Short Interest in Magnolia Oil & Gas Corp (NYSE:MGY) Decreases By 6.8%
Magnolia Oil & Gas Corp (NYSE:MGY) was the target of a large decline in short interest in December. As of December 31st, there was short interest totalling 17,650,000 shares, a decline of 6.8% from the December 15th total of 18,930,000 shares. Based on an average daily volume of 1,120,000 shares, the days-to-cover ratio is presently 15.8 days. Approximately 14.5% of the shares of the stock are sold short.
In other Magnolia Oil & Gas news, Director Michael G. Macdougall sold 50,000 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $11.42, for a total value of $571,000.00. Following the sale, the director now owns 21,961 shares in the company, valued at approximately $250,794.62. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael G. Macdougall sold 49,326 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $10.91, for a total transaction of $538,146.66. Following the completion of the sale, the director now owns 21,961 shares in the company, valued at $239,594.51. The disclosure for this sale can be found here. In the last quarter, insiders sold 650,000 shares of company stock worth $7,512,199. Corporate insiders own 7.90% of the company’s stock.
A number of large investors have recently modified their holdings of MGY. BlackRock Inc. grew its holdings in Magnolia Oil & Gas by 301.3% during the 2nd quarter. BlackRock Inc. now owns 6,880,797 shares of the company’s stock valued at $79,679,000 after purchasing an additional 5,166,376 shares during the last quarter. Russell Investments Group Ltd. bought a new position in Magnolia Oil & Gas during the 3rd quarter valued at about $20,537,000. Silvercrest Asset Management Group LLC grew its holdings in Magnolia Oil & Gas by 27.5% during the 2nd quarter. Silvercrest Asset Management Group LLC now owns 4,851,525 shares of the company’s stock valued at $56,180,000 after purchasing an additional 1,045,414 shares during the last quarter. Wildcat Capital Management LLC bought a new position in Magnolia Oil & Gas during the 3rd quarter valued at about $9,963,000. Finally, Millennium Management LLC grew its holdings in Magnolia Oil & Gas by 425.0% during the 3rd quarter. Millennium Management LLC now owns 815,910 shares of the company’s stock valued at $9,056,000 after purchasing an additional 660,501 shares during the last quarter. Institutional investors own 68.63% of the company’s stock.
NYSE:MGY traded up $0.05 during mid-day trading on Thursday, hitting $12.46. 489,000 shares of the stock traded hands, compared to its average volume of 957,645. The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of 25.85 and a beta of 1.34. Magnolia Oil & Gas has a 52 week low of $9.27 and a 52 week high of $14.13. The firm’s 50 day moving average is $12.14 and its two-hundred day moving average is $11.10. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.14.
Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.04). The firm had revenue of $244.80 million for the quarter, compared to the consensus estimate of $247.17 million. Magnolia Oil & Gas had a net margin of 7.80% and a return on equity of 2.81%. As a group, research analysts predict that Magnolia Oil & Gas will post 0.35 EPS for the current year.
About Magnolia Oil & Gas
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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