Magnolia Oil & Gas (NYSE:MGY) Trading Down 7% – What’s Next?

Shares of Magnolia Oil & Gas Corp (NYSE:MGY) were down 7% during mid-day trading on Friday . The stock traded as low as $26.57 and last traded at $26.5350. Approximately 163,312 shares changed hands during trading, a decline of 95% from the average daily volume of 2,977,866 shares. The stock had previously closed at $28.54.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Siebert Williams Shank downgraded shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating in a report on Friday, March 6th. Zacks Research raised Magnolia Oil & Gas from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 26th. Bank of America raised shares of Magnolia Oil & Gas from a “neutral” rating to a “buy” rating and upped their price target for the company from $26.00 to $28.00 in a research report on Friday, January 16th. Truist Financial started coverage on shares of Magnolia Oil & Gas in a research report on Tuesday, March 24th. They issued a “hold” rating and a $33.00 price target on the stock. Finally, Citigroup cut their price target on Magnolia Oil & Gas from $35.00 to $32.00 and set a “neutral” rating for the company in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $31.00.

Magnolia Oil & Gas Price Performance

The company’s 50-day moving average is $29.04 and its 200-day moving average is $25.08. The firm has a market capitalization of $5.15 billion, a price-to-earnings ratio of 16.06, a PEG ratio of 1.78 and a beta of 0.83. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.54 and a quick ratio of 1.54.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings results on Thursday, February 5th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. The firm had revenue of $317.63 million during the quarter, compared to analysts’ expectations of $322.18 million. Magnolia Oil & Gas had a net margin of 24.79% and a return on equity of 16.67%. The firm’s revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.44 EPS. On average, research analysts expect that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Tuesday, February 10th were given a $0.165 dividend. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.15. The ex-dividend date was Tuesday, February 10th. This represents a $0.66 annualized dividend and a yield of 2.4%. Magnolia Oil & Gas’s payout ratio is currently 38.37%.

Insider Activity at Magnolia Oil & Gas

In related news, CEO Christopher G. Stavros sold 119,954 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $29.29, for a total value of $3,513,452.66. Following the completion of the transaction, the chief executive officer owned 883,592 shares in the company, valued at $25,880,409.68. This represents a 11.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Timothy D. Yang sold 150,000 shares of the company’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $29.29, for a total value of $4,393,500.00. Following the completion of the sale, the executive vice president owned 526,661 shares of the company’s stock, valued at approximately $15,425,900.69. This trade represents a 22.17% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 338,954 shares of company stock worth $9,911,733 in the last ninety days. 0.92% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Mather Group LLC. acquired a new position in shares of Magnolia Oil & Gas in the 3rd quarter valued at about $31,000. Salomon & Ludwin LLC increased its holdings in Magnolia Oil & Gas by 130.1% in the fourth quarter. Salomon & Ludwin LLC now owns 1,344 shares of the company’s stock worth $29,000 after buying an additional 760 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Magnolia Oil & Gas by 165.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock valued at $31,000 after purchasing an additional 864 shares in the last quarter. Torren Management LLC acquired a new stake in shares of Magnolia Oil & Gas in the fourth quarter worth about $38,000. Finally, Parallel Advisors LLC boosted its position in Magnolia Oil & Gas by 79.8% during the fourth quarter. Parallel Advisors LLC now owns 1,769 shares of the company’s stock worth $39,000 after purchasing an additional 785 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corp (NYSE: MGY) is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties.

The company’s core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs).