Christopher G. Stavros Buys 2,500 Shares of Magnolia Oil & Gas Co. (NYSE:MGY) Stock

Magnolia Oil & Gas Co. (NYSE:MGY) CEO Christopher G. Stavros purchased 2,500 shares of Magnolia Oil & Gas stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average price of $22.05 per share, with a total value of $55,125.00. Following the transaction, the chief executive officer now owns 892,372 shares in the company, valued at approximately $19,676,802.60. The trade was a 0.28 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Magnolia Oil & Gas Price Performance

Shares of MGY opened at $22.17 on Wednesday. The firm has a market capitalization of $4.31 billion, a price-to-earnings ratio of 11.56, a price-to-earnings-growth ratio of 3.01 and a beta of 1.90. The stock’s fifty day moving average is $24.18 and its 200-day moving average is $25.16. Magnolia Oil & Gas Co. has a one year low of $21.63 and a one year high of $29.02. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.42.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. The business had revenue of $326.61 million for the quarter, compared to analyst estimates of $327.40 million. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. Equities analysts anticipate that Magnolia Oil & Gas Co. will post 2.1 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a $0.15 dividend. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, February 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.71%. Magnolia Oil & Gas’s dividend payout ratio is currently 31.09%.

Institutional Trading of Magnolia Oil & Gas

Institutional investors have recently made changes to their positions in the stock. First Trust Advisors LP increased its position in Magnolia Oil & Gas by 24.6% in the 4th quarter. First Trust Advisors LP now owns 15,410,496 shares of the company’s stock worth $360,297,000 after purchasing an additional 3,038,709 shares during the last quarter. Soros Fund Management LLC bought a new position in Magnolia Oil & Gas during the third quarter valued at approximately $18,120,000. Janus Henderson Group PLC lifted its stake in Magnolia Oil & Gas by 11.7% in the fourth quarter. Janus Henderson Group PLC now owns 6,396,875 shares of the company’s stock valued at $149,559,000 after acquiring an additional 667,973 shares during the last quarter. Barclays PLC raised its holdings in shares of Magnolia Oil & Gas by 62.5% during the 3rd quarter. Barclays PLC now owns 1,653,736 shares of the company’s stock valued at $40,383,000 after purchasing an additional 636,049 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Magnolia Oil & Gas in the fourth quarter worth $13,634,000. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Bank of America restated a “neutral” rating and set a $28.00 target price (down from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Mizuho upped their target price on Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. Truist Financial raised their price target on Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. The Goldman Sachs Group lowered Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and cut their price objective for the company from $27.00 to $26.00 in a research report on Friday, January 31st. Finally, Johnson Rice downgraded Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $27.58.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corp. engages in the acquisition, development, exploration, and production of oil and natural gas properties. It operates assets located in the Eagle Ford Shale and Austin Chalk formations in South Texas. The company was founded on February 14, 2017 and is headquartered in Houston, TX.