125,800 Shares in Magnolia Oil & Gas Corp $MGY Purchased by Strs Ohio

Key Points

• Strs Ohio has acquired a new position in Magnolia Oil & Gas Corp, purchasing 125,800 shares valued at approximately $3,178,000, representing 0.07% of the company.
• Magnolia Oil & Gas reported $0.43 earnings per share for the last quarter, outperforming analysts' expectations, but experienced a 5.3% decline in revenue year-over-year.
• The company recently declared a quarterly dividend of $0.15 per share, translating to an annual yield of 2.5% and a payout ratio of 31.41%.

Strs Ohio bought a new position in shares of Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 125,800 shares of the company's stock, valued at approximately $3,178,000. Strs Ohio owned approximately 0.07% of Magnolia Oil & Gas at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. State of Wyoming grew its position in shares of Magnolia Oil & Gas by 8.2% during the first quarter. State of Wyoming now owns 5,777 shares of the company's stock worth $146,000 after purchasing an additional 440 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Magnolia Oil & Gas by 16.8% during the 1st quarter. Farther Finance Advisors LLC now owns 4,366 shares of the company's stock valued at $111,000 after buying an additional 629 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Magnolia Oil & Gas by 4.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 15,470 shares of the company's stock valued at $391,000 after buying an additional 715 shares in the last quarter. HighTower Advisors LLC grew its holdings in Magnolia Oil & Gas by 4.9% during the 1st quarter. HighTower Advisors LLC now owns 15,852 shares of the company's stock valued at $400,000 after buying an additional 746 shares in the last quarter. Finally, Xponance Inc. boosted its holdings in shares of Magnolia Oil & Gas by 6.1% in the 1st quarter. Xponance Inc. now owns 13,051 shares of the company's stock worth $330,000 after purchasing an additional 752 shares during the period. Hedge funds and other institutional investors own 94.73% of the company's stock.

Magnolia Oil & Gas Stock Down 2.4%

NYSE:MGY traded down $0.59 during mid-day trading on Friday, hitting $24.02. 7,560,473 shares of the company's stock traded hands, compared to its average volume of 2,128,348. The company has a fifty day moving average of $23.87 and a 200 day moving average of $23.07. Magnolia Oil & Gas Corp has a twelve month low of $19.09 and a twelve month high of $29.02. The company has a market capitalization of $4.58 billion, a P/E ratio of 12.58, a P/E/G ratio of 3.24 and a beta of 1.33. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.44 and a current ratio of 1.44.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.03. The business had revenue of $318.98 million for the quarter, compared to the consensus estimate of $311.58 million. Magnolia Oil & Gas had a return on equity of 19.34% and a net margin of 27.57%.The company's quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.51 EPS. On average, analysts forecast that Magnolia Oil & Gas Corp will post 2.1 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 11th were paid a $0.15 dividend. The ex-dividend date was Monday, August 11th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.5%. Magnolia Oil & Gas's dividend payout ratio is presently 31.41%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Wells Fargo & Company dropped their price objective on shares of Magnolia Oil & Gas from $22.00 to $21.00 and set an "underweight" rating for the company in a research note on Monday, June 16th. Mizuho dropped their price objective on shares of Magnolia Oil & Gas from $26.00 to $25.00 and set a "neutral" rating for the company in a research note on Monday, September 15th. UBS Group reaffirmed a "buy" rating and set a $29.00 price objective (up from $26.00) on shares of Magnolia Oil & Gas in a research note on Friday, June 13th. Bank of America raised their price target on Magnolia Oil & Gas from $23.00 to $25.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Finally, Piper Sandler raised their price target on Magnolia Oil & Gas from $24.00 to $25.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Four analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $26.42.

Magnolia Oil & Gas Company Profile

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.