Vestcor Inc Purchases 13,325 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Vestcor Inc grew its position in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 65.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,559 shares of the company's stock after purchasing an additional 13,325 shares during the period. Vestcor Inc's holdings in Magnolia Oil & Gas were worth $785,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. State Street Corp lifted its holdings in shares of Magnolia Oil & Gas by 4.2% in the third quarter. State Street Corp now owns 10,700,257 shares of the company's stock valued at $261,300,000 after purchasing an additional 435,326 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Magnolia Oil & Gas by 2.9% in the third quarter. Geode Capital Management LLC now owns 4,107,769 shares of the company's stock valued at $100,332,000 after acquiring an additional 116,431 shares during the last quarter. Boston Trust Walden Corp increased its position in shares of Magnolia Oil & Gas by 9.5% in the fourth quarter. Boston Trust Walden Corp now owns 3,090,587 shares of the company's stock valued at $72,258,000 after acquiring an additional 267,461 shares during the last quarter. Systematic Financial Management LP increased its position in shares of Magnolia Oil & Gas by 7.5% in the third quarter. Systematic Financial Management LP now owns 2,920,018 shares of the company's stock valued at $71,307,000 after acquiring an additional 203,514 shares during the last quarter. Finally, Loomis Sayles & Co. L P increased its position in shares of Magnolia Oil & Gas by 10.0% in the third quarter. Loomis Sayles & Co. L P now owns 2,782,550 shares of the company's stock valued at $67,950,000 after acquiring an additional 253,911 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Truist Financial lifted their target price on Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a "buy" rating in a research report on Monday, January 13th. Bank of America reaffirmed a "neutral" rating and issued a $28.00 target price (down previously from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Williams Trading set a $29.00 target price on Magnolia Oil & Gas in a research report on Wednesday, March 5th. The Goldman Sachs Group downgraded Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $27.00 to $26.00 in a research report on Friday, January 31st. Finally, Piper Sandler boosted their price target on Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 29th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $27.77.

Magnolia Oil & Gas Trading Up 1.4 %

Shares of NYSE MGY traded up $0.36 during midday trading on Thursday, reaching $25.36. The stock had a trading volume of 4,389,756 shares, compared to its average volume of 2,089,476. The firm has a market cap of $4.92 billion, a price-to-earnings ratio of 13.14, a price-to-earnings-growth ratio of 3.01 and a beta of 1.90. Magnolia Oil & Gas Co. has a twelve month low of $21.63 and a twelve month high of $29.02. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.42. The company's 50 day moving average price is $24.13 and its 200 day moving average price is $25.02.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last released its earnings results on Tuesday, February 18th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.46 by $0.03. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. The company had revenue of $326.61 million for the quarter, compared to the consensus estimate of $327.40 million. As a group, sell-side analysts expect that Magnolia Oil & Gas Co. will post 2.1 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date was Friday, February 14th. This is an increase from Magnolia Oil & Gas's previous quarterly dividend of $0.13. Magnolia Oil & Gas's payout ratio is presently 31.09%.

Insider Activity at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros purchased 2,500 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was acquired at an average price of $22.05 per share, for a total transaction of $55,125.00. Following the purchase, the chief executive officer now owns 892,372 shares of the company's stock, valued at $19,676,802.60. This trade represents a 0.28 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.40% of the stock is owned by corporate insiders.

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.