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 the stock in a transaction that occurred on 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 transaction, the director owned 119,204 shares in the company, valued at $3,458,108.04. This represents a 13.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Magnolia Oil & Gas Stock Up 1.0%

Shares of Magnolia Oil & Gas stock traded up $0.28 during trading hours on Wednesday, hitting $29.03. The company had a trading volume of 4,097,754 shares, compared to its average volume of 3,160,696. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.54 and a quick ratio of 1.54. The company’s 50-day moving average is $25.31 and its two-hundred day moving average is $23.95. The company has a market cap of $5.41 billion, a P/E ratio of 16.88 and a beta of 0.89. Magnolia Oil & Gas Corp has a twelve month low of $19.09 and a twelve month high of $29.74.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings results on Thursday, February 5th. The company reported $0.37 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $322.18 million. During the same period last year, the business earned $0.44 EPS. Magnolia Oil & Gas’s revenue for the quarter was down 2.8% compared to the same quarter last year. 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 company also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Tuesday, February 10th were given a $0.165 dividend. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Tuesday, February 10th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.3%. Magnolia Oil & Gas’s payout ratio is currently 38.37%.

Analysts Set New Price Targets

Several research analysts have commented on MGY shares. BMO Capital Markets started coverage on Magnolia Oil & Gas in a research report on Friday, January 9th. They set an “outperform” rating and a $27.00 price target on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Magnolia Oil & Gas in a research report on Thursday, January 22nd. Piper Sandler lifted their target price on shares of Magnolia Oil & Gas from $26.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, March 5th. Wells Fargo & Company set a $25.00 price target on shares of Magnolia Oil & Gas in a research report on Monday, February 16th. Finally, Roth Mkm reissued a “buy” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, February 10th. Eight analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Magnolia Oil & Gas currently has a consensus rating of “Hold” and an average price target of $28.18.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of MGY. American Century Companies Inc. increased its holdings in shares of Magnolia Oil & Gas by 12.9% in the second quarter. American Century Companies Inc. now owns 11,861,231 shares of the company’s stock valued at $266,641,000 after purchasing an additional 1,358,878 shares during the period. State Street Corp lifted its holdings in shares of Magnolia Oil & Gas by 1.4% during the fourth quarter. State Street Corp now owns 8,800,807 shares of the company’s stock worth $192,650,000 after purchasing an additional 125,707 shares during the period. Dimensional Fund Advisors LP grew its position in Magnolia Oil & Gas by 4.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,634,362 shares of the company’s stock valued at $145,230,000 after buying an additional 264,649 shares during the last quarter. TD Asset Management Inc grew its position in Magnolia Oil & Gas by 26.6% in the 4th quarter. TD Asset Management Inc now owns 5,671,819 shares of the company’s stock valued at $124,156,000 after buying an additional 1,193,458 shares during the last quarter. Finally, Epoch Investment Partners Inc. increased its stake in Magnolia Oil & Gas by 28.8% in the 4th quarter. Epoch Investment Partners Inc. now owns 5,330,064 shares of the company’s stock valued at $116,675,000 after buying an additional 1,191,438 shares during the period. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

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).