Magnolia Oil & Gas (NYSE:MGY) Stock Price Down 3.8% - Time to Sell?

Magnolia Oil & Gas Co. (NYSE:MGY - Get Free Report)'s share price dropped 3.8% on Friday . The stock traded as low as $25.59 and last traded at $25.63. Approximately 59,437 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 2,440,301 shares. The stock had previously closed at $26.65.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Susquehanna reduced their target price on Magnolia Oil & Gas from $33.00 to $32.00 and set a "positive" rating on the stock in a report on Wednesday, September 4th. Benchmark restated a "hold" rating on shares of Magnolia Oil & Gas in a research note on Tuesday, October 15th. Siebert Williams Shank lowered shares of Magnolia Oil & Gas from a "buy" rating to a "hold" rating and set a $30.00 target price for the company. in a research note on Tuesday, October 15th. Mizuho dropped their target price on shares of Magnolia Oil & Gas from $28.00 to $27.00 and set a "neutral" rating on the stock in a report on Monday, September 16th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Magnolia Oil & Gas from $26.00 to $23.00 and set a "neutral" rating for the company in a report on Thursday, September 12th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $27.67.

Magnolia Oil & Gas Trading Down 3.7 %

The firm's 50-day simple moving average is $26.58 and its 200 day simple moving average is $25.62. The stock has a market cap of $5.05 billion, a P/E ratio of 12.71, a PEG ratio of 1.35 and a beta of 1.99. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.48 by $0.04. The business had revenue of $333.14 million during the quarter, compared to analyst estimates of $331.45 million. Magnolia Oil & Gas had a return on equity of 20.78% and a net margin of 28.88%. As a group, equities research analysts anticipate that Magnolia Oil & Gas Co. will post 1.99 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend was Friday, November 8th. Magnolia Oil & Gas's dividend payout ratio (DPR) is 25.74%.

Insider Activity at Magnolia Oil & Gas

In related news, Director Ltd. Enervest sold 7,000,000 shares of the firm's stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $25.86, for a total transaction of $181,020,000.00. Following the transaction, the director now owns 2,099,403 shares in the company, valued at $54,290,561.58. This trade represents a 76.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.20% of the company's stock.

Institutional Investors Weigh In On Magnolia Oil & Gas

A number of institutional investors have recently added to or reduced their stakes in MGY. Harbor Capital Advisors Inc. bought a new position in shares of Magnolia Oil & Gas during the 3rd quarter valued at about $25,000. First Horizon Advisors Inc. boosted its holdings 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 buying an additional 396 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in Magnolia Oil & Gas in the second quarter worth approximately $26,000. GAMMA Investing LLC increased its holdings in shares of Magnolia Oil & Gas by 184.4% in the second quarter. GAMMA Investing LLC now owns 1,607 shares of the company's stock valued at $41,000 after buying an additional 1,042 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in shares of Magnolia Oil & Gas by 61.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,850 shares of the company's stock valued at $72,000 after acquiring an additional 1,090 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corporation, an independent oil and natural gas company, engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. Its properties are located primarily in Karnes County and the Giddings area in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.