Magnolia Oil & Gas (NYSE:MGY) Director Dan Smith Sells 18,000 Shares

Magnolia Oil & Gas Corp (NYSE:MGY) Director Dan Smith sold 18,000 shares of Magnolia Oil & Gas stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $29.01, for a total transaction of $522,180.00. Following the completion of the sale, the director directly owned 119,204 shares in the company, valued at approximately $3,458,108.04. The trade was a 13.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Magnolia Oil & Gas Stock Performance

Shares of Magnolia Oil & Gas stock traded up $0.28 on Wednesday, reaching $29.03. 4,097,754 shares of the stock were exchanged, compared to its average volume of 3,160,696. The firm has a market capitalization of $5.41 billion, a PE ratio of 16.88 and a beta of 0.89. Magnolia Oil & Gas Corp has a 1-year low of $19.09 and a 1-year high of $29.74. The business has a fifty day moving average price of $25.31 and a two-hundred day moving average price of $23.95. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Thursday, February 5th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. Magnolia Oil & Gas had a net margin of 24.79% and a return on equity of 16.67%. The firm had revenue of $317.63 million during the quarter, compared to the consensus estimate of $322.18 million. During the same quarter last year, the firm earned $0.44 earnings per share. The firm’s revenue was down 2.8% compared to the same quarter last year. As a group, research analysts anticipate that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Tuesday, February 10th were issued a $0.165 dividend. The ex-dividend date of this dividend was Tuesday, February 10th. This represents a $0.66 annualized dividend and a dividend yield of 2.3%. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.15. Magnolia Oil & Gas’s payout ratio is 38.37%.

Institutional Investors Weigh In On Magnolia Oil & Gas

A number of large investors have recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Magnolia Oil & Gas by 236.2% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,190 shares of the company’s stock valued at $27,000 after acquiring an additional 836 shares in the last quarter. Salomon & Ludwin LLC lifted its holdings in shares of Magnolia Oil & Gas by 130.1% in the fourth quarter. Salomon & Ludwin LLC now owns 1,344 shares of the company’s stock valued at $29,000 after purchasing an additional 760 shares in the last quarter. Mather Group LLC. acquired a new stake in shares of Magnolia Oil & Gas in the third quarter valued at approximately $31,000. EverSource Wealth Advisors LLC grew its position in shares of Magnolia Oil & Gas by 165.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock valued at $31,000 after purchasing an additional 864 shares during the last quarter. Finally, Torren Management LLC purchased a new position in shares of Magnolia Oil & Gas during the 4th quarter worth approximately $38,000. 94.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MGY has been the topic of several research analyst reports. BMO Capital Markets started coverage on shares of Magnolia Oil & Gas in a research report on Friday, January 9th. They set an “outperform” rating and a $27.00 target price on the stock. KeyCorp increased their price target on shares of Magnolia Oil & Gas from $29.00 to $30.00 and gave the company an “overweight” rating in a report on Monday, February 9th. The Goldman Sachs Group boosted their price objective on shares of Magnolia Oil & Gas from $23.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, February 11th. Bank of America raised shares of Magnolia Oil & Gas from a “neutral” rating to a “buy” rating and increased their target price for the company from $26.00 to $28.00 in a report on Friday, January 16th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Magnolia Oil & Gas in a research note on Thursday, January 22nd. Eight equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $28.18.

Magnolia Oil & Gas Company 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).