Insider Selling: Magnolia Oil & Gas Co. (NYSE:MGY) Director Sells 7,000,000 Shares of Stock

Magnolia Oil & Gas Co. (NYSE:MGY) Director Ltd. Enervest sold 7,000,000 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $25.86, for a total transaction of $181,020,000.00. Following the sale, the director now directly owns 2,099,403 shares of the company’s stock, valued at $54,290,561.58. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Magnolia Oil & Gas Price Performance

Magnolia Oil & Gas stock opened at $24.27 on Friday. The business has a 50 day simple moving average of $24.94 and a 200 day simple moving average of $25.30. Magnolia Oil & Gas Co. has a one year low of $19.16 and a one year high of $27.63. The company has a market capitalization of $4.83 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 1.27 and a beta of 2.00. 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 issued its earnings results on Wednesday, July 31st. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.51 by $0.05. The company had revenue of $336.73 million for the quarter, compared to the consensus estimate of $340.72 million. Magnolia Oil & Gas had a net margin of 29.44% and a return on equity of 21.18%. On average, sell-side analysts forecast that Magnolia Oil & Gas Co. will post 2.04 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend was Friday, August 9th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 25.87%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MGY shares. Mizuho decreased their price target on shares of Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Wells Fargo & Company lowered their target price on Magnolia Oil & Gas from $27.00 to $26.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th. Truist Financial raised their price objective on shares of Magnolia Oil & Gas from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Piper Sandler cut their target price on shares of Magnolia Oil & Gas from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. Finally, Bank of America raised their price target on shares of Magnolia Oil & Gas from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $28.00.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MGY. Massmutual Trust Co. FSB ADV lifted its stake in shares of Magnolia Oil & Gas by 1,753.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,038 shares of the company’s stock valued at $26,000 after acquiring an additional 982 shares during the period. Opal Wealth Advisors LLC bought a new position in Magnolia Oil & Gas in the second quarter valued at approximately $26,000. Mather Group LLC. acquired a new position in Magnolia Oil & Gas in the 1st quarter worth $27,000. GAMMA Investing LLC boosted its position in shares of Magnolia Oil & Gas by 184.4% during the second quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock worth $41,000 after buying an additional 1,042 shares during the period. Finally, Lindbrook Capital LLC raised its position in Magnolia Oil & Gas by 61.5% in the 1st quarter. Lindbrook Capital LLC now owns 1,647 shares of the company’s stock valued at $43,000 after buying an additional 627 shares during the last quarter. 94.73% of the stock is owned by institutional investors.

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.