Magnolia Oil & Gas (NYSE:MGY) Stock Price Down 4.6% – Time to Sell?

Shares of Magnolia Oil & Gas Co. (NYSE:MGY) were down 4.6% during trading on Tuesday . The company traded as low as $25.44 and last traded at $25.51. Approximately 160,053 shares changed hands during trading, a decline of 94% from the average daily volume of 2,594,693 shares. The stock had previously closed at $26.74.

Wall Street Analyst Weigh In

MGY has been the topic of several research analyst reports. Mizuho decreased their price target on shares of 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. Truist Financial lowered their price target on Magnolia Oil & Gas from $35.00 to $31.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Benchmark reiterated a “hold” rating on shares of Magnolia Oil & Gas in a research report on Tuesday. Bank of America boosted their price objective on Magnolia Oil & Gas from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, Susquehanna reduced their target price on Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Magnolia Oil & Gas has a consensus rating of “Hold” and a consensus price target of $27.50.

Magnolia Oil & Gas Stock Performance

The stock’s 50 day simple moving average is $25.01 and its two-hundred day simple moving average is $25.42. The company has a market capitalization of $5.24 billion, a P/E ratio of 12.78, a P/E/G ratio of 1.35 and a beta of 1.99. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.28 and a quick ratio of 1.28.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.56 earnings per share (EPS) for the quarter, topping 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%. As a group, research analysts expect that Magnolia Oil & Gas Co. will post 1.99 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The firm also recently announced 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 2.01%. The ex-dividend date of this dividend was Friday, August 9th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 25.87%.

Insider Buying and Selling

In other Magnolia Oil & Gas news, Director Ltd. Enervest sold 7,000,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $25.86, for a total value of $181,020,000.00. Following the transaction, the director now directly owns 2,099,403 shares of the company’s stock, valued at approximately $54,290,561.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Magnolia Oil & Gas

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Magnolia Oil & Gas by 16.6% during the 1st quarter. Vanguard Group Inc. now owns 20,757,369 shares of the company’s stock worth $538,654,000 after acquiring an additional 2,956,314 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Magnolia Oil & Gas by 2,799.2% in the 1st quarter. Principal Financial Group Inc. now owns 1,881,039 shares of the company’s stock valued at $48,813,000 after buying an additional 1,816,158 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in shares of Magnolia Oil & Gas in the 1st quarter valued at $30,161,000. American Century Companies Inc. increased its position in shares of Magnolia Oil & Gas by 9.9% in the 2nd quarter. American Century Companies Inc. now owns 9,389,368 shares of the company’s stock valued at $237,927,000 after buying an additional 847,542 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Magnolia Oil & Gas by 16.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,520,725 shares of the company’s stock worth $114,554,000 after buying an additional 627,933 shares during the period. 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.