Magnolia Oil & Gas Co. (NYSE:MGY) Short Interest Down 15.4% in March

Magnolia Oil & Gas Co. (NYSE:MGY - Get Free Report) saw a large decline in short interest in March. As of March 31st, there was short interest totalling 27,070,000 shares, a decline of 15.4% from the March 15th total of 31,980,000 shares. Approximately 13.9% of the company's stock are sold short. Based on an average daily volume of 2,860,000 shares, the short-interest ratio is presently 9.5 days.

Magnolia Oil & Gas Price Performance

Shares of Magnolia Oil & Gas stock traded down $0.16 on Friday, hitting $21.21. 2,055,896 shares of the company traded hands, compared to its average volume of 2,799,353. The stock has a market capitalization of $4.12 billion, a P/E ratio of 10.99, a price-to-earnings-growth ratio of 3.01 and a beta of 1.57. The business has a 50-day simple moving average of $22.91 and a 200 day simple moving average of $24.57. Magnolia Oil & Gas has a 52 week low of $19.09 and a 52 week high of $29.02. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.42.

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

Magnolia Oil & Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.83%. This is a positive change from Magnolia Oil & Gas's previous quarterly dividend of $0.13. The ex-dividend date was Friday, February 14th. Magnolia Oil & Gas's dividend payout ratio (DPR) is presently 31.09%.

Analyst Ratings Changes

A number of analysts have commented on MGY shares. UBS Group started coverage on Magnolia Oil & Gas in a report on Tuesday. They issued a "buy" rating and a $26.00 target price for the company. Bank of America reaffirmed a "neutral" rating and set a $28.00 price target (down previously from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. JPMorgan Chase & Co. cut their target price on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. Citigroup cut their price objective on Magnolia Oil & Gas from $22.00 to $19.00 and set a "sell" rating for the company in a report on Tuesday, April 8th. Finally, Piper Sandler dropped their target price on Magnolia Oil & Gas from $26.00 to $25.00 and set a "neutral" rating on the stock in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $27.21.

Insider Buying and Selling

In other news, CEO Christopher G. Stavros bought 2,500 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were purchased at an average price of $22.05 per share, for a total transaction of $55,125.00. Following the completion of the purchase, the chief executive officer now owns 892,372 shares in the company, valued at approximately $19,676,802.60. This represents a 0.28 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Magnolia Oil & Gas

A number of institutional investors and hedge funds have recently modified their holdings of MGY. Vanguard Group Inc. lifted its position in Magnolia Oil & Gas by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 20,938,200 shares of the company's stock worth $489,535,000 after buying an additional 452,836 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Magnolia Oil & Gas by 24.6% in the 4th quarter. First Trust Advisors LP now owns 15,410,496 shares of the company's stock worth $360,297,000 after acquiring an additional 3,038,709 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Magnolia Oil & Gas by 11.7% in the 4th quarter. Janus Henderson Group PLC now owns 6,396,875 shares of the company's stock worth $149,559,000 after acquiring an additional 667,973 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Magnolia Oil & Gas by 0.5% during the 4th quarter. Wellington Management Group LLP now owns 5,020,646 shares of the company's stock worth $117,383,000 after purchasing an additional 26,943 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Magnolia Oil & Gas by 1.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,768,047 shares of the company's stock valued at $111,475,000 after purchasing an additional 86,166 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company's stock.

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.