David Khani Buys 8,000 Shares of Magnolia Oil & Gas (NYSE:MGY) Stock

Magnolia Oil & Gas Corp (NYSE:MGY) Director David Khani purchased 8,000 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was bought at an average cost of $25.00 per share, for a total transaction of $200,000.00. Following the completion of the purchase, the director directly owned 30,622 shares in the company, valued at approximately $765,550. This trade represents a 35.36% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.

Magnolia Oil & Gas Stock Performance

Shares of NYSE:MGY opened at $26.34 on Thursday. The company has a market cap of $4.87 billion, a price-to-earnings ratio of 11.55 and a beta of 0.72. The company has a 50-day moving average price of $26.09 and a 200-day moving average price of $27.69. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.18. Magnolia Oil & Gas Corp has a 12 month low of $21.07 and a 12 month high of $32.76.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.06. The company had revenue of $478.81 million during the quarter, compared to analyst estimates of $458.10 million. Magnolia Oil & Gas had a return on equity of 21.04% and a net margin of 28.77%.The firm’s revenue was up 50.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.41 earnings per share. As a group, equities analysts anticipate that Magnolia Oil & Gas Corp will post 2.8 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 10th will be paid a dividend of $0.18 per share. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, August 10th. Magnolia Oil & Gas’s payout ratio is 31.58%.

Institutional Investors Weigh In On Magnolia Oil & Gas

A number of large investors have recently made changes to their positions in the company. Lido Advisors LLC lifted its position in shares of Magnolia Oil & Gas by 2.4% during the 4th quarter. Lido Advisors LLC now owns 16,197 shares of the company’s stock valued at $382,000 after buying an additional 387 shares in the last quarter. Oak Family Advisors LLC increased its holdings in Magnolia Oil & Gas by 0.9% in the 4th quarter. Oak Family Advisors LLC now owns 47,620 shares of the company’s stock worth $1,042,000 after acquiring an additional 410 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in Magnolia Oil & Gas by 10.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,624 shares of the company’s stock worth $102,000 after acquiring an additional 422 shares in the last quarter. Coldstream Capital Management Inc. raised its stake in Magnolia Oil & Gas by 3.1% during the 3rd quarter. Coldstream Capital Management Inc. now owns 15,937 shares of the company’s stock worth $380,000 after acquiring an additional 482 shares during the period. Finally, Stifel Financial Corp raised its stake in Magnolia Oil & Gas by 1.6% during the 4th quarter. Stifel Financial Corp now owns 36,980 shares of the company’s stock worth $809,000 after acquiring an additional 585 shares during the period. 94.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MGY has been the subject of several recent analyst reports. UBS Group lowered their price target on Magnolia Oil & Gas from $38.00 to $34.00 and set a “buy” rating for the company in a research report on Friday, July 10th. Roth Capital cut their price objective on shares of Magnolia Oil & Gas from $30.00 to $29.00 and set a “buy” rating on the stock in a research report on Thursday, July 23rd. Wells Fargo & Company restated a “positive” rating and set a $36.00 price objective on shares of Magnolia Oil & Gas in a research note on Thursday. Weiss Ratings raised shares of Magnolia Oil & Gas from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday. Finally, Citigroup dropped their target price on shares of Magnolia Oil & Gas from $29.00 to $27.00 and set a “neutral” rating on the stock in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $31.58.

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).