Christopher G. Stavros Purchases 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 the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average price 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 of the company’s stock, valued at $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 Stock Up 0.2 %

Shares of Magnolia Oil & Gas stock opened at $22.63 on Friday. The stock has a market capitalization of $4.39 billion, a PE ratio of 11.72, a price-to-earnings-growth ratio of 3.01 and a beta of 1.90. Magnolia Oil & Gas Co. has a 52-week low of $21.63 and a 52-week 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. The company has a 50-day simple moving average of $24.15 and a two-hundred day simple moving average of $25.13.

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

Magnolia Oil & Gas Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a $0.15 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.60 annualized dividend and a yield of 2.65%. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s dividend payout ratio is currently 31.09%.

Hedge Funds Weigh In On Magnolia Oil & Gas

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Magnolia Oil & Gas by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 20,938,200 shares of the company’s stock worth $489,535,000 after acquiring an additional 452,836 shares during the last quarter. First Trust Advisors LP increased its position in Magnolia Oil & Gas by 24.6% during the 4th quarter. First Trust Advisors LP now owns 15,410,496 shares of the company’s stock valued at $360,297,000 after purchasing an additional 3,038,709 shares during the period. State Street Corp lifted its stake in shares of Magnolia Oil & Gas by 4.2% during the 3rd quarter. State Street Corp now owns 10,700,257 shares of the company’s stock worth $261,300,000 after purchasing an additional 435,326 shares during the last quarter. Janus Henderson Group PLC boosted 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 in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Magnolia Oil & Gas by 0.5% in the 4th quarter. Wellington Management Group LLP now owns 5,020,646 shares of the company’s stock worth $117,383,000 after purchasing an additional 26,943 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on MGY shares. Mizuho raised their price objective 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 shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Bank of America reissued a “neutral” rating and issued a $28.00 price target (down from $29.00) on shares of Magnolia Oil & Gas in a research note on Monday, January 13th. Johnson Rice cut Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Finally, The Goldman Sachs Group cut Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and dropped their target price for the company from $27.00 to $26.00 in a report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $27.58.

About Magnolia Oil & Gas

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.