Thrivent Financial for Lutherans Trims Stock Holdings in Magnolia Oil & Gas Corp $MGY

Thrivent Financial for Lutherans lessened its stake in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 50.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 133,675 shares of the company’s stock after selling 136,298 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.07% of Magnolia Oil & Gas worth $3,191,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in MGY. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Magnolia Oil & Gas by 236.2% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,190 shares of the company’s stock worth $27,000 after buying an additional 836 shares in the last quarter. Mather Group LLC. acquired a new stake in Magnolia Oil & Gas during the third quarter worth approximately $31,000. Caitong International Asset Management Co. Ltd purchased a new stake in Magnolia Oil & Gas in the 2nd quarter worth approximately $30,000. EverSource Wealth Advisors LLC grew its stake in Magnolia Oil & Gas by 165.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock worth $31,000 after acquiring an additional 864 shares during the period. Finally, Geneos Wealth Management Inc. raised its holdings in Magnolia Oil & Gas by 90.5% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,212 shares of the company’s stock valued at $50,000 after acquiring an additional 1,051 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Analysts Set New Price Targets

MGY has been the subject of a number of recent analyst reports. BMO Capital Markets assumed coverage on Magnolia Oil & Gas in a research report on Friday, January 9th. They issued an “outperform” rating and a $27.00 price objective for the company. Susquehanna decreased their price target on Magnolia Oil & Gas from $30.00 to $28.00 and set a “positive” rating on the stock in a research note on Monday, January 26th. Piper Sandler dropped their price objective on shares of Magnolia Oil & Gas from $25.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, November 18th. Benchmark reiterated a “hold” rating on shares of Magnolia Oil & Gas in a report on Wednesday, January 21st. Finally, Citigroup raised shares of Magnolia Oil & Gas from a “neutral” rating to a “buy” rating and raised their target price for the stock from $19.00 to $25.00 in a research report on Wednesday, January 14th. Eight equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $26.73.

Magnolia Oil & Gas Stock Performance

NYSE MGY opened at $27.00 on Monday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.54 and a quick ratio of 1.47. Magnolia Oil & Gas Corp has a 1-year low of $19.09 and a 1-year high of $27.47. The firm has a market capitalization of $5.09 billion, a P/E ratio of 15.69 and a beta of 0.96. The business’s 50-day simple moving average is $23.08 and its 200-day simple moving average is $23.37.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings results on Thursday, February 5th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.36 by $0.01. The firm had revenue of $317.63 million for the quarter, compared to analyst estimates of $322.18 million. Magnolia Oil & Gas had a net margin of 24.79% and a return on equity of 16.79%. Magnolia Oil & Gas’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.44 earnings per share. Equities analysts predict that Magnolia Oil & Gas Corp will post 2.1 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Tuesday, February 10th will be issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Tuesday, February 10th. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.15. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 34.88%.

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).