Brian Corales Sells 33,000 Shares of Magnolia Oil & Gas (NYSE:MGY) Stock

Magnolia Oil & Gas Corp (NYSE:MGY) CFO Brian Corales sold 33,000 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $29.12, for a total transaction of $960,960.00. Following the completion of the sale, the chief financial officer owned 184,178 shares in the company, valued at $5,363,263.36. This represents a 15.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Magnolia Oil & Gas Price Performance

Shares of MGY traded up $0.28 during mid-day trading on Wednesday, reaching $29.03. 4,097,754 shares of the stock traded hands, compared to its average volume of 3,160,696. The firm has a fifty day moving average price of $25.31 and a 200 day moving average price of $23.95. The company has a market cap of $5.41 billion, a price-to-earnings ratio of 16.88 and a beta of 0.89. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas Corp has a 1 year low of $19.09 and a 1 year high of $29.74.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings results on Thursday, February 5th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.01. The firm had revenue of $317.63 million for the quarter, compared to analysts’ expectations of $322.18 million. Magnolia Oil & Gas had a net margin of 24.79% and a return on equity of 16.67%. The business’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.44 earnings per share. As a group, equities research analysts predict that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Tuesday, February 10th were paid a $0.165 dividend. The ex-dividend date was Tuesday, February 10th. This represents a $0.66 dividend on an annualized basis and a yield of 2.3%. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.15. Magnolia Oil & Gas’s dividend payout ratio is currently 38.37%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Mizuho set a $30.00 price objective on Magnolia Oil & Gas in a report on Friday, February 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Magnolia Oil & Gas in a research note on Thursday, January 22nd. Susquehanna dropped their target price on shares of Magnolia Oil & Gas from $30.00 to $28.00 and set a “positive” rating for the company in a research report on Monday, January 26th. Citigroup boosted their price target on shares of Magnolia Oil & Gas from $25.00 to $29.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 18th. Finally, BMO Capital Markets began coverage on shares of Magnolia Oil & Gas in a report on Friday, January 9th. They issued an “outperform” rating and a $27.00 price target on the stock. Eight equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, Magnolia Oil & Gas presently has a consensus rating of “Hold” and an average target price of $28.18.

Hedge Funds Weigh In On Magnolia Oil & Gas

A number of hedge funds and other institutional investors have recently modified their holdings of the company. American Century Companies Inc. raised its holdings in shares of Magnolia Oil & Gas by 12.9% during the 2nd quarter. American Century Companies Inc. now owns 11,861,231 shares of the company’s stock valued at $266,641,000 after buying an additional 1,358,878 shares in the last quarter. TimesSquare Capital Management LLC boosted its stake in Magnolia Oil & Gas by 1.9% in the second quarter. TimesSquare Capital Management LLC now owns 691,959 shares of the company’s stock worth $15,555,000 after buying an additional 12,638 shares in the last quarter. Intech Investment Management LLC grew its position in Magnolia Oil & Gas by 16.3% during the second quarter. Intech Investment Management LLC now owns 80,021 shares of the company’s stock valued at $1,799,000 after acquiring an additional 11,207 shares during the last quarter. Bessemer Group Inc. grew its position in Magnolia Oil & Gas by 4.4% during the third quarter. Bessemer Group Inc. now owns 912,526 shares of the company’s stock valued at $21,781,000 after acquiring an additional 38,502 shares during the last quarter. Finally, Pacer Advisors Inc. raised its stake in shares of Magnolia Oil & Gas by 16,251.3% during the third quarter. Pacer Advisors Inc. now owns 626,745 shares of the company’s stock worth $14,960,000 after acquiring an additional 622,912 shares in the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

About Magnolia Oil & Gas

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).