Magnolia Oil & Gas Co. (NYSE:MGY) Director Sells $181,020,000.00 in Stock

Magnolia Oil & Gas Co. (NYSE:MGY) Director Ltd. Enervest sold 7,000,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $25.86, for a total transaction of $181,020,000.00. Following the sale, the director now directly owns 2,099,403 shares in the company, valued at approximately $54,290,561.58. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Magnolia Oil & Gas Stock Performance

NYSE MGY opened at $23.70 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.28 and a quick ratio of 1.28. Magnolia Oil & Gas Co. has a 1-year low of $19.16 and a 1-year high of $27.63. The company has a market cap of $4.72 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 1.27 and a beta of 2.00. The stock’s 50 day simple moving average is $24.99 and its 200-day simple moving average is $25.30.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Wednesday, July 31st. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.05. The company had revenue of $336.73 million for the quarter, compared to analysts’ expectations of $340.72 million. Magnolia Oil & Gas had a net margin of 29.44% and a return on equity of 21.18%. As a group, equities research analysts anticipate that Magnolia Oil & Gas Co. will post 2.04 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a $0.13 dividend. The ex-dividend date was Friday, August 9th. This represents a $0.52 dividend on an annualized basis and a yield of 2.19%. Magnolia Oil & Gas’s payout ratio is 25.87%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Massmutual Trust Co. FSB ADV increased its holdings in shares of Magnolia Oil & Gas by 1,753.6% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,038 shares of the company’s stock valued at $26,000 after purchasing an additional 982 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of Magnolia Oil & Gas in the 2nd quarter worth $26,000. Mather Group LLC. purchased a new position in shares of Magnolia Oil & Gas during the 1st quarter worth $27,000. GAMMA Investing LLC raised its holdings in shares of Magnolia Oil & Gas by 184.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock worth $41,000 after acquiring an additional 1,042 shares during the period. Finally, Lindbrook Capital LLC boosted its position in shares of Magnolia Oil & Gas by 61.5% during the 1st quarter. Lindbrook Capital LLC now owns 1,647 shares of the company’s stock valued at $43,000 after acquiring an additional 627 shares during the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MGY has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price target on shares of Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Capital One Financial initiated coverage on shares of Magnolia Oil & Gas in a research report on Tuesday, June 11th. They issued an “overweight” rating and a $28.00 price objective for the company. Bank of America raised their target price on Magnolia Oil & Gas from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Susquehanna reduced their price target on Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Finally, Benchmark reissued a “hold” rating on shares of Magnolia Oil & Gas in a report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $28.00.

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.