Thrivent Financial for Lutherans Lowers Stake in Magnolia Oil & Gas Co. (NYSE:MGY)

Thrivent Financial for Lutherans cut its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 1.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 551,566 shares of the company’s stock after selling 6,409 shares during the quarter. Thrivent Financial for Lutherans owned about 0.28% of Magnolia Oil & Gas worth $13,469,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of MGY. Vanguard Group Inc. raised its holdings in Magnolia Oil & Gas by 16.6% in the first quarter. Vanguard Group Inc. now owns 20,757,369 shares of the company’s stock valued at $538,654,000 after buying an additional 2,956,314 shares during the period. American Century Companies Inc. increased its position in shares of Magnolia Oil & Gas by 9.9% in the second quarter. American Century Companies Inc. now owns 9,389,368 shares of the company’s stock worth $237,927,000 after acquiring an additional 847,542 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Magnolia Oil & Gas by 16.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,520,725 shares of the company’s stock valued at $114,554,000 after acquiring an additional 627,933 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Magnolia Oil & Gas by 1.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,061,846 shares of the company’s stock valued at $74,770,000 after acquiring an additional 50,351 shares in the last quarter. Finally, Boston Trust Walden Corp increased its holdings in Magnolia Oil & Gas by 4.4% in the 3rd quarter. Boston Trust Walden Corp now owns 2,823,126 shares of the company’s stock valued at $68,941,000 after purchasing an additional 119,582 shares in the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MGY. Susquehanna decreased their target price on Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Wells Fargo & Company cut Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $26.00 to $22.00 in a report on Tuesday, October 1st. Truist Financial lifted their price objective on shares of Magnolia Oil & Gas from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Piper Sandler decreased their target price on shares of Magnolia Oil & Gas from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. Finally, Mizuho dropped their price target on shares of Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $27.67.

Insiders Place Their Bets

In related news, Director Ltd. Enervest sold 7,000,000 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $25.86, for a total transaction of $181,020,000.00. Following the sale, the director now owns 2,099,403 shares in the company, valued at $54,290,561.58. This represents a 76.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.40% of the stock is currently owned by corporate insiders.

Magnolia Oil & Gas Price Performance

MGY opened at $27.71 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.47. Magnolia Oil & Gas Co. has a 1-year low of $19.16 and a 1-year high of $27.96. The company has a 50-day moving average of $25.86 and a 200-day moving average of $25.46. The company has a market capitalization of $5.45 billion, a P/E ratio of 13.64, a PEG ratio of 1.37 and a beta of 1.99.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.04. The firm had revenue of $333.14 million for the quarter, compared to analysts’ expectations of $331.45 million. Magnolia Oil & Gas had a return on equity of 20.78% and a net margin of 28.88%. Equities analysts expect that Magnolia Oil & Gas Co. will post 1.99 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Friday, November 8th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 25.74%.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corporation, an independent oil and natural gas company, engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. Its properties are located primarily in Karnes County and the Giddings area in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.