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 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 $4,393,500.00. Following the sale, the executive vice president directly owned 526,661 shares of the company’s stock, valued at approximately $15,425,900.69. This represents a 22.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Magnolia Oil & Gas Stock Performance

NYSE MGY traded up $0.28 during trading hours on Wednesday, reaching $29.03. The company’s stock had a trading volume of 4,097,754 shares, compared to its average volume of 3,160,696. 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 business has a 50-day simple moving average of $25.31 and a 200 day simple moving average of $23.95. Magnolia Oil & Gas Corp has a 52 week low of $19.09 and a 52 week high of $29.74. The stock has a market cap of $5.41 billion, a PE ratio of 16.88 and a beta of 0.89.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings results on Thursday, February 5th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. The business had revenue of $317.63 million for the quarter, compared to analysts’ expectations of $322.18 million. Magnolia Oil & Gas had a return on equity of 16.67% and a net margin of 24.79%.The business’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.44 EPS. Equities research analysts predict that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Shareholders 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. 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 is 38.37%.

Wall Street Analysts Forecast Growth

MGY has been the subject of several analyst reports. Bank of America raised shares of Magnolia Oil & Gas from a “neutral” rating to a “buy” rating and boosted their price target for the company from $26.00 to $28.00 in a report on Friday, January 16th. Piper Sandler lifted their price objective on shares of Magnolia Oil & Gas from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, March 5th. The Goldman Sachs Group boosted their target price on shares of Magnolia Oil & Gas from $23.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, February 11th. Susquehanna decreased their target price on shares of Magnolia Oil & Gas from $30.00 to $28.00 and set a “positive” rating for the company in a research report on Monday, January 26th. Finally, Wells Fargo & Company set a $25.00 price target on shares of Magnolia Oil & Gas in a research note on Monday, February 16th. Eight investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Magnolia Oil & Gas presently has an average rating of “Hold” and an average target price of $28.18.

Hedge Funds Weigh In On Magnolia Oil & Gas

Large investors have recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Magnolia Oil & Gas by 236.2% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,190 shares of the company’s stock worth $27,000 after acquiring an additional 836 shares during the period. Mather Group LLC. bought a new stake in Magnolia Oil & Gas during the third quarter worth approximately $31,000. Salomon & Ludwin LLC lifted its position in Magnolia Oil & Gas by 130.1% in the fourth quarter. Salomon & Ludwin LLC now owns 1,344 shares of the company’s stock worth $29,000 after purchasing an additional 760 shares during the period. EverSource Wealth Advisors LLC lifted its position in Magnolia Oil & Gas by 165.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock worth $31,000 after purchasing an additional 864 shares during the period. Finally, Torren Management LLC bought a new position in Magnolia Oil & Gas during the 4th quarter valued at $38,000. Institutional investors and hedge funds 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).