Vestcor Inc Has $306,000 Stock Position in Magnolia Oil & Gas Corp $MGY

Vestcor Inc reduced its position in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 66.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,974 shares of the company’s stock after selling 27,302 shares during the period. Vestcor Inc’s holdings in Magnolia Oil & Gas were worth $306,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MGY. Salomon & Ludwin LLC raised its position in Magnolia Oil & Gas by 130.1% during the fourth quarter. Salomon & Ludwin LLC now owns 1,344 shares of the company’s stock valued at $29,000 after purchasing an additional 760 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Magnolia Oil & Gas by 165.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock worth $31,000 after buying an additional 864 shares during the last quarter. Torren Management LLC bought a new stake in shares of Magnolia Oil & Gas during the fourth quarter worth $38,000. Parallel Advisors LLC grew its stake in shares of Magnolia Oil & Gas by 79.8% during the fourth quarter. Parallel Advisors LLC now owns 1,769 shares of the company’s stock worth $39,000 after buying an additional 785 shares during the last quarter. Finally, First Horizon Corp grew its stake in shares of Magnolia Oil & Gas by 159.8% during the fourth quarter. First Horizon Corp now owns 1,889 shares of the company’s stock worth $41,000 after buying an additional 1,162 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. The Goldman Sachs Group boosted their target price on shares of Magnolia Oil & Gas from $23.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 11th. Siebert Williams Shank cut shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating in a research note on Friday, March 6th. KeyCorp boosted their target price on shares of Magnolia Oil & Gas from $30.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, April 2nd. UBS Group boosted their price objective on shares of Magnolia Oil & Gas from $29.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Finally, Roth Mkm reissued a “neutral” rating and issued a $32.00 price objective (up from $29.00) on shares of Magnolia Oil & Gas in a research note on Wednesday, April 8th. Seven research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $31.42.

Magnolia Oil & Gas Price Performance

Shares of NYSE MGY opened at $27.27 on Wednesday. The firm’s 50-day moving average price is $29.14 and its 200-day moving average price is $26.57. Magnolia Oil & Gas Corp has a 1-year low of $21.07 and a 1-year high of $32.76. The firm has a market capitalization of $5.04 billion, a P/E ratio of 15.85 and a beta of 0.71. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.19.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.03. Magnolia Oil & Gas had a net margin of 24.40% and a return on equity of 16.28%. The firm had revenue of $358.51 million for the quarter, compared to analyst estimates of $349.89 million. During the same quarter in the prior year, the business earned $0.54 earnings per share. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities research analysts anticipate that Magnolia Oil & Gas Corp will post 2.82 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Tuesday, May 12th. Magnolia Oil & Gas’s dividend payout ratio is currently 38.37%.

About Magnolia Oil & Gas

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).