Vestcor Inc Purchases 13,325 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Vestcor Inc raised its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 65.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 33,559 shares of the company’s stock after purchasing an additional 13,325 shares during the period. Vestcor Inc’s holdings in Magnolia Oil & Gas were worth $785,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Swiss National Bank boosted its stake in Magnolia Oil & Gas by 4.8% during the 4th quarter. Swiss National Bank now owns 351,500 shares of the company’s stock valued at $8,218,000 after purchasing an additional 16,000 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Magnolia Oil & Gas by 62.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 590,641 shares of the company’s stock valued at $13,809,000 after purchasing an additional 226,277 shares during the last quarter. HighTower Advisors LLC boosted its stake in Magnolia Oil & Gas by 6.4% during the 4th quarter. HighTower Advisors LLC now owns 15,106 shares of the company’s stock valued at $353,000 after purchasing an additional 906 shares during the last quarter. Isthmus Partners LLC boosted its stake in Magnolia Oil & Gas by 5.2% during the 4th quarter. Isthmus Partners LLC now owns 9,320 shares of the company’s stock valued at $218,000 after purchasing an additional 460 shares during the last quarter. Finally, AlphaQuest LLC boosted its stake in Magnolia Oil & Gas by 350,304.0% during the 4th quarter. AlphaQuest LLC now owns 87,601 shares of the company’s stock valued at $2,048,000 after purchasing an additional 87,576 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Trading Up 3.2 %

NYSE MGY opened at $23.27 on Monday. The stock’s 50-day simple moving average is $24.12 and its two-hundred day simple moving average is $25.04. Magnolia Oil & Gas Co. has a twelve month low of $21.63 and a twelve month 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 company has a market capitalization of $4.52 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 3.01 and a beta of 1.90.

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

Magnolia Oil & Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a dividend of $0.15 per share. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend was Friday, February 14th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 31.09%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on MGY shares. The Goldman Sachs Group downgraded Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and cut their price target for the company from $27.00 to $26.00 in a research note on Friday, January 31st. Mizuho boosted their target price on Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. JPMorgan Chase & Co. cut their target price on Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating on the stock in a research note on Thursday. Johnson Rice downgraded Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Finally, Truist Financial boosted their target price on Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $27.77.

Insider Activity

In related news, CEO Christopher G. Stavros acquired 2,500 shares of Magnolia Oil & Gas stock in a transaction dated Monday, March 3rd. The shares were purchased at an average cost of $22.05 per share, with a total value of $55,125.00. Following the completion of the purchase, the chief executive officer now owns 892,372 shares of the company’s stock, valued at $19,676,802.60. This represents a 0.28 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.20% of the company’s stock.

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.