Mutual of America Capital Management LLC Buys Shares of 173,797 Magnolia Oil & Gas Co. (NYSE:MGY)

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Mutual of America Capital Management LLC bought a new stake in shares of Magnolia Oil & Gas Co. (NYSE:MGYGet Rating) in the first quarter, HoldingsChannel reports. The institutional investor bought 173,797 shares of the company’s stock, valued at approximately $4,110,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. State of New Jersey Common Pension Fund D purchased a new stake in shares of Magnolia Oil & Gas in the fourth quarter worth $2,769,000. Allianz Asset Management GmbH increased its stake in shares of Magnolia Oil & Gas by 51.2% in the fourth quarter. Allianz Asset Management GmbH now owns 210,030 shares of the company’s stock worth $3,963,000 after purchasing an additional 71,142 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of Magnolia Oil & Gas by 76.6% in the fourth quarter. ProShare Advisors LLC now owns 31,507 shares of the company’s stock worth $595,000 after purchasing an additional 13,666 shares in the last quarter. Northern Trust Corp increased its stake in shares of Magnolia Oil & Gas by 0.7% in the fourth quarter. Northern Trust Corp now owns 1,509,132 shares of the company’s stock worth $28,478,000 after purchasing an additional 10,890 shares in the last quarter. Finally, Empowered Funds LLC purchased a new stake in shares of Magnolia Oil & Gas in the fourth quarter worth $6,705,000. 96.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on MGY shares. Susquehanna Bancshares increased their price objective on shares of Magnolia Oil & Gas from $24.00 to $29.00 and gave the stock a “positive” rating in a research note on Monday, April 25th. MKM Partners reaffirmed a “buy” rating and set a $26.00 target price on shares of Magnolia Oil & Gas in a research note on Wednesday, July 20th. KeyCorp raised their target price on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Thursday, April 14th. Truist Financial raised their target price on shares of Magnolia Oil & Gas from $35.00 to $39.00 and gave the company a “buy” rating in a research note on Tuesday, July 19th. Finally, Susquehanna raised their target price on shares of Magnolia Oil & Gas from $24.00 to $29.00 and gave the company a “positive” rating in a research note on Monday, April 25th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Magnolia Oil & Gas presently has an average rating of “Moderate Buy” and a consensus target price of $27.50.

Magnolia Oil & Gas Price Performance

MGY stock opened at $22.49 on Tuesday. Magnolia Oil & Gas Co. has a 52 week low of $12.79 and a 52 week high of $30.31. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 0.36. The company has a fifty day simple moving average of $23.93 and a two-hundred day simple moving average of $23.26. The firm has a market capitalization of $5.02 billion, a P/E ratio of 7.84 and a beta of 2.16.

Magnolia Oil & Gas (NYSE:MGYGet Rating) last released its quarterly earnings data on Monday, May 9th. The company reported $0.90 EPS for the quarter, meeting the consensus estimate of $0.90. Magnolia Oil & Gas had a net margin of 41.80% and a return on equity of 55.08%. The business had revenue of $377.84 million during the quarter, compared to analyst estimates of $374.63 million. During the same quarter last year, the business earned $0.38 earnings per share. Magnolia Oil & Gas’s quarterly revenue was up 80.7% compared to the same quarter last year. Analysts anticipate that Magnolia Oil & Gas Co. will post 4.51 earnings per share for the current fiscal year.

Insider Transactions at Magnolia Oil & Gas

In other news, Director Ltd. Enervest sold 7,500,000 shares of the firm’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $27.01, for a total value of $202,575,000.00. Following the completion of the sale, the director now owns 10,912,450 shares in the company, valued at approximately $294,745,274.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.80% of the company’s stock.

Magnolia Oil & Gas Profile

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Magnolia Oil & Gas Corporation 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 Field in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.

Further Reading

Want to see what other hedge funds are holding MGY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Magnolia Oil & Gas Co. (NYSE:MGYGet Rating).

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