Magnolia Oil & Gas (NYSE:MGY) Sets New 1-Year Low - Should You Sell?

Magnolia Oil & Gas Co. (NYSE:MGY - Get Free Report)'s stock price hit a new 52-week low on Friday . The stock traded as low as $21.14 and last traded at $21.07, with a volume of 334393 shares traded. The stock had previously closed at $23.51.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. JPMorgan Chase & Co. cut their target price on Magnolia Oil & Gas from $28.00 to $24.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Piper Sandler raised their price objective on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a "neutral" rating in a report on Wednesday, January 29th. Truist Financial upped their target price on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a "buy" rating in a research note on Monday, January 13th. The Goldman Sachs Group cut shares of Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and cut their price target for the stock from $27.00 to $26.00 in a research note on Friday, January 31st. Finally, Mizuho upped their price objective on Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a "neutral" rating in a research note on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $27.54.

Magnolia Oil & Gas Price Performance

The stock has a fifty day moving average of $23.60 and a two-hundred day moving average of $24.97. The company has a current ratio of 1.42, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 11.52, a PEG ratio of 3.01 and a beta of 1.57.

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Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last announced its earnings results on Tuesday, February 18th. The company reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates 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%. As a group, equities research analysts forecast that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a dividend of $0.15 per share. This is a boost from Magnolia Oil & Gas's previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend was Friday, February 14th. Magnolia Oil & Gas's dividend payout ratio is 31.09%.

Insider Activity at Magnolia Oil & Gas

In other news, CEO Christopher G. Stavros acquired 2,500 shares of the company's stock in a transaction on Monday, March 3rd. The stock was purchased at an average cost of $22.05 per share, with a total value of $55,125.00. Following the acquisition, the chief executive officer now owns 892,372 shares of the company's stock, valued at $19,676,802.60. This trade represents a 0.28 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Magnolia Oil & Gas

Institutional investors and hedge funds have recently modified their holdings of the business. Larson Financial Group LLC grew its holdings in Magnolia Oil & Gas by 112.3% during the 4th quarter. Larson Financial Group LLC now owns 1,072 shares of the company's stock worth $25,000 after acquiring an additional 567 shares during the period. Mather Group LLC. boosted its position in shares of Magnolia Oil & Gas by 100.0% in the 4th 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. R Squared Ltd acquired a new stake in shares of Magnolia Oil & Gas during the fourth quarter worth $43,000. Quarry LP increased its holdings in Magnolia Oil & Gas by 1,047.8% in the fourth quarter. Quarry LP now owns 2,135 shares of the company's stock valued at $50,000 after purchasing an additional 1,949 shares during the last quarter. Finally, Avior Wealth Management LLC lifted its stake in Magnolia Oil & Gas by 30.0% in the fourth quarter. Avior Wealth Management LLC now owns 2,194 shares of the company's stock valued at $51,000 after buying an additional 506 shares during the period. 94.73% of the stock is owned by institutional investors.

Magnolia Oil & Gas Company Profile

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.