Magnolia Oil & Gas (NYSE:MGY) Sets New 12-Month Low - Time to Sell?

Magnolia Oil & Gas Co. (NYSE:MGY - Get Free Report)'s stock price hit a new 52-week low on Monday . The stock traded as low as $22.46 and last traded at $22.53, with a volume of 680530 shares trading hands. The stock had previously closed at $23.41.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MGY. Johnson Rice lowered shares of Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, January 28th. The Goldman Sachs Group cut Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $27.00 to $26.00 in a research report on Friday, January 31st. Bank of America reissued a "neutral" rating and issued a $28.00 price target (down from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. Piper Sandler upped their price objective on Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a "neutral" rating in a report on Wednesday, January 29th. Finally, Truist Financial raised their target price on Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a "buy" rating in a report on Monday, January 13th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Magnolia Oil & Gas presently has an average rating of "Hold" and a consensus price target of $27.58.

Magnolia Oil & Gas Trading Up 3.0 %

The business has a 50 day moving average of $24.15 and a 200 day moving average of $25.13. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of 12.06, a price-to-earnings-growth ratio of 3.01 and a beta of 1.90. The company has a quick ratio of 1.47, a current ratio of 1.42 and a debt-to-equity ratio of 0.20.

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Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.49 EPS for the quarter, topping analysts' consensus estimates of $0.46 by $0.03. The business had revenue of $326.61 million during the quarter, compared to the consensus estimate of $327.40 million. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. On average, research analysts forecast that Magnolia Oil & Gas Co. 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 3rd. Shareholders of record on Friday, February 14th were paid a $0.15 dividend. This is a boost from Magnolia Oil & Gas's previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend was Friday, February 14th. Magnolia Oil & Gas's payout ratio is presently 31.09%.

Insiders Place Their Bets

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros purchased 2,500 shares of the stock in a transaction on Monday, March 3rd. The stock was bought at an average price of $22.05 per share, for a total transaction of $55,125.00. Following the acquisition, the chief executive officer now directly owns 892,372 shares of the company's stock, valued at $19,676,802.60. This represents a 0.28 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.20% of the company's stock.

Institutional Investors Weigh In On Magnolia Oil & Gas

Hedge funds have recently modified their holdings of the stock. Harbor Capital Advisors Inc. acquired a new position in Magnolia Oil & Gas during the third quarter worth approximately $25,000. First Horizon Advisors Inc. increased its holdings in shares of Magnolia Oil & Gas by 64.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company's stock worth $25,000 after buying an additional 396 shares during the last quarter. Mather Group LLC. raised 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 buying an additional 545 shares during the period. Larson Financial Group LLC boosted its holdings in Magnolia Oil & Gas by 112.3% in the fourth quarter. Larson Financial Group LLC now owns 1,072 shares of the company's stock valued at $25,000 after acquiring an additional 567 shares during the last quarter. Finally, R Squared Ltd acquired a new position in Magnolia Oil & Gas in the fourth quarter valued at $43,000. 94.73% of the stock is owned by institutional investors and hedge funds.

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.