Magnolia Oil & Gas Co. (NYSE:MGY) Shares Acquired by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund increased its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 3.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 105,799 shares of the company’s stock after acquiring an additional 3,047 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Magnolia Oil & Gas were worth $2,474,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Harbor Capital Advisors Inc. purchased a new position in Magnolia Oil & Gas during the third quarter worth about $25,000. First Horizon Advisors Inc. increased its holdings in shares of Magnolia Oil & Gas by 64.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock worth $25,000 after buying an additional 396 shares during the last quarter. Mather Group LLC. increased its holdings in shares of Magnolia Oil & Gas by 100.0% during the 4th quarter. Mather Group LLC. now owns 1,090 shares of the company’s stock worth $25,000 after buying an additional 545 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Magnolia Oil & Gas during the 4th quarter valued at approximately $43,000. Finally, Avior Wealth Management LLC lifted its holdings in Magnolia Oil & Gas by 30.0% in the fourth quarter. Avior Wealth Management LLC now owns 2,194 shares of the company’s stock valued at $51,000 after acquiring an additional 506 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Price Performance

Shares of MGY opened at $23.52 on Friday. The company has a market cap of $4.62 billion, a P/E ratio of 12.18, a PEG ratio of 3.01 and a beta of 1.98. Magnolia Oil & Gas Co. has a fifty-two week low of $22.04 and a fifty-two week high of $29.02. The company has a quick ratio of 1.47, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. The firm’s 50 day moving average price is $24.19 and its 200 day moving average price is $25.22.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. The business had revenue of $326.61 million for the quarter, compared to analyst estimates of $327.40 million. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. On average, research analysts forecast that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 31.09%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on MGY shares. The Goldman Sachs Group cut Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and cut their target price for the stock from $27.00 to $26.00 in a research note on Friday, January 31st. Piper Sandler raised their price objective on Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Johnson Rice cut shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Truist Financial increased their target price on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Finally, Bank of America reissued a “neutral” rating and issued a $28.00 price target (down from $29.00) on shares of Magnolia Oil & Gas in a research note on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $27.58.

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.