Insider Selling: Magnolia Oil & Gas (NYSE:MGY) CFO Sells $960,960.00 in Stock

Magnolia Oil & Gas Corp (NYSE:MGY) CFO Brian Corales sold 33,000 shares of the firm’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $29.12, for a total value of $960,960.00. Following the transaction, the chief financial officer directly owned 184,178 shares in the company, valued at $5,363,263.36. This trade represents a 15.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Magnolia Oil & Gas Price Performance

Shares of NYSE MGY opened at $29.48 on Friday. The stock has a market cap of $5.50 billion, a P/E ratio of 17.14 and a beta of 0.89. The firm’s 50-day simple moving average is $25.74 and its 200 day simple moving average is $24.06. Magnolia Oil & Gas Corp has a fifty-two week low of $19.09 and a fifty-two week high of $29.74. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Thursday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. The firm had revenue of $317.63 million during the quarter, compared to analyst estimates of $322.18 million. Magnolia Oil & Gas had a net margin of 24.79% and a return on equity of 16.67%. Magnolia Oil & Gas’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.44 EPS. Equities analysts expect that Magnolia Oil & Gas Corp will post 2.1 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Tuesday, February 10th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 2.2%. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.15. The ex-dividend date was Tuesday, February 10th. Magnolia Oil & Gas’s payout ratio is 38.37%.

Institutional Investors Weigh In On Magnolia Oil & Gas

A number of institutional investors have recently modified their holdings of MGY. AQR Capital Management LLC increased its stake in shares of Magnolia Oil & Gas by 77.7% in the first quarter. AQR Capital Management LLC now owns 56,346 shares of the company’s stock worth $1,423,000 after acquiring an additional 24,631 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Magnolia Oil & Gas by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 103,109 shares of the company’s stock valued at $2,605,000 after purchasing an additional 4,512 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Magnolia Oil & Gas by 8.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 242,880 shares of the company’s stock valued at $6,135,000 after purchasing an additional 18,447 shares in the last quarter. Intech Investment Management LLC grew its stake in Magnolia Oil & Gas by 11.3% in the first quarter. Intech Investment Management LLC now owns 68,814 shares of the company’s stock valued at $1,738,000 after purchasing an additional 7,008 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Magnolia Oil & Gas by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,737,475 shares of the company’s stock worth $39,058,000 after purchasing an additional 14,248 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Susquehanna lowered their price objective on shares of Magnolia Oil & Gas from $30.00 to $28.00 and set a “positive” rating on the stock in a research note on Monday, January 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Magnolia Oil & Gas in a research note on Thursday, January 22nd. The Goldman Sachs Group lifted their price target on Magnolia Oil & Gas from $23.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, February 11th. Siebert Williams Shank downgraded Magnolia Oil & Gas from a “buy” rating to a “hold” rating in a research note on Friday, March 6th. Finally, Bank of America upgraded Magnolia Oil & Gas from a “neutral” rating to a “buy” rating and upped their price objective for the company from $26.00 to $28.00 in a report on Friday, January 16th. Eight investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, Magnolia Oil & Gas currently has an average rating of “Moderate Buy” and a consensus target price of $28.90.

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).