Insider Selling: Magnolia Oil & Gas Corp (NYSE:MGY) Director Sells 50,000 Shares of Stock

Magnolia Oil & Gas Corp (NYSE:MGY) Director Michael G. Macdougall sold 50,000 shares of Magnolia Oil & Gas stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $11.64, for a total transaction of $582,000.00. Following the completion of the transaction, the director now owns 21,961 shares of the company’s stock, valued at approximately $255,626.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of NYSE:MGY opened at $11.80 on Wednesday. The company has a market capitalization of $2.98 billion, a PE ratio of 23.98 and a beta of 1.28. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.14. Magnolia Oil & Gas Corp has a twelve month low of $9.27 and a twelve month high of $14.13. The firm has a 50 day simple moving average of $11.12 and a 200-day simple moving average of $10.88.

Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results on Monday, November 4th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.04). Magnolia Oil & Gas had a net margin of 7.80% and a return on equity of 2.81%. The company had revenue of $244.80 million during the quarter, compared to analyst estimates of $247.17 million. As a group, equities research analysts predict that Magnolia Oil & Gas Corp will post 0.35 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Man Group plc grew its holdings in shares of Magnolia Oil & Gas by 92.5% during the second quarter. Man Group plc now owns 675,184 shares of the company’s stock worth $7,819,000 after purchasing an additional 324,501 shares during the last quarter. Rhumbline Advisers boosted its holdings in Magnolia Oil & Gas by 13.7% during the third quarter. Rhumbline Advisers now owns 155,185 shares of the company’s stock worth $1,723,000 after buying an additional 18,652 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Magnolia Oil & Gas by 23.7% during the third quarter. Envestnet Asset Management Inc. now owns 30,382 shares of the company’s stock worth $337,000 after buying an additional 5,828 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new position in Magnolia Oil & Gas during the third quarter worth about $2,349,000. Finally, Gilder Gagnon Howe & Co. LLC grew its position in Magnolia Oil & Gas by 29.2% during the third quarter. Gilder Gagnon Howe & Co. LLC now owns 808,879 shares of the company’s stock worth $8,979,000 after buying an additional 183,044 shares during the period. 68.63% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have commented on MGY. Barclays began coverage on shares of Magnolia Oil & Gas in a research report on Friday, August 30th. They issued an “overweight” rating and a $13.00 price objective on the stock. TheStreet raised shares of Magnolia Oil & Gas from a “d” rating to a “b-” rating in a research report on Wednesday, October 30th. Citigroup boosted their target price on shares of Magnolia Oil & Gas from $11.50 to $12.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. KeyCorp started coverage on Magnolia Oil & Gas in a report on Wednesday, November 27th. They issued an “overweight” rating and a $14.00 target price on the stock. Finally, Piper Jaffray Companies cut their price target on Magnolia Oil & Gas from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Monday, September 30th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $15.50.

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.

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