Insider Buying: Magnolia Oil & Gas Corp (NYSE:MGY) Chairman Acquires 25,000 Shares of Stock

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Magnolia Oil & Gas Corp (NYSE:MGY) Chairman Stephen I. Chazen bought 25,000 shares of the stock in a transaction on Friday, August 9th. The stock was purchased at an average price of $10.22 per share, with a total value of $255,500.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of NYSE MGY opened at $9.80 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.15 and a quick ratio of 1.15. Magnolia Oil & Gas Corp has a 1-year low of $9.27 and a 1-year high of $15.23. The stock’s fifty day moving average is $10.81.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). The company had revenue of $242.96 million for the quarter, compared to analysts’ expectations of $239.51 million. Magnolia Oil & Gas had a return on equity of 5.12% and a net margin of 12.13%. As a group, equities analysts forecast that Magnolia Oil & Gas Corp will post 0.52 EPS for the current fiscal year.

Several equities research analysts have weighed in on the company. Piper Jaffray Companies assumed coverage on Magnolia Oil & Gas in a report on Monday, July 8th. They issued an “overweight” rating and a $14.00 target price for the company. ValuEngine cut Magnolia Oil & Gas from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. TheStreet upgraded Magnolia Oil & Gas from a “d” rating to a “c-” rating in a report on Tuesday, August 6th. R. F. Lafferty set a $20.00 target price on Magnolia Oil & Gas and gave the stock a “buy” rating in a report on Wednesday, August 7th. Finally, Zacks Investment Research upgraded Magnolia Oil & Gas from a “sell” rating to a “hold” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $16.33.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Magnolia Oil & Gas by 5.1% during the 2nd quarter. Vanguard Group Inc. now owns 9,334,628 shares of the company’s stock worth $108,095,000 after purchasing an additional 450,085 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Magnolia Oil & Gas by 301.3% during the 2nd quarter. BlackRock Inc. now owns 6,880,797 shares of the company’s stock worth $79,679,000 after purchasing an additional 5,166,376 shares during the last quarter. Silvercrest Asset Management Group LLC lifted its stake in shares of Magnolia Oil & Gas by 27.5% during the 2nd quarter. Silvercrest Asset Management Group LLC now owns 4,851,525 shares of the company’s stock worth $56,180,000 after purchasing an additional 1,045,414 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Magnolia Oil & Gas by 16.3% during the 1st quarter. Victory Capital Management Inc. now owns 4,150,726 shares of the company’s stock worth $49,809,000 after purchasing an additional 580,268 shares during the last quarter. Finally, Cooperman Leon G lifted its stake in shares of Magnolia Oil & Gas by 9.6% during the 2nd quarter. Cooperman Leon G now owns 1,912,476 shares of the company’s stock worth $22,146,000 after purchasing an additional 167,047 shares during the last quarter. Hedge funds and other institutional investors own 68.55% 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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Insider Buying and Selling by Quarter for Magnolia Oil & Gas (NYSE:MGY)

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