Magnolia Oil & Gas Co. (NYSE:MGY - Get Free Report) CEO Christopher G. Stavros bought 2,500 shares of the business's stock in a transaction on Monday, March 3rd. The shares were bought at an average cost of $22.05 per share, for a total transaction of $55,125.00. Following the completion of the acquisition, the chief executive officer now directly owns 892,372 shares in the company, valued at approximately $19,676,802.60. This trade represents a 0.28 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Magnolia Oil & Gas Price Performance
Shares of MGY opened at $22.58 on Thursday. The firm's 50 day moving average price is $24.16 and its 200 day moving average price is $25.15. Magnolia Oil & Gas Co. has a fifty-two week low of $21.63 and a fifty-two week high of $29.02. The company has a quick ratio of 1.47, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. The company has a market cap of $4.38 billion, a P/E ratio of 11.70, a PEG ratio of 3.01 and a beta of 1.90.
Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.49 EPS for the quarter, topping analysts' consensus estimates of $0.46 by $0.03. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. The company had revenue of $326.61 million during the quarter, compared to the consensus estimate of $327.40 million. On average, research analysts forecast that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current fiscal year.
Magnolia Oil & Gas Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a dividend of $0.15 per share. This is a boost from Magnolia Oil & Gas's previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a dividend yield of 2.66%. The ex-dividend date was Friday, February 14th. Magnolia Oil & Gas's dividend payout ratio (DPR) is currently 31.09%.
Analyst Ratings Changes
A number of brokerages have commented on MGY. The Goldman Sachs Group lowered Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $27.00 to $26.00 in a report on Friday, January 31st. Johnson Rice downgraded Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, January 28th. Mizuho upped their price target on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a "neutral" rating in a report on Monday, December 16th. Piper Sandler increased their target price on Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a "neutral" rating in a research note on Wednesday, January 29th. Finally, Bank of America reaffirmed a "neutral" rating and set a $28.00 price objective (down from $29.00) on shares of Magnolia Oil & Gas in a research note on Monday, January 13th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $27.58.
View Our Latest Analysis on Magnolia Oil & Gas
Institutional Investors Weigh In On Magnolia Oil & Gas
Several hedge funds have recently modified their holdings of MGY. Harbor Capital Advisors Inc. acquired a new stake in shares of Magnolia Oil & Gas in the third quarter worth approximately $25,000. First Horizon Advisors Inc. boosted its position in shares of Magnolia Oil & Gas by 64.7% in the third quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company's stock worth $25,000 after acquiring an additional 396 shares during the last quarter. Mather Group LLC. lifted its position in Magnolia Oil & Gas by 100.0% during the fourth quarter. Mather Group LLC. now owns 1,090 shares of the company's stock valued at $25,000 after buying an additional 545 shares in the last quarter. Larson Financial Group LLC lifted its position in Magnolia Oil & Gas by 112.3% during the fourth quarter. Larson Financial Group LLC now owns 1,072 shares of the company's stock valued at $25,000 after buying an additional 567 shares in the last quarter. Finally, R Squared Ltd acquired a new position in Magnolia Oil & Gas during the fourth quarter valued at approximately $43,000. 94.73% of the stock is owned by institutional investors and hedge funds.
About Magnolia Oil & Gas
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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.
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