Magnolia Oil & Gas Corp (NYSE:MGY) Director Michael G. Macdougall sold 47,500 shares of Magnolia Oil & Gas stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $11.32, for a total value of $537,700.00. Following the completion of the sale, the director now directly owns 21,961 shares in the company, valued at $248,598.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
NYSE MGY traded up $0.33 during trading hours on Monday, hitting $11.19. 1,057,113 shares of the company were exchanged, compared to its average volume of 1,273,866. The stock has a 50-day moving average price of $10.89 and a 200 day moving average price of $10.94. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.14. Magnolia Oil & Gas Corp has a 52 week low of $9.27 and a 52 week high of $14.13. The stock has a market cap of $2.81 billion, a PE ratio of 22.63 and a beta of 1.28.
Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.04). Magnolia Oil & Gas had a return on equity of 2.81% and a net margin of 7.80%. The company had revenue of $244.80 million for the quarter, compared to the consensus estimate of $247.17 million. As a group, sell-side analysts anticipate that Magnolia Oil & Gas Corp will post 0.35 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Metropolitan Life Insurance Co NY bought a new stake in Magnolia Oil & Gas during the third quarter worth approximately $397,000. Millennium Management LLC increased its stake in Magnolia Oil & Gas by 425.0% during the third quarter. Millennium Management LLC now owns 815,910 shares of the company’s stock worth $9,056,000 after acquiring an additional 660,501 shares during the last quarter. Man Group plc increased its stake in Magnolia Oil & Gas by 20.8% during the third quarter. Man Group plc now owns 815,599 shares of the company’s stock worth $9,053,000 after acquiring an additional 140,415 shares during the last quarter. Wildcat Capital Management LLC bought a new stake in Magnolia Oil & Gas during the third quarter worth approximately $9,963,000. Finally, Barclays PLC increased its stake in Magnolia Oil & Gas by 60.5% during the third quarter. Barclays PLC now owns 141,444 shares of the company’s stock worth $1,570,000 after acquiring an additional 53,298 shares during the last quarter. 68.56% of the stock is currently owned by institutional investors.
MGY has been the topic of several research reports. R. F. Lafferty set a $20.00 target price on Magnolia Oil & Gas and gave the stock a “buy” rating in a report on Wednesday, August 7th. Barclays initiated coverage on Magnolia Oil & Gas in a report on Friday, August 30th. They issued an “overweight” rating and a $13.00 target price on the stock. Johnson Rice cut Magnolia Oil & Gas from a “buy” rating to an “accumulate” rating in a report on Tuesday, November 19th. Piper Jaffray Companies reduced their target price on Magnolia Oil & Gas from $14.00 to $13.00 and set an “overweight” rating on the stock in a report on Monday, September 30th. Finally, Citigroup lifted their target price on Magnolia Oil & Gas from $11.50 to $12.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $15.50.
About Magnolia Oil & Gas
Magnolia Oil & Gas Corporation engages in the business of acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. The company has oil and natural gas properties located primarily in Karnes County and the Giddings Field in South Texas primarily comprising the Eagle Ford Shale and the Austin Chalk formation.
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