Traders Buy Large Volume of Magnolia Oil & Gas Call Options (NYSE:MGY)


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Magnolia Oil & Gas Co. (NYSE:MGY) was the recipient of unusually large options trading on Wednesday. Stock investors bought 7,218 call options on the stock. This is an increase of 1,401% compared to the typical volume of 481 call options.

Magnolia Oil & Gas stock opened at $8.69 on Thursday. Magnolia Oil & Gas has a one year low of $3.23 and a one year high of $12.61. The business has a fifty day moving average price of $7.49 and a 200-day moving average price of $6.24. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.73 and a quick ratio of 1.73. The firm has a market capitalization of $2.18 billion, a P/E ratio of -1.18 and a beta of 2.71.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings data on Thursday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.01. Magnolia Oil & Gas had a negative return on equity of 1.06% and a negative net margin of 199.68%. The company had revenue of $121.07 million for the quarter, compared to the consensus estimate of $128.77 million. Sell-side analysts expect that Magnolia Oil & Gas will post -0.02 earnings per share for the current fiscal year.

In related news, CEO Stephen I. Chazen acquired 40,000 shares of the stock in a transaction dated Thursday, November 19th. The stock was purchased at an average cost of $5.77 per share, with a total value of $230,800.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.57% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. Aigen Investment Management LP purchased a new position in shares of Magnolia Oil & Gas in the third quarter worth about $131,000. Sei Investments Co. grew its stake in shares of Magnolia Oil & Gas by 51.7% in the third quarter. Sei Investments Co. now owns 398,585 shares of the company’s stock worth $2,060,000 after purchasing an additional 135,812 shares during the last quarter. California Public Employees Retirement System grew its stake in shares of Magnolia Oil & Gas by 23.4% in the second quarter. California Public Employees Retirement System now owns 277,243 shares of the company’s stock worth $1,680,000 after purchasing an additional 52,532 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Magnolia Oil & Gas by 90.5% in the second quarter. Principal Financial Group Inc. now owns 20,156 shares of the company’s stock worth $122,000 after purchasing an additional 9,576 shares during the last quarter. Finally, Engineers Gate Manager LP bought a new stake in shares of Magnolia Oil & Gas in the second quarter worth about $88,000. Institutional investors own 62.30% of the company’s stock.

Several brokerages have recently commented on MGY. MKM Partners downgraded Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $6.00 to $7.00 in a research note on Monday, November 30th. ValuEngine raised Magnolia Oil & Gas from a “hold” rating to a “buy” rating in a report on Tuesday, December 1st. Credit Suisse Group reduced their target price on Magnolia Oil & Gas from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Monday, November 9th. KeyCorp upped their target price on Magnolia Oil & Gas from $8.00 to $9.00 and gave the company an “overweight” rating in a report on Thursday, January 7th. Finally, BidaskClub raised Magnolia Oil & Gas from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 9th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Magnolia Oil & Gas has a consensus rating of “Buy” and an average price target of $7.40.

Magnolia Oil & Gas Company Profile

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. The company's 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.

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