Magnolia Oil & Gas Corp (NYSE:MGY – Get Free Report) Director David Khani acquired 8,000 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was purchased at an average price of $25.00 per share, for a total transaction of $200,000.00. Following the acquisition, the director directly owned 30,622 shares in the company, valued at $765,550. This represents a 35.36% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.
Magnolia Oil & Gas Price Performance
Magnolia Oil & Gas stock opened at $26.07 on Wednesday. The company has a fifty day simple moving average of $26.12 and a 200-day simple moving average of $27.67. The firm has a market capitalization of $4.82 billion, a price-to-earnings ratio of 11.43 and a beta of 0.72. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.18. Magnolia Oil & Gas Corp has a 52-week low of $21.07 and a 52-week high of $32.76.
Magnolia Oil & Gas (NYSE:MGY – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.06. Magnolia Oil & Gas had a net margin of 28.77% and a return on equity of 21.04%. The firm had revenue of $478.81 million for the quarter, compared to the consensus estimate of $458.10 million. During the same period last year, the firm posted $0.41 earnings per share. The company’s revenue for the quarter was up 50.1% on a year-over-year basis. On average, equities analysts anticipate that Magnolia Oil & Gas Corp will post 2.8 EPS for the current fiscal year.
Magnolia Oil & Gas Increases Dividend
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on MGY shares. Mizuho upgraded Magnolia Oil & Gas to a “strong-buy” rating in a research report on Friday, July 31st. Weiss Ratings downgraded Magnolia Oil & Gas from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 21st. KeyCorp reissued an “overweight” rating on shares of Magnolia Oil & Gas in a research note on Monday, June 29th. Zacks Research lowered Magnolia Oil & Gas from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Finally, Roth Capital dropped their target price on Magnolia Oil & Gas from $30.00 to $29.00 and set a “buy” rating for the company in a report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $31.17.
Check Out Our Latest Stock Report on Magnolia Oil & Gas
Hedge Funds Weigh In On Magnolia Oil & Gas
Several institutional investors and hedge funds have recently bought and sold shares of MGY. Great Lakes Advisors LLC purchased a new stake in shares of Magnolia Oil & Gas in the 2nd quarter valued at approximately $4,676,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in shares of Magnolia Oil & Gas during the 2nd quarter valued at approximately $11,989,000. Fulton Bank N.A. lifted its holdings in Magnolia Oil & Gas by 25.7% in the second quarter. Fulton Bank N.A. now owns 14,292 shares of the company’s stock valued at $366,000 after acquiring an additional 2,923 shares during the last quarter. Revolve Wealth Partners LLC acquired a new position in Magnolia Oil & Gas in the second quarter valued at approximately $210,000. Finally, GAMMA Investing LLC lifted its holdings in Magnolia Oil & Gas by 10.1% in the second quarter. GAMMA Investing LLC now owns 7,572 shares of the company’s stock valued at $194,000 after acquiring an additional 697 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 Corp (NYSE: MGY) is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties.
The company’s core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs).
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