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 Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. American Century Companies Inc. grew its stake in Magnolia Oil & Gas by 5.7% in the 1st quarter. American Century Companies Inc. now owns 10,502,353 shares of the company's stock worth $265,289,000 after acquiring an additional 562,223 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Magnolia Oil & Gas by 12.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,365,892 shares of the company's stock worth $135,541,000 after acquiring an additional 597,845 shares in the last quarter. Boston Trust Walden Corp grew its stake in Magnolia Oil & Gas by 2.8% in the 1st quarter. Boston Trust Walden Corp now owns 3,178,608 shares of the company's stock worth $80,292,000 after acquiring an additional 88,021 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Magnolia Oil & Gas by 3.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,175,387 shares of the company's stock valued at $81,004,000 after purchasing an additional 110,961 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Magnolia Oil & Gas by 5.2% during the first quarter. Principal Financial Group Inc. now owns 2,427,952 shares of the company's stock valued at $61,330,000 after purchasing an additional 119,127 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MGY has been the topic of a number of recent research reports. Citigroup reiterated a "sell" rating on shares of Magnolia Oil & Gas in a research note on Thursday, July 10th. Bank of America increased their price objective on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the company a "neutral" rating in a research note on Friday, May 23rd. Wells Fargo & Company decreased their target price on shares of Magnolia Oil & Gas from $22.00 to $21.00 and set an "underweight" rating for the company in a research report on Monday, June 16th. UBS Group reissued a "buy" rating and set a $29.00 target price (up previously from $26.00) on shares of Magnolia Oil & Gas in a research report on Friday, June 13th. Finally, William Blair started coverage on shares of Magnolia Oil & Gas in a research report on Monday, August 25th. They set an "outperform" rating for the company. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $26.42.

Magnolia Oil & Gas Stock Down 0.5%

Shares of NYSE MGY opened at $23.67 on Tuesday. The company's 50-day simple moving average is $23.80 and its 200-day simple moving average is $23.02. Magnolia Oil & Gas Corp has a 52-week low of $19.09 and a 52-week high of $29.02. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of 12.39, a price-to-earnings-growth ratio of 3.14 and a beta of 1.33. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.20.

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

Magnolia Oil & Gas Dividend Announcement

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

Magnolia Oil & Gas 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.

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