Magnolia Oil & Gas (NYSE:MGY) Trading Down 3.8% – What’s Next?

Magnolia Oil & Gas Co. (NYSE:MGY) shares were down 3.8% during mid-day trading on Friday . The company traded as low as $25.59 and last traded at $25.63. Approximately 59,437 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 2,440,301 shares. The stock had previously closed at $26.65.

Analysts Set New Price Targets

MGY has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Benchmark reiterated a “hold” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, October 15th. Siebert Williams Shank lowered shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a research note on Tuesday, October 15th. Mizuho dropped their price target on Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Finally, Truist Financial increased their price target on Magnolia Oil & Gas from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Magnolia Oil & Gas presently has a consensus rating of “Hold” and an average target price of $27.67.

Magnolia Oil & Gas Price Performance

The company’s fifty day moving average is $26.55 and its two-hundred day moving average is $25.62. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.47. The firm has a market cap of $5.06 billion, a price-to-earnings ratio of 13.19, a price-to-earnings-growth ratio of 1.40 and a beta of 1.99.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Wednesday, October 30th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. Magnolia Oil & Gas had a return on equity of 20.78% and a net margin of 28.88%. The company had revenue of $333.14 million for the quarter, compared to analyst estimates of $331.45 million. Equities research analysts forecast that Magnolia Oil & Gas Co. will post 1.99 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date was Friday, November 8th. Magnolia Oil & Gas’s dividend payout ratio is presently 25.74%.

Insider Buying and Selling at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, Director Ltd. Enervest sold 7,000,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $25.86, for a total value of $181,020,000.00. Following the completion of the transaction, the director now owns 2,099,403 shares in the company, valued at approximately $54,290,561.58. This represents a 76.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Magnolia Oil & Gas

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. bought a new stake in shares of Magnolia Oil & Gas during the third quarter valued at about $25,000. First Horizon Advisors Inc. lifted its holdings in Magnolia Oil & Gas by 64.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock valued at $25,000 after acquiring an additional 396 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of Magnolia Oil & Gas in the 2nd quarter worth approximately $26,000. GAMMA Investing LLC boosted its holdings in Magnolia Oil & Gas by 184.4% during the second quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock worth $41,000 after buying an additional 1,042 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in shares of Magnolia Oil & Gas by 61.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,850 shares of the company’s stock valued at $72,000 after acquiring an additional 1,090 shares during the last quarter. 94.73% of the stock is owned by institutional investors.

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.