David Khani Purchases 8,000 Shares of Magnolia Oil & Gas (NYSE:MGY) Stock

Magnolia Oil & Gas Corp (NYSE:MGY) Director David Khani purchased 8,000 shares of Magnolia Oil & Gas stock in a transaction dated Friday, August 7th. The shares were purchased at an average cost of $25.00 per share, for a total transaction of $200,000.00. Following the transaction, the director owned 30,622 shares in the company, valued at approximately $765,550. This trade represents a 35.36% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Magnolia Oil & Gas Trading Up 0.2%

MGY traded up $0.06 during trading hours on Tuesday, reaching $26.07. The company’s stock had a trading volume of 3,102,067 shares, compared to its average volume of 3,419,811. The stock has a market cap of $4.82 billion, a PE ratio of 11.43 and a beta of 0.72. Magnolia Oil & Gas Corp has a fifty-two week low of $21.07 and a fifty-two week high of $32.76. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.58 and a quick ratio of 1.58. The business’s 50-day moving average is $26.15 and its 200-day moving average is $27.65.

Magnolia Oil & Gas (NYSE:MGY) last posted its earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.06. Magnolia Oil & Gas had a return on equity of 21.04% and a net margin of 28.77%.The company had revenue of $478.81 million during the quarter, compared to analysts’ expectations of $458.10 million. During the same quarter last year, the firm earned $0.41 earnings per share. The firm’s quarterly revenue was up 50.1% compared to the same quarter last year. As a group, equities research analysts predict that Magnolia Oil & Gas Corp will post 2.81 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 10th will be issued a $0.18 dividend. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.17. The ex-dividend date is Monday, August 10th. This represents a $0.72 annualized dividend and a yield of 2.8%. Magnolia Oil & Gas’s payout ratio is presently 28.95%.

Hedge Funds Weigh In On Magnolia Oil & Gas

Several large investors have recently bought and sold shares of MGY. Foster Victor Wealth Advisors LLC lifted its stake in Magnolia Oil & Gas by 9.2% during the fourth quarter. Foster Victor Wealth Advisors LLC now owns 417,192 shares of the company’s stock worth $9,429,000 after purchasing an additional 35,223 shares during the last quarter. Bessemer Group Inc. increased its stake in Magnolia Oil & Gas by 22.4% in the fourth quarter. Bessemer Group Inc. now owns 1,116,993 shares of the company’s stock valued at $24,452,000 after purchasing an additional 204,467 shares during the last quarter. Diamond Hill Capital Management Inc. increased its stake in Magnolia Oil & Gas by 210.5% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 414,817 shares of the company’s stock valued at $9,080,000 after purchasing an additional 281,234 shares during the last quarter. TD Asset Management Inc raised its holdings in Magnolia Oil & Gas by 26.6% during the fourth quarter. TD Asset Management Inc now owns 5,671,819 shares of the company’s stock worth $124,156,000 after purchasing an additional 1,193,458 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd lifted its position in shares of Magnolia Oil & Gas by 481.9% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 153,445 shares of the company’s stock worth $4,844,000 after buying an additional 127,077 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on MGY shares. Susquehanna lifted their price target on shares of Magnolia Oil & Gas from $36.00 to $37.00 and gave the company a “positive” rating in a research report on Tuesday. Truist Financial raised shares of Magnolia Oil & Gas from a “hold” rating to a “buy” rating and increased their price objective for the stock from $32.00 to $33.00 in a research report on Tuesday, July 28th. Zacks Research lowered Magnolia Oil & Gas from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 19th. Mizuho upgraded Magnolia Oil & Gas to a “strong-buy” rating in a research note on Friday, July 31st. Finally, Wells Fargo & Company lowered their price target on Magnolia Oil & Gas from $32.00 to $31.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, Magnolia Oil & Gas presently has an average rating of “Moderate Buy” and an average target price of $31.17.

About Magnolia Oil & Gas

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).