Teacher Retirement System of Texas Has $1.36 Million Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Posted by on Jun 8th, 2023

Teacher Retirement System of Texas cut its holdings in Magnolia Oil & Gas Co. (NYSE:MGY – Get Rating) by 13.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 57,897 shares of the company’s stock after selling 8,908 shares during the period. Teacher Retirement System of Texas’ holdings in Magnolia Oil & Gas were worth $1,358,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Magnolia Oil & Gas by 1.0% in the third quarter. Vanguard Group Inc. now owns 16,316,045 shares of the company’s stock valued at $323,220,000 after acquiring an additional 168,670 shares in the last quarter. Alliancebernstein L.P. grew its stake in Magnolia Oil & Gas by 29.4% during the third quarter. Alliancebernstein L.P. now owns 10,974,454 shares of the company’s stock worth $217,404,000 after buying an additional 2,494,225 shares in the last quarter. BlackRock Inc. grew its stake in Magnolia Oil & Gas by 2.1% during the third quarter. BlackRock Inc. now owns 10,930,571 shares of the company’s stock worth $216,535,000 after buying an additional 222,366 shares in the last quarter. Wellington Management Group LLP grew its stake in Magnolia Oil & Gas by 4.9% during the first quarter. Wellington Management Group LLP now owns 7,528,720 shares of the company’s stock worth $178,054,000 after buying an additional 354,812 shares in the last quarter. Finally, State Street Corp grew its stake in Magnolia Oil & Gas by 6.0% during the second quarter. State Street Corp now owns 7,011,412 shares of the company’s stock worth $147,170,000 after buying an additional 394,053 shares in the last quarter. 98.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MGY has been the topic of a number of analyst reports. Citigroup reduced their price objective on shares of Magnolia Oil & Gas from $25.00 to $22.00 in a research note on Sunday, May 21st. Piper Sandler reduced their price objective on shares of Magnolia Oil & Gas from $34.00 to $33.00 in a research note on Thursday, May 18th. Mizuho reduced their price objective on shares of Magnolia Oil & Gas from $29.00 to $28.00 in a research note on Friday, May 19th. Roth Capital reiterated a “buy” rating on shares of Magnolia Oil & Gas in a research note on Tuesday, February 14th. Finally, SpectralCast restated a “maintains” rating on shares of Magnolia Oil & Gas in a research note on Monday, May 22nd. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $28.88.

Magnolia Oil & Gas Stock Up 4.3 %

Shares of NYSE MGY opened at $21.01 on Thursday. The company has a 50 day simple moving average of $20.85 and a 200 day simple moving average of $22.14. The firm has a market cap of $4.45 billion, a PE ratio of 4.87 and a beta of 2.15. Magnolia Oil & Gas Co. has a 1 year low of $18.01 and a 1 year high of $30.31. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.64 and a quick ratio of 2.64.

Magnolia Oil & Gas (NYSE:MGY – Get Rating) last issued its quarterly earnings data on Wednesday, May 3rd. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.03. The business had revenue of $308.38 million during the quarter, compared to analyst estimates of $322.86 million. Magnolia Oil & Gas had a net margin of 50.72% and a return on equity of 48.98%. On average, research analysts forecast that Magnolia Oil & Gas Co. will post 2.48 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Thursday, May 11th were issued a $0.115 dividend. The ex-dividend date was Wednesday, May 10th. This represents a $0.46 dividend on an annualized basis and a yield of 2.19%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 10.67%.

Magnolia Oil & Gas Profile

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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.

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Institutional Ownership by Quarter for Magnolia Oil & Gas (NYSE:MGY)

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