Magnolia Oil & Gas Corp (NYSE:MGY) Director Michael G. Macdougall sold 49,326 shares of Magnolia Oil & Gas stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $10.91, for a total value of $538,146.66. Following the sale, the director now directly owns 21,961 shares in the company, valued at $239,594.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of MGY traded up $0.33 during mid-day trading on Monday, reaching $11.19. 1,057,113 shares of the company were exchanged, compared to its average volume of 1,273,866. Magnolia Oil & Gas Corp has a 52 week low of $9.27 and a 52 week high of $14.13. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.54 and a current ratio of 1.54. The stock has a market capitalization of $2.81 billion, a PE ratio of 22.63 and a beta of 1.28. The business has a 50 day simple moving average of $10.89 and a two-hundred day simple moving average of $10.94.
Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the Zacks’ 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. On average, analysts predict that Magnolia Oil & Gas Corp will post 0.35 EPS for the current year.
MGY has been the topic of a number of recent research reports. KeyCorp initiated coverage on Magnolia Oil & Gas in a research note on Wednesday, November 27th. They set an “overweight” rating and a $14.00 price target on the stock. Johnson Rice lowered Magnolia Oil & Gas from a “buy” rating to an “accumulate” rating in a research note on Tuesday, November 19th. Citigroup lifted their price target on Magnolia Oil & Gas from $11.50 to $12.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Piper Jaffray Companies lowered their price objective on Magnolia Oil & Gas from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Monday, September 30th. Finally, Zacks Investment Research upgraded Magnolia Oil & Gas from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $15.50.
Institutional investors and hedge funds have recently modified their holdings of the company. Aperio Group LLC bought a new position in shares of Magnolia Oil & Gas during the second quarter worth about $25,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Magnolia Oil & Gas in the second quarter worth approximately $71,000. Bank of Montreal Can bought a new stake in Magnolia Oil & Gas in the second quarter worth approximately $98,000. First Mercantile Trust Co. increased its holdings in Magnolia Oil & Gas by 28.2% in the third quarter. First Mercantile Trust Co. now owns 10,740 shares of the company’s stock worth $119,000 after purchasing an additional 2,360 shares in the last quarter. Finally, Bingham Osborn & Scarborough LLC bought a new stake in Magnolia Oil & Gas in the third quarter worth approximately $126,000. Institutional investors own 68.56% 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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