Thrivent Financial for Lutherans Decreases Position in Magnolia Oil & Gas Corp $MGY

Thrivent Financial for Lutherans reduced its stake in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 50.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 133,675 shares of the company’s stock after selling 136,298 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Magnolia Oil & Gas were worth $3,191,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MGY. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Magnolia Oil & Gas by 236.2% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,190 shares of the company’s stock worth $27,000 after acquiring an additional 836 shares during the period. Mather Group LLC. acquired a new position in shares of Magnolia Oil & Gas during the third quarter worth $31,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Magnolia Oil & Gas during the second quarter worth $30,000. EverSource Wealth Advisors LLC boosted its stake 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 purchasing an additional 864 shares during the period. Finally, Geneos Wealth Management Inc. grew its holdings in Magnolia Oil & Gas by 90.5% during the 2nd quarter. Geneos Wealth Management Inc. now owns 2,212 shares of the company’s stock valued at $50,000 after purchasing an additional 1,051 shares in the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

Magnolia Oil & Gas Stock Up 3.0%

Shares of Magnolia Oil & Gas stock opened at $27.00 on Monday. The business has a 50-day moving average price of $23.08 and a 200 day moving average price of $23.37. Magnolia Oil & Gas Corp has a fifty-two week low of $19.09 and a fifty-two week high of $27.47. The firm has a market cap of $5.09 billion, a P/E ratio of 15.69 and a beta of 0.96. The company has a quick ratio of 1.47, a current ratio of 1.54 and a debt-to-equity ratio of 0.20.

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

Magnolia Oil & Gas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 10th will be issued a $0.165 dividend. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.15. This represents a $0.66 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, February 10th. Magnolia Oil & Gas’s dividend payout ratio is presently 34.88%.

Analyst Ratings Changes

A number of equities analysts have commented on MGY shares. Citigroup upgraded shares of Magnolia Oil & Gas from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $19.00 to $25.00 in a report on Wednesday, January 14th. Susquehanna cut 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. BMO Capital Markets initiated coverage on Magnolia Oil & Gas in a report on Friday, January 9th. They issued an “outperform” rating and a $27.00 price target for the company. Zacks Research downgraded Magnolia Oil & Gas from a “hold” rating to a “strong sell” rating in a report on Monday, January 12th. Finally, Benchmark reiterated a “hold” rating on shares of Magnolia Oil & Gas in a research note on Wednesday, January 21st. Eight investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Magnolia Oil & Gas presently has an average rating of “Moderate Buy” and an average price target of $26.73.

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).