Insider Buying: Magnolia Oil & Gas Co. (NYSE:MGY) CEO Buys 2,500 Shares of Stock

Magnolia Oil & Gas Co. (NYSE:MGY - Get Free Report) CEO Christopher G. Stavros purchased 2,500 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average cost of $22.05 per share, with a total value of $55,125.00. Following the completion of the transaction, the chief executive officer now directly owns 892,372 shares of the company's stock, valued at $19,676,802.60. The trade was a 0.28 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Magnolia Oil & Gas Price Performance

NYSE:MGY traded up $0.68 during trading hours on Friday, hitting $23.28. 3,227,934 shares of the company's stock traded hands, compared to its average volume of 2,222,762. The firm has a market cap of $4.52 billion, a P/E ratio of 12.06, a P/E/G ratio of 3.01 and a beta of 1.90. Magnolia Oil & Gas Co. has a 52 week low of $21.63 and a 52 week high of $29.02. The business's fifty day simple moving average is $24.16 and its two-hundred day simple moving average is $25.12. The company has a quick ratio of 1.47, a current ratio of 1.42 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.03. The company had revenue of $326.61 million during the quarter, compared to analyst estimates of $327.40 million. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. On average, research analysts anticipate that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current fiscal year.

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Magnolia Oil & Gas Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a dividend of $0.15 per share. The ex-dividend date was Friday, February 14th. This represents a $0.60 annualized dividend and a yield of 2.58%. This is a positive change from Magnolia Oil & Gas's previous quarterly dividend of $0.13. Magnolia Oil & Gas's payout ratio is 31.09%.

Institutional Investors Weigh In On Magnolia Oil & Gas

Several hedge funds have recently added to or reduced their stakes in MGY. Harbor Capital Advisors Inc. bought a new stake in Magnolia Oil & Gas during the third quarter worth about $25,000. First Horizon Advisors Inc. lifted its stake in Magnolia Oil & Gas by 64.7% during the third quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company's stock worth $25,000 after purchasing an additional 396 shares during the last quarter. Mather Group LLC. lifted its stake in Magnolia Oil & Gas by 100.0% during the fourth quarter. Mather Group LLC. now owns 1,090 shares of the company's stock worth $25,000 after purchasing an additional 545 shares during the last quarter. Larson Financial Group LLC lifted its stake in Magnolia Oil & Gas by 112.3% during the fourth quarter. Larson Financial Group LLC now owns 1,072 shares of the company's stock worth $25,000 after purchasing an additional 567 shares during the last quarter. Finally, R Squared Ltd bought a new stake in Magnolia Oil & Gas during the fourth quarter worth about $43,000. Institutional investors own 94.73% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on MGY shares. Bank of America reissued a "neutral" rating and issued a $28.00 target price (down from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. The Goldman Sachs Group downgraded Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $27.00 to $26.00 in a research report on Friday, January 31st. Mizuho raised their target price on Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a "neutral" rating in a research report on Monday, December 16th. Johnson Rice downgraded Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, January 28th. Finally, Truist Financial raised their target price on Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $27.58.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corp. engages in the acquisition, development, exploration, and production of oil and natural gas properties. It operates assets located in the Eagle Ford Shale and Austin Chalk formations in South Texas. The company was founded on February 14, 2017 and is headquartered in Houston, TX.