Public Employees Retirement System of Ohio Makes New Investment in Magnolia Oil & Gas Corp $MGY

Public Employees Retirement System of Ohio purchased a new stake in Magnolia Oil & Gas Corp (NYSE:MGY) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 120,293 shares of the company’s stock, valued at approximately $3,077,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp raised its stake in Magnolia Oil & Gas by 1.4% in the 4th quarter. State Street Corp now owns 8,800,807 shares of the company’s stock worth $192,650,000 after purchasing an additional 125,707 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Magnolia Oil & Gas by 5.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,028,781 shares of the company’s stock valued at $221,910,000 after buying an additional 394,419 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Magnolia Oil & Gas by 2.8% in the 1st quarter. Janus Henderson Group PLC now owns 6,279,636 shares of the company’s stock valued at $198,248,000 after purchasing an additional 170,174 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Magnolia Oil & Gas by 790.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 6,263,808 shares of the company’s stock worth $197,748,000 after buying an additional 5,560,619 shares during the period. Finally, TD Asset Management Inc grew its stake in shares of Magnolia Oil & Gas by 26.6% in the 4th quarter. TD Asset Management Inc now owns 5,671,819 shares of the company’s stock valued at $124,156,000 after buying an additional 1,193,458 shares during the period. Institutional investors own 94.73% of the company’s stock.

Insider Buying and Selling

In related news, Director David Khani bought 8,000 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were acquired at an average price of $25.00 per share, for a total transaction of $200,000.00. Following the completion of the transaction, the director directly owned 30,622 shares in the company, valued at $765,550. This trade represents a 35.36% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.92% of the company’s stock.

Magnolia Oil & Gas Trading Down 1.4%

MGY opened at $26.82 on Friday. Magnolia Oil & Gas Corp has a 52 week low of $21.07 and a 52 week high of $32.76. The stock’s fifty day moving average is $26.01 and its two-hundred day moving average is $27.81. The company has a market capitalization of $6.36 billion, a P/E ratio of 11.76 and a beta of 0.70. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.18.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.06. The business had revenue of $478.81 million for the quarter, compared to analysts’ expectations of $458.10 million. Magnolia Oil & Gas had a net margin of 28.77% and a return on equity of 21.04%. The company’s revenue was up 50.1% compared to the same quarter last year. During the same period last year, the business earned $0.41 EPS. Analysts forecast that Magnolia Oil & Gas Corp will post 2.91 earnings per share for the current year.

Magnolia Oil & Gas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 10th were paid a $0.18 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.72 dividend on an annualized basis and a yield of 2.7%. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.17. Magnolia Oil & Gas’s dividend payout ratio is 31.58%.

Wall Street Analysts Forecast Growth

MGY has been the subject of several analyst reports. Wall Street Zen upgraded shares of Magnolia Oil & Gas from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Roth Capital cut their price objective on Magnolia Oil & Gas from $30.00 to $29.00 and set a “buy” rating for the company in a report on Thursday, July 23rd. Mizuho upgraded Magnolia Oil & Gas to a “strong-buy” rating in a research report on Friday, July 31st. Johnson Rice upgraded Magnolia Oil & Gas from a “hold” rating to an “accumulate” rating and reduced their target price for the stock from $33.00 to $32.00 in a report on Monday, August 17th. Finally, Susquehanna upped their target price on shares of Magnolia Oil & Gas from $36.00 to $37.00 and gave the stock a “positive” rating in a research note on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $31.62.

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).