State of Alaska Department of Revenue Grows Stock Position in Magnolia Oil & Gas Corp $MGY

State of Alaska Department of Revenue increased its stake in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 29.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,265 shares of the company’s stock after purchasing an additional 27,069 shares during the quarter. State of Alaska Department of Revenue owned 0.06% of Magnolia Oil & Gas worth $2,632,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Mather Group LLC. acquired a new position in shares of Magnolia Oil & Gas during the third quarter worth about $31,000. EverSource Wealth Advisors LLC increased 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 period. Geneos Wealth Management Inc. increased its stake in shares of Magnolia Oil & Gas by 90.5% during the second quarter. Geneos Wealth Management Inc. now owns 2,212 shares of the company’s stock worth $50,000 after buying an additional 1,051 shares during the period. Exchange Traded Concepts LLC acquired a new stake in Magnolia Oil & Gas in the fourth quarter valued at approximately $54,000. Finally, Nisa Investment Advisors LLC raised its holdings in Magnolia Oil & Gas by 31.5% in the third quarter. Nisa Investment Advisors LLC now owns 3,003 shares of the company’s stock valued at $72,000 after acquiring an additional 720 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Insider Activity at Magnolia Oil & Gas

In other news, Director Dan F. Smith sold 18,000 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $29.01, for a total transaction of $522,180.00. Following the transaction, the director directly owned 119,204 shares in the company, valued at approximately $3,458,108.04. This trade represents a 13.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Timothy D. Yang sold 150,000 shares of Magnolia Oil & Gas stock in a transaction on Monday, March 9th. The shares were sold at an average price of $29.29, for a total transaction of $4,393,500.00. Following the completion of the transaction, the executive vice president directly owned 526,661 shares in the company, valued at $15,425,900.69. The trade was a 22.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 338,954 shares of company stock valued at $9,911,733 over the last 90 days. 0.92% of the stock is owned by insiders.

Magnolia Oil & Gas Trading Down 3.3%

NYSE MGY opened at $27.61 on Friday. The firm’s fifty day moving average price is $29.05 and its 200 day moving average price is $25.10. Magnolia Oil & Gas Corp has a 12 month low of $19.97 and a 12 month high of $32.76. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.54 and a quick ratio of 1.54. The company has a market capitalization of $5.15 billion, a price-to-earnings ratio of 16.05, a price-to-earnings-growth ratio of 1.70 and a beta of 0.83.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings results on Thursday, February 5th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. The firm had revenue of $317.63 million during the quarter, compared to analysts’ expectations of $322.18 million. Magnolia Oil & Gas had a net margin of 24.79% and a return on equity of 16.67%. Magnolia Oil & Gas’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.44 earnings per share. On average, sell-side analysts expect that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Tuesday, February 10th were paid a dividend of $0.165 per share. The ex-dividend date was Tuesday, February 10th. This represents a $0.66 dividend on an annualized basis and a yield of 2.4%. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.15. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 38.37%.

Analyst Ratings Changes

Several research analysts have commented on MGY shares. The Goldman Sachs Group boosted their price target on shares of Magnolia Oil & Gas from $23.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, February 11th. Mizuho set a $30.00 price objective on shares of Magnolia Oil & Gas in a report on Friday, February 6th. Zacks Research raised shares of Magnolia Oil & Gas from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 26th. Siebert Williams Shank downgraded shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating in a research note on Friday, March 6th. Finally, Piper Sandler raised their price target on Magnolia Oil & Gas from $28.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $31.00.

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).