Magnolia Oil & Gas (NYSE:MGY) Sets New 1-Year High – What’s Next?

Magnolia Oil & Gas Corp (NYSE:MGY)’s share price reached a new 52-week high on Monday . The stock traded as high as $33.00 and last traded at $32.41, with a volume of 8619 shares changing hands. The stock had previously closed at $32.36.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Zacks Research upgraded shares of Magnolia Oil & Gas from a “hold” rating to a “strong-buy” rating in a research report on Thursday. BMO Capital Markets started coverage on shares of Magnolia Oil & Gas in a research note on Friday, January 9th. They issued an “outperform” rating and a $27.00 price objective on the stock. The Goldman Sachs Group raised their price target on Magnolia Oil & Gas from $23.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, February 11th. Truist Financial started coverage on Magnolia Oil & Gas in a research report on Tuesday, March 24th. They issued a “hold” rating and a $33.00 price target on the stock. Finally, Bank of America raised Magnolia Oil & Gas from a “neutral” rating to a “buy” rating and upped their price objective for the company from $26.00 to $28.00 in a research note on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.27.

Magnolia Oil & Gas Price Performance

The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.20. The stock has a fifty day simple moving average of $27.48 and a two-hundred day simple moving average of $24.52. The company has a market cap of $6.07 billion, a PE ratio of 18.91, a price-to-earnings-growth ratio of 2.27 and a beta of 0.89.

Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results on Thursday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. Magnolia Oil & Gas had a return on equity of 16.67% and a net margin of 24.79%.The business 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 business posted $0.44 EPS. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. On average, equities analysts predict that Magnolia Oil & Gas Corp will post 2.1 EPS 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. Shareholders of record on Tuesday, February 10th were issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 2.0%. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Tuesday, February 10th. Magnolia Oil & Gas’s dividend payout ratio is 38.37%.

Insider Buying and Selling at Magnolia Oil & Gas

In related news, CEO Christopher G. Stavros sold 119,954 shares of the business’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $29.29, for a total transaction of $3,513,452.66. Following the sale, the chief executive officer owned 883,592 shares of the company’s stock, valued at approximately $25,880,409.68. The trade was a 11.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dan F. Smith sold 18,000 shares of the company’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $29.01, for a total transaction of $522,180.00. Following the transaction, the director owned 119,204 shares in the company, valued at $3,458,108.04. The trade was a 13.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 338,954 shares of company stock worth $9,911,733. Company insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Magnolia Oil & Gas

Several institutional investors have recently modified their holdings of the company. Lido Advisors LLC raised its holdings in Magnolia Oil & Gas by 2.4% during the fourth quarter. Lido Advisors LLC now owns 16,197 shares of the company’s stock worth $382,000 after purchasing an additional 387 shares during the last quarter. Oak Family Advisors LLC raised its stake in shares of Magnolia Oil & Gas by 0.9% during the 4th quarter. Oak Family Advisors LLC now owns 47,620 shares of the company’s stock worth $1,042,000 after buying an additional 410 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Magnolia Oil & Gas by 10.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,624 shares of the company’s stock worth $102,000 after buying an additional 422 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Magnolia Oil & Gas by 8.0% in the 4th quarter. GAMMA Investing LLC now owns 6,130 shares of the company’s stock worth $134,000 after buying an additional 453 shares in the last quarter. Finally, Coldstream Capital Management Inc. grew its stake in Magnolia Oil & Gas by 3.1% in the 3rd quarter. Coldstream Capital Management Inc. now owns 15,937 shares of the company’s stock valued at $380,000 after acquiring an additional 482 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

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).