State of Alaska Department of Revenue Has $2.54 Million Stock Position in Magnolia Oil & Gas Co. (NYSE:MGY)

State of Alaska Department of Revenue raised its stake in Magnolia Oil & Gas Co. (NYSE:MGY) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,570 shares of the company’s stock after buying an additional 1,195 shares during the period. State of Alaska Department of Revenue owned 0.06% of Magnolia Oil & Gas worth $2,538,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. acquired a new stake in Magnolia Oil & Gas in the third quarter valued at approximately $25,000. First Horizon Advisors Inc. grew its stake in shares of Magnolia Oil & Gas by 64.7% in the third quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock worth $25,000 after purchasing an additional 396 shares during the last quarter. Mather Group LLC. increased its holdings in Magnolia Oil & Gas by 100.0% in the fourth quarter. Mather Group LLC. now owns 1,090 shares of the company’s stock valued at $25,000 after purchasing an additional 545 shares during the period. R Squared Ltd bought a new position in Magnolia Oil & Gas during the 4th quarter worth $43,000. Finally, Avior Wealth Management LLC lifted its holdings in Magnolia Oil & Gas by 30.0% during the 4th quarter. Avior Wealth Management LLC now owns 2,194 shares of the company’s stock worth $51,000 after buying an additional 506 shares during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Trading Up 4.1 %

NYSE MGY opened at $23.72 on Tuesday. The business has a 50 day simple moving average of $24.71 and a 200 day simple moving average of $25.35. Magnolia Oil & Gas Co. has a one year low of $20.08 and a one year high of $29.02. The stock has a market capitalization of $4.66 billion, a P/E ratio of 11.74, a P/E/G ratio of 2.85 and a beta of 1.98. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.47 and a quick ratio of 1.47.

Magnolia Oil & Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Friday, February 14th. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 29.70%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MGY. Truist Financial increased their price target on Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Bank of America restated a “neutral” rating and set a $28.00 price objective (down from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Johnson Rice downgraded Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Mizuho raised their price objective on Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Finally, Benchmark restated a “hold” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $27.58.

Magnolia Oil & Gas 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.