Magnolia Oil & Gas Corp $MGY Shares Acquired by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System increased its Magnolia Oil & Gas position by 26.3%, purchasing 44,038 additional shares to own 211,468 shares valued at approximately $6.7 million. Institutional investors and hedge funds collectively own 94.73% of the company.
• Magnolia Oil & Gas reported quarterly EPS of $0.99, exceeding estimates of $0.93, while revenue rose 50.1% year over year to $478.81 million. Analysts expect full-year EPS of $2.76.
• The company raised its quarterly dividend to $0.18 per share, equivalent to an annualized $0.72 dividend and a 3.0% yield. Analyst sentiment remains moderately bullish, with a consensus price target of $31.50.

California State Teachers Retirement System boosted its position in shares of Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 26.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 211,468 shares of the company's stock after buying an additional 44,038 shares during the quarter. California State Teachers Retirement System owned 0.11% of Magnolia Oil & Gas worth $6,676,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Lido Advisors LLC raised its position in Magnolia Oil & Gas by 2.4% in the fourth quarter. Lido Advisors LLC now owns 16,197 shares of the company's stock worth $382,000 after acquiring an additional 387 shares in the last quarter. Oak Family Advisors LLC boosted its position in shares of Magnolia Oil & Gas by 0.9% during the 4th quarter. Oak Family Advisors LLC now owns 47,620 shares of the company's stock valued at $1,042,000 after purchasing an additional 410 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Magnolia Oil & Gas by 10.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,624 shares of the company's stock valued at $102,000 after purchasing an additional 422 shares in the last quarter. Coldstream Capital Management Inc. grew its stake in shares of Magnolia Oil & Gas by 3.1% in the 3rd quarter. Coldstream Capital Management Inc. now owns 15,937 shares of the company's stock worth $380,000 after purchasing an additional 482 shares during the last quarter. Finally, Stifel Financial Corp grew its stake in shares of Magnolia Oil & Gas by 1.6% in the 4th quarter. Stifel Financial Corp now owns 36,980 shares of the company's stock worth $809,000 after purchasing an additional 585 shares during the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

Magnolia Oil & Gas Price Performance

Shares of MGY opened at $23.73 on Thursday. The company has a market capitalization of $4.39 billion, a price-to-earnings ratio of 13.80 and a beta of 0.72. Magnolia Oil & Gas Corp has a fifty-two week low of $21.07 and a fifty-two week high of $32.76. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.10 and a quick ratio of 1.10. The business's 50-day moving average is $26.29 and its 200-day moving average is $27.60.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.93 by $0.06. Magnolia Oil & Gas had a net margin of 24.40% and a return on equity of 16.28%. The business had revenue of $478.81 million during the quarter, compared to analysts' expectations of $458.10 million. During the same period last year, the company posted $0.41 earnings per share. The firm's quarterly revenue was up 50.1% compared to the same quarter last year. Equities research analysts expect that Magnolia Oil & Gas Corp will post 2.76 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 10th will be paid a dividend of $0.18 per share. This is an increase from Magnolia Oil & Gas's previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Monday, August 10th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.0%. Magnolia Oil & Gas's dividend payout ratio (DPR) is 38.37%.

Analyst Upgrades and Downgrades

Several research firms recently commented on MGY. Susquehanna increased their target price on shares of Magnolia Oil & Gas from $35.00 to $36.00 and gave the company a "positive" rating in a research note on Tuesday, July 21st. Wells Fargo & Company decreased their price target on shares of Magnolia Oil & Gas from $32.00 to $31.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 13th. Mizuho raised Magnolia Oil & Gas to a "strong-buy" rating in a report on Friday, July 31st. Citigroup cut their price objective on Magnolia Oil & Gas from $35.00 to $32.00 and set a "neutral" rating for the company in a research report on Monday, April 13th. Finally, Truist Financial raised Magnolia Oil & Gas from a "hold" rating to a "buy" rating and raised their price objective for the stock from $32.00 to $33.00 in a research note on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $31.50.

Magnolia Oil & Gas Company Profile

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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