Strs Ohio Has $451,000 Stock Holdings in Magnolia Oil & Gas Corp $MGY

Strs Ohio reduced its stake in Magnolia Oil & Gas Corp (NYSE:MGY) by 84.4% in the 1st quarter, HoldingsChannel reports. The firm owned 14,300 shares of the company’s stock after selling 77,600 shares during the quarter. Strs Ohio’s holdings in Magnolia Oil & Gas were worth $451,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Foster Victor Wealth Advisors LLC grew its position in Magnolia Oil & Gas by 9.2% in the 4th quarter. Foster Victor Wealth Advisors LLC now owns 417,192 shares of the company’s stock valued at $9,429,000 after purchasing an additional 35,223 shares during the period. JPMorgan Chase & Co. raised its holdings in Magnolia Oil & Gas by 34.8% during the third quarter. JPMorgan Chase & Co. now owns 858,972 shares of the company’s stock worth $20,504,000 after buying an additional 221,920 shares during the last quarter. Bessemer Group Inc. raised its holdings in Magnolia Oil & Gas by 22.4% during the fourth quarter. Bessemer Group Inc. now owns 1,116,993 shares of the company’s stock worth $24,452,000 after buying an additional 204,467 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its stake in shares of Magnolia Oil & Gas by 210.5% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 414,817 shares of the company’s stock valued at $9,080,000 after buying an additional 281,234 shares in the last quarter. Finally, GW&K Investment Management LLC lifted its stake in shares of Magnolia Oil & Gas by 14.6% in the fourth quarter. GW&K Investment Management LLC now owns 3,169,496 shares of the company’s stock valued at $69,381,000 after buying an additional 404,402 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Trading Down 0.4%

Shares of Magnolia Oil & Gas stock opened at $25.78 on Friday. The firm has a market cap of $4.77 billion, a PE ratio of 14.99 and a beta of 0.70. Magnolia Oil & Gas Corp has a 1 year low of $21.07 and a 1 year high of $32.76. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a fifty day moving average price of $27.59 and a 200-day moving average price of $27.12.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. The company had revenue of $358.51 million for the quarter, compared to the consensus estimate of $349.89 million. Magnolia Oil & Gas had a net margin of 24.40% and a return on equity of 16.28%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.54 EPS. Equities research analysts anticipate that Magnolia Oil & Gas Corp will post 2.75 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Tuesday, May 12th. Magnolia Oil & Gas’s payout ratio is presently 38.37%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Citigroup decreased their target price on shares of Magnolia Oil & Gas from $35.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday, April 13th. UBS Group dropped their price target on shares of Magnolia Oil & Gas from $38.00 to $34.00 and set a “buy” rating on the stock in a research report on Friday. Mizuho boosted their price objective on Magnolia Oil & Gas from $33.00 to $35.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Roth Capital raised Magnolia Oil & Gas from a “neutral” rating to a “buy” rating and set a $31.00 price objective for the company in a research note on Monday, June 22nd. Finally, Weiss Ratings downgraded Magnolia Oil & Gas from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 21st. Eight investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $31.08.

Magnolia Oil & Gas Profile

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).