Magnolia Oil & Gas Co. (NYSE:MGY) Shares Bought by Public Sector Pension Investment Board

Public Sector Pension Investment Board grew its stake in Magnolia Oil & Gas Co. (NYSE:MGY) by 0.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 399,254 shares of the company’s stock after purchasing an additional 1,200 shares during the period. Public Sector Pension Investment Board owned approximately 0.20% of Magnolia Oil & Gas worth $9,750,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Harbor Capital Advisors Inc. acquired a new position in shares of Magnolia Oil & Gas during the 3rd quarter worth $25,000. First Horizon Advisors Inc. boosted its holdings in Magnolia Oil & Gas by 64.7% during the third quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock worth $25,000 after buying an additional 396 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its position in Magnolia Oil & Gas by 1,753.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,038 shares of the company’s stock worth $26,000 after buying an additional 982 shares during the period. Opal Wealth Advisors LLC purchased a new position in Magnolia Oil & Gas in the second quarter valued at about $26,000. Finally, GAMMA Investing LLC lifted its position in shares of Magnolia Oil & Gas by 184.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock valued at $41,000 after acquiring an additional 1,042 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on MGY. Benchmark restated a “hold” rating on shares of Magnolia Oil & Gas in a report on Tuesday, October 15th. Piper Sandler lowered their target price on Magnolia Oil & Gas from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. Mizuho cut their price target on Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Siebert Williams Shank cut shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a research note on Tuesday, October 15th. Finally, Truist Financial lifted their target price on shares of Magnolia Oil & Gas from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Magnolia Oil & Gas currently has a consensus rating of “Hold” and a consensus target price of $27.67.

Insider Buying and Selling

In other Magnolia Oil & Gas news, Director Ltd. Enervest sold 7,000,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $25.86, for a total transaction of $181,020,000.00. Following the completion of the sale, the director now owns 2,099,403 shares of the company’s stock, valued at approximately $54,290,561.58. The trade was a 76.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Magnolia Oil & Gas Stock Up 0.2 %

MGY stock opened at $27.74 on Friday. Magnolia Oil & Gas Co. has a one year low of $19.16 and a one year high of $29.02. The stock has a market capitalization of $5.45 billion, a P/E ratio of 13.73, a PEG ratio of 1.41 and a beta of 1.99. The company has a 50 day moving average price of $26.40 and a two-hundred day moving average price of $25.58. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.47.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. Magnolia Oil & Gas had a return on equity of 20.78% and a net margin of 28.88%. The business had revenue of $333.14 million during the quarter, compared to the consensus estimate of $331.45 million. As a group, sell-side analysts expect that Magnolia Oil & Gas Co. will post 1.99 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be issued a dividend of $0.13 per share. The ex-dividend date is Friday, November 8th. This represents a $0.52 annualized dividend and a dividend yield of 1.87%. Magnolia Oil & Gas’s payout ratio is currently 25.74%.

Magnolia Oil & Gas Company Profile

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.