California Public Employees Retirement System Has $13.07 Million Stock Position in Magnolia Oil & Gas Corp $MGY

California Public Employees Retirement System increased its position in Magnolia Oil & Gas Corp (NYSE:MGY) by 8.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 413,997 shares of the company’s stock after buying an additional 32,700 shares during the period. California Public Employees Retirement System’s holdings in Magnolia Oil & Gas were worth $13,070,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in MGY. Valued Wealth Advisors LLC bought a new stake in Magnolia Oil & Gas during the 1st quarter worth approximately $29,000. Salomon & Ludwin LLC grew its holdings in shares of Magnolia Oil & Gas by 130.1% in the fourth quarter. Salomon & Ludwin LLC now owns 1,344 shares of the company’s stock valued at $29,000 after acquiring an additional 760 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Magnolia Oil & Gas by 165.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock valued at $31,000 after acquiring an additional 864 shares in the last quarter. Torren Management LLC purchased a new stake in shares of Magnolia Oil & Gas during the fourth quarter valued at approximately $38,000. Finally, Parallel Advisors LLC increased its position in shares of Magnolia Oil & Gas by 79.8% during the fourth quarter. Parallel Advisors LLC now owns 1,769 shares of the company’s stock valued at $39,000 after acquiring an additional 785 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Magnolia Oil & Gas Stock Down 1.7%

NYSE:MGY opened at $25.33 on Friday. Magnolia Oil & Gas Corp has a 1-year low of $21.07 and a 1-year high of $32.76. The company has a market capitalization of $4.69 billion, a PE ratio of 14.73 and a beta of 0.70. The firm’s 50-day moving average price is $27.03 and its 200-day moving average price is $27.42. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.10 and a quick ratio of 1.10.

Magnolia Oil & Gas (NYSE:MGY) last released its earnings results on Wednesday, May 6th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.51 by $0.03. The business had revenue of $358.51 million for the quarter, compared to the consensus estimate of $349.89 million. Magnolia Oil & Gas had a return on equity of 16.28% and a net margin of 24.40%.The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.54 earnings per share. On average, equities analysts predict that Magnolia Oil & Gas Corp will post 2.7 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently declared 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 dividend payout ratio is presently 38.37%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MGY. UBS Group lowered their target price on Magnolia Oil & Gas from $38.00 to $34.00 and set a “buy” rating on the stock in a research note on Friday, July 10th. Wells Fargo & Company decreased their price objective on Magnolia Oil & Gas from $32.00 to $31.00 and set an “equal weight” rating for the company in a report on Wednesday, May 13th. Truist Financial lowered their price objective on Magnolia Oil & Gas from $34.00 to $32.00 and set a “hold” rating on the stock in a research note on Tuesday, July 7th. Roth Capital reduced their price objective on shares of Magnolia Oil & Gas from $30.00 to $29.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Zacks Research lowered Magnolia Oil & Gas from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Eight analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $31.42.

Magnolia Oil & Gas Company 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).