Timothy Yang Sells 150,000 Shares of Magnolia Oil & Gas (NYSE:MGY) Stock

Magnolia Oil & Gas Corp (NYSE:MGY) EVP Timothy Yang sold 150,000 shares of the company’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $29.29, for a total value of $4,393,500.00. Following the completion of the sale, the executive vice president owned 526,661 shares of the company’s stock, valued at approximately $15,425,900.69. This trade represents a 22.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Magnolia Oil & Gas Price Performance

NYSE:MGY traded up $0.28 during mid-day trading on Wednesday, reaching $29.03. 4,097,754 shares of the stock were exchanged, compared to its average volume of 3,160,696. The business has a fifty day moving average price of $25.31 and a 200 day moving average price of $23.95. 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 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 issued its quarterly earnings results on Thursday, February 5th. The company reported $0.37 earnings per share 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 company had revenue of $317.63 million during the quarter, compared to the consensus estimate of $322.18 million. During the same period in the prior year, the company earned $0.44 EPS. Magnolia Oil & Gas’s revenue was down 2.8% on a year-over-year basis. Research analysts expect 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 announced a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Tuesday, February 10th were paid a dividend of $0.165 per share. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.15. This represents a $0.66 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Tuesday, February 10th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 38.37%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MGY. KeyCorp increased their price objective on Magnolia Oil & Gas from $29.00 to $30.00 and gave the company an “overweight” rating in a research report on Monday, February 9th. Piper Sandler boosted their target price on Magnolia Oil & Gas from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Magnolia Oil & Gas in a report on Thursday, January 22nd. The Goldman Sachs Group increased their price target on Magnolia Oil & Gas from $23.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, February 11th. Finally, BMO Capital Markets began coverage on Magnolia Oil & Gas in a report on Friday, January 9th. They set an “outperform” rating and a $27.00 price objective on the stock. Eight equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $28.18.

Institutional Investors Weigh In On Magnolia Oil & Gas

A number of institutional investors have recently bought and sold shares of MGY. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake 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 increased its stake in Magnolia Oil & Gas by 130.1% in the 4th quarter. Salomon & Ludwin LLC now owns 1,344 shares of the company’s stock valued at $29,000 after buying an additional 760 shares during the period. Mather Group LLC. acquired a new position in Magnolia Oil & Gas in the 3rd quarter valued at approximately $31,000. EverSource Wealth Advisors LLC lifted its position in Magnolia Oil & Gas by 165.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock worth $31,000 after buying an additional 864 shares in the last quarter. Finally, Torren Management LLC purchased a new stake in Magnolia Oil & Gas in the 4th quarter worth approximately $38,000. 94.73% of the stock is currently owned by institutional investors and hedge funds.

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).