Short Interest in Magnolia Oil & Gas Corp (NYSE:MGY) Expands By 8.1%

Magnolia Oil & Gas Corp (NYSE:MGY) saw a large increase in short interest during the month of July. As of July 31st, there was short interest totalling 18,711,200 shares, an increase of 8.1% from the June 30th total of 17,313,800 shares. Approximately 18.3% of the shares of the company are short sold. Based on an average daily volume of 1,560,000 shares, the short-interest ratio is presently 12.0 days.

NYSE MGY traded up $0.28 on Friday, hitting $10.12. 1,352,315 shares of the company’s stock traded hands, compared to its average volume of 1,285,360. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.15 and a current ratio of 1.15. Magnolia Oil & Gas has a 1-year low of $9.27 and a 1-year high of $15.23. The firm’s 50-day moving average price is $10.74 and its two-hundred day moving average price is $11.87.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.02). Magnolia Oil & Gas had a net margin of 12.13% and a return on equity of 5.12%. The business had revenue of $242.96 million for the quarter, compared to analyst estimates of $239.51 million. As a group, analysts predict that Magnolia Oil & Gas will post 0.52 earnings per share for the current year.



MGY has been the topic of several research analyst reports. TheStreet raised shares of Magnolia Oil & Gas from a “d” rating to a “c-” rating in a research report on Tuesday, August 6th. R. F. Lafferty set a $20.00 target price on shares of Magnolia Oil & Gas and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Wells Fargo & Co initiated coverage on shares of Magnolia Oil & Gas in a research report on Monday, May 20th. They set an “outperform” rating and a $16.00 target price on the stock. Piper Jaffray Companies initiated coverage on shares of Magnolia Oil & Gas in a research report on Monday, July 8th. They set an “overweight” rating and a $14.00 target price on the stock. Finally, Zacks Investment Research raised shares of Magnolia Oil & Gas from a “sell” rating to a “hold” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $16.33.

In related news, Chairman Stephen I. Chazen bought 25,000 shares of the company’s stock in a transaction on Friday, August 9th. The shares were bought at an average price of $10.22 per share, with a total value of $255,500.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 7.90% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in MGY. BlackRock Inc. lifted its stake in Magnolia Oil & Gas by 301.3% during the 2nd quarter. BlackRock Inc. now owns 6,880,797 shares of the company’s stock valued at $79,679,000 after acquiring an additional 5,166,376 shares during the period. Silvercrest Asset Management Group LLC lifted its stake in shares of Magnolia Oil & Gas by 27.5% in the 2nd quarter. Silvercrest Asset Management Group LLC now owns 4,851,525 shares of the company’s stock valued at $56,180,000 after purchasing an additional 1,045,414 shares during the period. Thompson Siegel & Walmsley LLC acquired a new position in shares of Magnolia Oil & Gas in the 1st quarter valued at $11,558,000. Columbia Pacific Advisors LLC lifted its stake in shares of Magnolia Oil & Gas by 11,248.8% in the 2nd quarter. Columbia Pacific Advisors LLC now owns 940,812 shares of the company’s stock valued at $1,783,000 after purchasing an additional 932,522 shares during the period. Finally, Rothschild & Co. Asset Management US Inc. acquired a new position in shares of Magnolia Oil & Gas in the 1st quarter valued at $9,356,000. Institutional investors and hedge funds own 68.55% of the company’s stock.

Magnolia Oil & Gas Company Profile

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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