Illinois Municipal Retirement Fund Acquires 67,644 Shares of Magnolia Oil & Gas Corp $MGY

Illinois Municipal Retirement Fund lifted its holdings in Magnolia Oil & Gas Corp (NYSE:MGY) by 40.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 236,168 shares of the company’s stock after buying an additional 67,644 shares during the quarter. Illinois Municipal Retirement Fund owned approximately 0.12% of Magnolia Oil & Gas worth $5,637,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Vista Finance LLC increased its position in shares of Magnolia Oil & Gas by 4.0% during the second quarter. Vista Finance LLC now owns 12,134 shares of the company’s stock valued at $273,000 after acquiring an additional 471 shares in the last quarter. ProShare Advisors LLC boosted its stake in Magnolia Oil & Gas by 1.2% during the 2nd quarter. ProShare Advisors LLC now owns 41,617 shares of the company’s stock valued at $936,000 after purchasing an additional 495 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Magnolia Oil & Gas by 13.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,284 shares of the company’s stock worth $102,000 after purchasing an additional 500 shares in the last quarter. Amalgamated Bank raised its stake in shares of Magnolia Oil & Gas by 1.0% in the third quarter. Amalgamated Bank now owns 53,307 shares of the company’s stock worth $1,272,000 after purchasing an additional 552 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Magnolia Oil & Gas by 13.3% in the third quarter. GAMMA Investing LLC now owns 5,677 shares of the company’s stock worth $136,000 after purchasing an additional 668 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors.

Magnolia Oil & Gas Price Performance

Shares of NYSE:MGY opened at $26.77 on Friday. The company has a quick ratio of 1.47, a current ratio of 1.54 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $5.05 billion, a PE ratio of 15.56 and a beta of 0.96. The firm’s 50 day moving average price is $23.41 and its 200-day moving average price is $23.47. Magnolia Oil & Gas Corp has a twelve month low of $19.09 and a twelve month high of $27.47.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Thursday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.01. The company had revenue of $317.63 million during 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%. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.44 earnings per share. Equities research analysts expect that Magnolia Oil & Gas Corp will post 2.1 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Tuesday, February 10th will be given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 2.5%. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.15. The ex-dividend date is Tuesday, February 10th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 38.37%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on MGY shares. UBS Group reiterated a “buy” rating and issued a $29.00 price objective on shares of Magnolia Oil & Gas in a report on Friday, January 9th. Wells Fargo & Company set a $22.00 price target on shares of Magnolia Oil & Gas and gave the company an “equal weight” rating in a report on Tuesday, January 27th. Mizuho set a $30.00 price target on shares of Magnolia Oil & Gas in a research note on Friday, February 6th. Citigroup raised shares of Magnolia Oil & Gas from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $19.00 to $25.00 in a report on Wednesday, January 14th. Finally, The Goldman Sachs Group raised their target price on shares of Magnolia Oil & Gas from $23.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday. Nine research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $27.00.

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).