Thrivent Financial for Lutherans Reduces Stock Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Thrivent Financial for Lutherans decreased its position in Magnolia Oil & Gas Co. (NYSE:MGY) by 26.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 406,863 shares of the company’s stock after selling 144,703 shares during the period. Thrivent Financial for Lutherans owned about 0.21% of Magnolia Oil & Gas worth $9,512,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of MGY. Natixis Advisors LLC lifted its stake in Magnolia Oil & Gas by 3.5% in the third quarter. Natixis Advisors LLC now owns 96,936 shares of the company’s stock valued at $2,367,000 after purchasing an additional 3,238 shares during the last quarter. Pathstone Holdings LLC lifted its position in shares of Magnolia Oil & Gas by 17.0% during the third quarter. Pathstone Holdings LLC now owns 197,289 shares of the company’s stock worth $4,818,000 after acquiring an additional 28,677 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Magnolia Oil & Gas by 1.0% during the third quarter. PNC Financial Services Group Inc. now owns 52,834 shares of the company’s stock worth $1,290,000 after acquiring an additional 548 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Magnolia Oil & Gas by 2.2% during the third quarter. Jennison Associates LLC now owns 23,836 shares of the company’s stock worth $582,000 after acquiring an additional 506 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its position in shares of Magnolia Oil & Gas by 196.6% during the third quarter. Advisors Asset Management Inc. now owns 6,096 shares of the company’s stock worth $149,000 after acquiring an additional 4,041 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Down 1.2 %

MGY opened at $25.03 on Friday. The stock has a market cap of $4.86 billion, a PE ratio of 12.97, a P/E/G ratio of 3.01 and a beta of 1.90. The company has a quick ratio of 1.47, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas Co. has a 52 week low of $21.63 and a 52 week high of $29.02. The business’s fifty day simple moving average is $24.16 and its 200 day simple moving average is $25.02.

Magnolia Oil & Gas (NYSE:MGY) last released its earnings results on Tuesday, February 18th. The company reported $0.49 EPS 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 analysts’ expectations of $327.40 million. As a group, research analysts expect that Magnolia Oil & Gas Co. will post 2.1 earnings per share 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 2.40%. The ex-dividend date of this dividend was Friday, February 14th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 31.09%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on MGY shares. Bank of America restated a “neutral” rating and set a $28.00 target price (down previously from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Truist Financial increased their target price on Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Williams Trading set a $29.00 price target on shares of Magnolia Oil & Gas in a report on Wednesday, March 5th. Mizuho upped their price target on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. Finally, The Goldman Sachs Group cut 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 report on Friday, January 31st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target 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 1.40% of the company’s stock.

Magnolia Oil & Gas Company Profile

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.