Magnolia Oil & Gas Co. (NYSE:MGY) CEO Christopher G. Stavros Purchases 2,500 Shares

Magnolia Oil & Gas Co. (NYSE:MGY) CEO Christopher G. Stavros acquired 2,500 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were acquired at an average price of $22.05 per share, with a total value of $55,125.00. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Magnolia Oil & Gas Stock Performance

MGY opened at $22.58 on Thursday. Magnolia Oil & Gas Co. has a 12-month low of $21.63 and a 12-month high of $29.02. The stock has a market cap of $4.38 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 3.01 and a beta of 1.90. The business has a 50 day moving average of $24.16 and a 200-day moving average of $25.15. The company has a quick ratio of 1.47, a current ratio of 1.42 and a debt-to-equity ratio of 0.20.

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

Magnolia Oil & Gas Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued 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 yield of 2.66%. The ex-dividend date was Friday, February 14th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 31.09%.

Institutional Trading of Magnolia Oil & Gas

Several hedge funds have recently added to or reduced their stakes in MGY. Wealth Enhancement Advisory Services LLC increased its stake in Magnolia Oil & Gas by 6.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 14,364 shares of the company’s stock worth $351,000 after acquiring an additional 889 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of Magnolia Oil & Gas by 43.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 4,094 shares of the company’s stock valued at $100,000 after acquiring an additional 1,244 shares in the last quarter. New York State Teachers Retirement System boosted its holdings in shares of Magnolia Oil & Gas by 41.5% during the 3rd quarter. New York State Teachers Retirement System now owns 64,537 shares of the company’s stock valued at $1,576,000 after acquiring an additional 18,937 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of Magnolia Oil & Gas during the 3rd quarter valued at $25,000. Finally, Principal Financial Group Inc. boosted its holdings in shares of Magnolia Oil & Gas by 10.1% during the 3rd quarter. Principal Financial Group Inc. now owns 2,015,960 shares of the company’s stock valued at $49,238,000 after acquiring an additional 184,793 shares in the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MGY. Truist Financial boosted their target price on Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Piper Sandler boosted their price objective on Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. The Goldman Sachs Group cut Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $27.00 to $26.00 in a research report on Friday, January 31st. Bank of America reiterated a “neutral” rating and issued a $28.00 price target (down from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Finally, Johnson Rice lowered Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Magnolia Oil & Gas currently has a consensus rating of “Hold” and an average price target 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.