Shares of Magnolia Oil & Gas Co. (NYSE:MGY - Get Free Report) reached a new 52-week low during trading on Thursday . The company traded as low as $19.09 and last traded at $22.23, with a volume of 4891384 shares. The stock had previously closed at $19.60.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the company. Johnson Rice cut Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a report on Tuesday, January 28th. Piper Sandler increased their price target on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 29th. Bank of America reissued a "neutral" rating and set a $28.00 target price (down from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. Mizuho upped their price objective on Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a "neutral" rating in a research note on Monday, December 16th. Finally, Williams Trading set a $29.00 target price on Magnolia Oil & Gas in a research report on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $27.54.
View Our Latest Stock Analysis on MGY
Magnolia Oil & Gas Stock Performance
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 firm has a market cap of $3.96 billion, a PE ratio of 10.56, a P/E/G ratio of 3.01 and a beta of 1.57. The company's 50-day moving average is $23.38 and its 200 day moving average is $24.86.
Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last released its earnings results on Tuesday, February 18th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.46 by $0.03. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. The company had revenue of $326.61 million during the quarter, compared to analyst estimates of $327.40 million. As a group, sell-side analysts predict that Magnolia Oil & Gas Co. will post 2.1 EPS for the current year.
Magnolia Oil & Gas Increases Dividend
The firm also recently announced 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. This represents a $0.60 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from Magnolia Oil & Gas's previous quarterly dividend of $0.13. Magnolia Oil & Gas's payout ratio is 31.09%.
Insider Activity
In related news, CEO Christopher G. Stavros bought 2,500 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was bought at an average price of $22.05 per share, with a total value of $55,125.00. Following the purchase, the chief executive officer now directly owns 892,372 shares of the company's stock, valued at approximately $19,676,802.60. This represents a 0.28 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.20% of the stock is owned by corporate insiders.
Institutional Trading of Magnolia Oil & Gas
Several hedge funds and other institutional investors have recently modified their holdings of MGY. Mather Group LLC. increased its position in 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. Larson Financial Group LLC grew its stake in shares of Magnolia Oil & Gas by 112.3% in the 4th quarter. Larson Financial Group LLC now owns 1,072 shares of the company's stock valued at $25,000 after buying an additional 567 shares in the last quarter. R Squared Ltd acquired a new position in Magnolia Oil & Gas in the fourth quarter worth approximately $43,000. Quarry LP raised its position in Magnolia Oil & Gas by 1,047.8% during the fourth quarter. Quarry LP now owns 2,135 shares of the company's stock valued at $50,000 after acquiring an additional 1,949 shares in 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 acquiring an additional 506 shares during the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.
About Magnolia Oil & Gas
(
Get Free Report)
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.
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