Magnolia Oil & Gas (NYSE:MGY) Hits New 52-Week High – Still a Buy?

Magnolia Oil & Gas Corp (NYSE:MGY) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $31.47 and last traded at $31.4070, with a volume of 625 shares changing hands. The stock had previously closed at $30.92.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on MGY shares. The Goldman Sachs Group raised their price objective on shares of Magnolia Oil & Gas from $23.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 11th. Siebert Williams Shank lowered Magnolia Oil & Gas from a “buy” rating to a “hold” rating in a research note on Friday, March 6th. UBS Group raised their price target on Magnolia Oil & Gas from $29.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Benchmark reissued a “hold” rating on shares of Magnolia Oil & Gas in a report on Wednesday, January 21st. Finally, Truist Financial started coverage on Magnolia Oil & Gas in a research report on Tuesday. They issued a “hold” rating and a $33.00 price objective on the stock. Eight equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $29.27.

Magnolia Oil & Gas Stock Up 1.4%

The firm’s 50 day moving average is $26.75 and its 200-day moving average is $24.29. The firm has a market cap of $5.84 billion, a PE ratio of 18.21, a P/E/G ratio of 2.78 and a beta of 0.89. 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 released its earnings results on Thursday, February 5th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.36 by $0.01. The firm had revenue of $317.63 million during the quarter, compared to analysts’ expectations 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 for the quarter was down 2.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.44 EPS. As a group, equities research analysts expect that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Tuesday, February 10th were given a $0.165 dividend. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.15. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Tuesday, February 10th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 38.37%.

Insider Transactions at Magnolia Oil & Gas

In related news, Director Edward P. Djerejian sold 18,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $28.98, for a total transaction of $521,640.00. Following the completion of the transaction, the director owned 110,425 shares of the company’s stock, valued at approximately $3,200,116.50. This represents a 14.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Dan F. Smith sold 18,000 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $29.01, for a total transaction of $522,180.00. Following the transaction, the director directly owned 119,204 shares in the company, valued at approximately $3,458,108.04. This represents a 13.12% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 338,954 shares of company stock valued at $9,911,733. Corporate insiders own 0.93% of the company’s stock.

Institutional Trading of Magnolia Oil & Gas

Institutional investors have recently made changes to their positions in the stock. Lido Advisors LLC grew its position in Magnolia Oil & Gas by 2.4% during the fourth quarter. Lido Advisors LLC now owns 16,197 shares of the company’s stock valued at $382,000 after acquiring an additional 387 shares during the period. Oak Family Advisors LLC lifted its stake in shares of Magnolia Oil & Gas by 0.9% in the 4th quarter. Oak Family Advisors LLC now owns 47,620 shares of the company’s stock valued at $1,042,000 after purchasing an additional 410 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Magnolia Oil & Gas by 10.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,624 shares of the company’s stock worth $102,000 after purchasing an additional 422 shares during the period. GAMMA Investing LLC grew its holdings in shares of Magnolia Oil & Gas by 8.0% during the 4th quarter. GAMMA Investing LLC now owns 6,130 shares of the company’s stock worth $134,000 after purchasing an additional 453 shares during the period. Finally, Coldstream Capital Management Inc. increased its position 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 purchasing an additional 482 shares in the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

About Magnolia Oil & Gas

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).