Thrivent Financial for Lutherans Has $6.07 Million Stock Holdings in Magnolia Oil & Gas Corp $MGY

Thrivent Financial for Lutherans trimmed its holdings in Magnolia Oil & Gas Corp (NYSE:MGY) by 35.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 269,973 shares of the company’s stock after selling 149,368 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Magnolia Oil & Gas were worth $6,069,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of MGY. Encompass Capital Advisors LLC acquired a new stake in shares of Magnolia Oil & Gas in the 1st quarter valued at $53,819,000. American Century Companies Inc. lifted its position in shares of Magnolia Oil & Gas by 12.9% in the second quarter. American Century Companies Inc. now owns 11,861,231 shares of the company’s stock worth $266,641,000 after buying an additional 1,358,878 shares during the last quarter. Jane Street Group LLC lifted its position in shares of Magnolia Oil & Gas by 1,382.9% in the first quarter. Jane Street Group LLC now owns 1,059,335 shares of the company’s stock worth $26,759,000 after buying an additional 987,896 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Magnolia Oil & Gas by 506.2% during the 1st quarter. Millennium Management LLC now owns 1,022,836 shares of the company’s stock worth $25,837,000 after acquiring an additional 854,113 shares in the last quarter. Finally, Boston Trust Walden Corp increased its holdings in shares of Magnolia Oil & Gas by 26.0% during the 2nd quarter. Boston Trust Walden Corp now owns 4,003,770 shares of the company’s stock valued at $90,005,000 after acquiring an additional 825,162 shares during the last quarter. Institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Down 0.2%

MGY opened at $21.63 on Friday. The business has a 50 day moving average of $22.73 and a 200-day moving average of $23.38. The stock has a market capitalization of $4.08 billion, a price-to-earnings ratio of 12.08, a P/E/G ratio of 2.93 and a beta of 0.93. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas Corp has a 1-year low of $19.09 and a 1-year high of $26.84.

Magnolia Oil & Gas (NYSE:MGY) last released its earnings results on Wednesday, October 29th. The company reported $0.41 EPS for the quarter, meeting the consensus estimate of $0.41. Magnolia Oil & Gas had a net margin of 25.90% and a return on equity of 18.10%. The firm had revenue of $324.94 million during the quarter, compared to analysts’ expectations of $322.52 million. During the same period in the prior year, the company earned $0.52 EPS. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 10th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.8%. Magnolia Oil & Gas’s dividend payout ratio is currently 33.52%.

Analysts Set New Price Targets

MGY has been the subject of several analyst reports. Piper Sandler reduced their target price on Magnolia Oil & Gas from $25.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, November 18th. Mizuho set a $29.00 price objective on shares of Magnolia Oil & Gas in a research note on Friday, December 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Magnolia Oil & Gas in a report on Wednesday, October 8th. KeyCorp set a $29.00 target price on shares of Magnolia Oil & Gas and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Finally, William Blair assumed coverage on shares of Magnolia Oil & Gas in a research report on Monday, August 25th. They set an “outperform” rating for the company. Six analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Magnolia Oil & Gas has a consensus rating of “Hold” and a consensus target price of $26.50.

Magnolia Oil & Gas Profile

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).