Short Interest in Magnolia Oil & Gas Corp (NYSE:MGY) Grows By 8.1%

Magnolia Oil & Gas Corp (NYSE:MGY) was the recipient of a significant growth in short interest in the month of July. As of July 31st, there was short interest totalling 18,711,200 shares, a growth of 8.1% from the June 30th total of 17,313,800 shares. Based on an average trading volume of 1,560,000 shares, the days-to-cover ratio is currently 12.0 days. Currently, 18.3% of the shares of the company are short sold.

In related news, Chairman Stephen I. Chazen purchased 25,000 shares of Magnolia Oil & Gas stock in a transaction dated Friday, August 9th. The stock was purchased at an average cost of $10.22 per share, for a total transaction of $255,500.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 7.90% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Versant Capital Management Inc bought a new position in shares of Magnolia Oil & Gas in the first quarter worth approximately $25,000. Aperio Group LLC bought a new position in shares of Magnolia Oil & Gas in the second quarter worth approximately $25,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Magnolia Oil & Gas in the second quarter worth approximately $71,000. Bank of Montreal Can bought a new position in shares of Magnolia Oil & Gas in the second quarter worth approximately $98,000. Finally, Starr International Co. Inc. bought a new position in shares of Magnolia Oil & Gas in the first quarter worth approximately $120,000. Institutional investors and hedge funds own 68.55% of the company’s stock.

A number of brokerages have recently commented on MGY. ValuEngine lowered shares of Magnolia Oil & Gas from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Piper Jaffray Companies began coverage on shares of Magnolia Oil & Gas in a research note on Monday, July 8th. They issued an “overweight” rating and a $14.00 price target for the company. Zacks Investment Research upgraded shares of Magnolia Oil & Gas from a “sell” rating to a “hold” rating in a research note on Wednesday. R. F. Lafferty set a $20.00 price target on shares of Magnolia Oil & Gas and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Finally, Wells Fargo & Co began coverage on shares of Magnolia Oil & Gas in a research note on Monday, May 20th. They issued an “outperform” rating and a $16.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $16.33.

NYSE MGY traded up $0.28 during trading hours on Friday, hitting $10.12. 1,352,315 shares of the company’s stock traded hands, compared to its average volume of 1,285,360. The business’s fifty day moving average price is $10.74 and its two-hundred day moving average price is $11.87. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.15 and a current ratio of 1.15. Magnolia Oil & Gas has a 52 week low of $9.27 and a 52 week high of $15.23.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Tuesday, August 6th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.02). The business had revenue of $242.96 million for the quarter, compared to the consensus estimate of $239.51 million. Magnolia Oil & Gas had a net margin of 12.13% and a return on equity of 5.12%. On average, research analysts anticipate that Magnolia Oil & Gas will post 0.52 earnings per share for the current year.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corporation engages in the business of acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. The company has oil and natural gas properties located primarily in Karnes County and the Giddings Field in South Texas primarily comprising the Eagle Ford Shale and the Austin Chalk formation.

Featured Story: Treasury Bonds

Receive News & Ratings for Magnolia Oil & Gas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Magnolia Oil & Gas and related companies with MarketBeat.com's FREE daily email newsletter.