Public Sector Pension Investment Board Buys 214,916 Shares of Magnolia Oil & Gas Corp (NYSE:MGY)

Key Points

• The Public Sector Pension Investment Board increased its holdings in Magnolia Oil & Gas Corp by 45.2%, purchasing an additional 214,916 shares, which raises its total ownership to approximately 0.36% of the company valued at $17.45 million.
• Equities analysts have mixed ratings for Magnolia Oil & Gas, with a recent price target range of $21.00 to $30.00 and an average rating of "Hold".
• Magnolia Oil & Gas recently announced a quarterly dividend of $0.15 per share, translating to an annualized yield of 2.6%, with a payout ratio of 31.41%.

Public Sector Pension Investment Board grew its stake in Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 45.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 690,875 shares of the company's stock after purchasing an additional 214,916 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.36% of Magnolia Oil & Gas worth $17,452,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. OneDigital Investment Advisors LLC raised its position in shares of Magnolia Oil & Gas by 3.0% in the fourth quarter. OneDigital Investment Advisors LLC now owns 15,768 shares of the company's stock valued at $369,000 after purchasing an additional 464 shares during the period. Summit Investment Advisors Inc. raised its position in shares of Magnolia Oil & Gas by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 18,119 shares of the company's stock valued at $424,000 after purchasing an additional 574 shares during the period. Farther Finance Advisors LLC raised its position in shares of Magnolia Oil & Gas by 16.8% in the first quarter. Farther Finance Advisors LLC now owns 4,366 shares of the company's stock valued at $111,000 after purchasing an additional 629 shares during the period. BOKF NA raised its position in shares of Magnolia Oil & Gas by 3.9% in the fourth quarter. BOKF NA now owns 19,014 shares of the company's stock valued at $473,000 after purchasing an additional 713 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Magnolia Oil & Gas by 4.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 15,470 shares of the company's stock valued at $391,000 after purchasing an additional 715 shares during the period. 94.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on MGY shares. UBS Group reissued a "buy" rating and issued a $29.00 price objective (up from $26.00) on shares of Magnolia Oil & Gas in a research report on Friday, June 13th. Citigroup reaffirmed a "sell" rating on shares of Magnolia Oil & Gas in a research report on Thursday, July 10th. Susquehanna lowered their price target on shares of Magnolia Oil & Gas from $31.00 to $30.00 and set a "positive" rating on the stock in a research report on Tuesday, April 22nd. Wells Fargo & Company lowered their price target on shares of Magnolia Oil & Gas from $22.00 to $21.00 and set an "underweight" rating on the stock in a research report on Monday, June 16th. Finally, Piper Sandler raised their price target on shares of Magnolia Oil & Gas from $24.00 to $25.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $26.67.

Magnolia Oil & Gas Trading Down 1.5%

Shares of Magnolia Oil & Gas stock opened at $23.15 on Tuesday. The company has a market capitalization of $4.42 billion, a price-to-earnings ratio of 12.12, a PEG ratio of 3.04 and a beta of 1.31. 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 Corp has a 12-month low of $19.09 and a 12-month high of $29.02. The firm's 50-day moving average price is $23.43 and its two-hundred day moving average price is $22.98.

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

Magnolia Oil & Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 11th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Monday, August 11th. Magnolia Oil & Gas's dividend 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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