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

Thrivent Financial for Lutherans trimmed its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 10.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 557,975 shares of the company’s stock after selling 65,363 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Magnolia Oil & Gas were worth $14,139,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MGY. Nordea Investment Management AB lifted its stake in shares of Magnolia Oil & Gas by 37.1% in the first quarter. Nordea Investment Management AB now owns 521,702 shares of the company’s stock worth $13,387,000 after buying an additional 141,046 shares in the last quarter. Maryland State Retirement & Pension System purchased a new position in shares of Magnolia Oil & Gas in the first quarter worth about $1,721,000. Texas Permanent School Fund Corp purchased a new position in shares of Magnolia Oil & Gas in the first quarter worth about $4,207,000. Vanguard Group Inc. lifted its stake in shares of Magnolia Oil & Gas by 16.6% in the first quarter. Vanguard Group Inc. now owns 20,757,369 shares of the company’s stock worth $538,654,000 after buying an additional 2,956,314 shares in the last quarter. Finally, Wasatch Advisors LP lifted its stake in shares of Magnolia Oil & Gas by 2.2% in the fourth quarter. Wasatch Advisors LP now owns 3,679,262 shares of the company’s stock worth $78,331,000 after buying an additional 77,733 shares in the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

Magnolia Oil & Gas Trading Down 2.7 %

Shares of MGY stock opened at $25.58 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.28 and a current ratio of 1.28. The stock has a market capitalization of $5.19 billion, a P/E ratio of 12.73, a price-to-earnings-growth ratio of 1.18 and a beta of 2.00. The company has a 50 day moving average price of $25.11 and a 200 day moving average price of $25.31. Magnolia Oil & Gas Co. has a fifty-two week low of $19.16 and a fifty-two week high of $27.63.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. The firm had revenue of $336.73 million during the quarter, compared to analysts’ expectations of $340.72 million. Magnolia Oil & Gas had a net margin of 29.44% and a return on equity of 21.18%. Equities research analysts predict that Magnolia Oil & Gas Co. will post 2.08 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were paid a $0.13 dividend. The ex-dividend date was Friday, August 9th. This represents a $0.52 dividend on an annualized basis and a yield of 2.03%. Magnolia Oil & Gas’s dividend payout ratio is currently 25.87%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Wolfe Research assumed coverage on shares of Magnolia Oil & Gas in a research note on Thursday, July 18th. They issued an “outperform” rating and a $32.00 price target on the stock. Mizuho cut their price objective on shares of Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Piper Sandler cut their price objective on shares of Magnolia Oil & Gas from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. Capital One Financial began coverage on shares of Magnolia Oil & Gas in a research report on Tuesday, June 11th. They set an “overweight” rating and a $28.00 price objective for the company. Finally, JPMorgan Chase & Co. cut their price objective on shares of Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $28.00.

About Magnolia Oil & Gas

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.