%. Magnolia Oil & Gas’s payout ratio is currently 31.09%.

Analysts Set New Price Targets

MGY has been the subject of several recent research reports. Johnson Rice lowered shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a report on Tuesday, January 28th. JPMorgan Chase & Co. lowered their target price on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday. Piper Sandler lifted their target price on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. The Goldman Sachs Group lowered shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and lowered their target price for the company from $27.00 to $26.00 in a report on Friday, January 31st. Finally, Williams Trading set a $29.00 target price on shares of Magnolia Oil & Gas in a report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Magnolia Oil & Gas presently has an average rating of “Hold” and an average target price of $27.77.

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.