Ltd. Enervest Sells 7,000,000 Shares of Magnolia Oil & Gas Co. (NYSE:MGY) Stock

Magnolia Oil & Gas Co. (NYSE:MGY) Director Ltd. Enervest sold 7,000,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $25.86, for a total transaction of $181,020,000.00. Following the transaction, the director now owns 2,099,403 shares in the company, valued at $54,290,561.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Magnolia Oil & Gas Stock Down 3.7 %

NYSE:MGY opened at $23.70 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.21. Magnolia Oil & Gas Co. has a twelve month low of $19.16 and a twelve month high of $27.63. The company has a market cap of $4.72 billion, a PE ratio of 11.79, a P/E/G ratio of 1.27 and a beta of 2.00. The company’s 50 day moving average is $24.99 and its two-hundred day moving average is $25.30.

Magnolia Oil & Gas (NYSE:MGY) last released its earnings results on Wednesday, July 31st. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.05. The firm had revenue of $336.73 million for the quarter, compared to the consensus estimate of $340.72 million. Magnolia Oil & Gas had a return on equity of 21.18% and a net margin of 29.44%. Analysts anticipate that Magnolia Oil & Gas Co. will post 2.04 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend was Friday, August 9th. Magnolia Oil & Gas’s payout ratio is 25.87%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Mizuho dropped their target price on Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Benchmark reiterated a “hold” rating on shares of Magnolia Oil & Gas in a research note on Thursday, July 18th. JPMorgan Chase & Co. decreased their price target on shares of Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Truist Financial lifted their price objective on shares of Magnolia Oil & Gas from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Bank of America increased their target price on shares of Magnolia Oil & Gas from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $28.00.

Institutional Investors Weigh In On Magnolia Oil & Gas

A number of large investors have recently bought and sold shares of the company. Sanctuary Advisors LLC acquired a new stake in Magnolia Oil & Gas during the 2nd quarter valued at approximately $428,000. Teachers Retirement System of The State of Kentucky lifted its position in Magnolia Oil & Gas by 92.6% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 121,882 shares of the company’s stock valued at $3,088,000 after purchasing an additional 58,585 shares during the period. Creative Planning boosted its holdings in Magnolia Oil & Gas by 21.3% in the second quarter. Creative Planning now owns 63,589 shares of the company’s stock valued at $1,611,000 after purchasing an additional 11,160 shares during the last quarter. Algert Global LLC acquired a new stake in Magnolia Oil & Gas during the 2nd quarter worth about $442,000. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Magnolia Oil & Gas by 0.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,647,897 shares of the company’s stock valued at $41,758,000 after buying an additional 11,877 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corporation, an independent oil and natural gas company, engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. Its properties are located primarily in Karnes County and the Giddings area in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.