Louisiana State Employees Retirement System Boosts Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Louisiana State Employees Retirement System grew its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 1.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 92,400 shares of the company’s stock after purchasing an additional 1,400 shares during the period. Louisiana State Employees Retirement System’s holdings in Magnolia Oil & Gas were worth $2,160,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Entropy Technologies LP raised its stake in shares of Magnolia Oil & Gas by 118.3% during the fourth quarter. Entropy Technologies LP now owns 26,503 shares of the company’s stock valued at $620,000 after purchasing an additional 14,365 shares during the period. Empowered Funds LLC grew its position in shares of Magnolia Oil & Gas by 4.5% during the fourth quarter. Empowered Funds LLC now owns 60,114 shares of the company’s stock worth $1,405,000 after buying an additional 2,591 shares in the last quarter. Vest Financial LLC grew its position in shares of Magnolia Oil & Gas by 39.0% during the fourth quarter. Vest Financial LLC now owns 1,521,004 shares of the company’s stock worth $35,561,000 after buying an additional 426,572 shares in the last quarter. State of Alaska Department of Revenue grew its position in shares of Magnolia Oil & Gas by 1.1% during the fourth quarter. State of Alaska Department of Revenue now owns 108,570 shares of the company’s stock worth $2,538,000 after buying an additional 1,195 shares in the last quarter. Finally, Meritage Portfolio Management grew its position in shares of Magnolia Oil & Gas by 9.8% during the fourth quarter. Meritage Portfolio Management now owns 57,420 shares of the company’s stock worth $1,342,000 after buying an additional 5,142 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Performance

Shares of MGY opened at $23.45 on Friday. Magnolia Oil & Gas Co. has a 1 year low of $20.66 and a 1 year high of $29.02. The company has a market cap of $4.61 billion, a price-to-earnings ratio of 11.61, a price-to-earnings-growth ratio of 2.85 and a beta of 1.98. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.47. The firm has a fifty day moving average of $24.38 and a 200-day moving average of $25.27.

Magnolia Oil & Gas Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be issued a dividend of $0.15 per share. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. The ex-dividend date is Friday, February 14th. This represents a $0.60 annualized dividend and a dividend yield of 2.56%. Magnolia Oil & Gas’s payout ratio is 29.70%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MGY. Johnson Rice downgraded shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Piper Sandler raised their price target on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. The Goldman Sachs Group downgraded shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $27.00 to $26.00 in a research report on Friday, January 31st. Truist Financial lifted their price objective on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Finally, Bank of America reaffirmed a “neutral” rating and issued a $28.00 price objective (down previously from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Magnolia Oil & Gas currently has an average rating of “Hold” and an average price target of $27.58.

About Magnolia Oil & Gas

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.