Magnolia Oil & Gas (NYSE:MGY) Hits New 1-Year High at $27.35

Shares of Magnolia Oil & Gas Co. (NYSE:MGY) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $27.35 and last traded at $27.22, with a volume of 1074864 shares. The stock had previously closed at $26.28.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on MGY shares. Susquehanna increased their price target on Magnolia Oil & Gas from $28.00 to $31.00 and gave the stock a “positive” rating in a research note on Monday, April 22nd. The Goldman Sachs Group increased their price target on Magnolia Oil & Gas from $24.50 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, March 26th. Citigroup increased their price target on Magnolia Oil & Gas from $18.00 to $22.00 and gave the stock a “sell” rating in a research note on Monday, April 15th. Benchmark reiterated a “hold” rating on shares of Magnolia Oil & Gas in a research note on Tuesday, April 23rd. Finally, Piper Sandler reiterated a “neutral” rating and issued a $29.00 price target on shares of Magnolia Oil & Gas in a research note on Friday, April 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $28.11.

Magnolia Oil & Gas Trading Up 0.4 %

The stock has a market cap of $5.50 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 1.52 and a beta of 2.02. The stock has a 50-day moving average price of $25.31 and a two-hundred day moving average price of $23.93. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.71 and a quick ratio of 1.71.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.05. Magnolia Oil & Gas had a net margin of 30.46% and a return on equity of 20.41%. The firm had revenue of $319.42 million during the quarter, compared to the consensus estimate of $308.21 million. Sell-side analysts forecast that Magnolia Oil & Gas Co. will post 2.24 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 13th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend was Friday, May 10th. Magnolia Oil & Gas’s payout ratio is 25.87%.

Insider Activity at Magnolia Oil & Gas

In related news, Director John B. Walker sold 12,000,000 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $25.58, for a total value of $306,960,000.00. Following the completion of the transaction, the director now owns 4,164,961 shares of the company’s stock, valued at approximately $106,539,702.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is owned by insiders.

Institutional Trading of Magnolia Oil & Gas

Several institutional investors have recently added to or reduced their stakes in MGY. Vanguard Group Inc. lifted its stake in Magnolia Oil & Gas by 16.6% in the first quarter. Vanguard Group Inc. now owns 20,757,369 shares of the company’s stock worth $538,654,000 after purchasing an additional 2,956,314 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Magnolia Oil & Gas by 2,799.2% in the first quarter. Principal Financial Group Inc. now owns 1,881,039 shares of the company’s stock worth $48,813,000 after purchasing an additional 1,816,158 shares during the last quarter. First Trust Advisors LP lifted its stake in Magnolia Oil & Gas by 20.2% in the fourth quarter. First Trust Advisors LP now owns 10,126,891 shares of the company’s stock worth $215,602,000 after purchasing an additional 1,704,982 shares during the last quarter. Ranger Investment Management L.P. bought a new stake in Magnolia Oil & Gas in the fourth quarter worth about $25,226,000. Finally, Jacobs Levy Equity Management Inc. bought a new stake in Magnolia Oil & Gas in the first quarter worth about $30,161,000. 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.