Magnolia Oil & Gas (NYSE:MGY) Reaches New 1-Year Low – Here’s Why

Magnolia Oil & Gas Co. (NYSE:MGY)’s share price reached a new 52-week low on Thursday . The company traded as low as $19.09 and last traded at $22.23, with a volume of 4891384 shares changing hands. The stock had previously closed at $19.60.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MGY shares. Williams Trading set a $29.00 price objective on shares of Magnolia Oil & Gas in a research note on Wednesday, March 5th. Truist Financial lifted their price objective on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, January 13th. The Goldman Sachs Group lowered shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and reduced their price target for the company from $27.00 to $26.00 in a research report on Friday, January 31st. Bank of America restated a “neutral” rating and set a $28.00 price target (down from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Finally, Johnson Rice lowered shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $27.54.

Magnolia Oil & Gas Price Performance

The firm’s 50-day moving average is $23.53 and its 200-day moving average is $24.92. The company has a market capitalization of $4.32 billion, a PE ratio of 11.52, a price-to-earnings-growth ratio of 3.01 and a beta of 1.57. The company has a quick ratio of 1.47, a current ratio of 1.42 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Tuesday, February 18th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.03. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. The company had revenue of $326.61 million during the quarter, compared to analyst estimates of $327.40 million. Equities analysts predict that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a $0.15 dividend. The ex-dividend date of this dividend was Friday, February 14th. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 2.70%. Magnolia Oil & Gas’s payout ratio is currently 31.09%.

Insiders Place Their Bets

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros purchased 2,500 shares of the stock in a transaction on Monday, March 3rd. The stock was acquired at an average cost of $22.05 per share, with a total value of $55,125.00. Following the completion of the purchase, the chief executive officer now directly owns 892,372 shares of the company’s stock, valued at approximately $19,676,802.60. This trade represents a 0.28 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.20% of the stock is currently owned by insiders.

Institutional Trading of Magnolia Oil & Gas

Hedge funds have recently added to or reduced their stakes in the business. Mather Group LLC. raised its stake in shares of Magnolia Oil & Gas by 100.0% during the fourth quarter. Mather Group LLC. now owns 1,090 shares of the company’s stock valued at $25,000 after acquiring an additional 545 shares during the last quarter. Larson Financial Group LLC raised its stake in shares of Magnolia Oil & Gas by 112.3% during the fourth quarter. Larson Financial Group LLC now owns 1,072 shares of the company’s stock valued at $25,000 after acquiring an additional 567 shares during the last quarter. R Squared Ltd bought a new position in shares of Magnolia Oil & Gas during the fourth quarter valued at about $43,000. Quarry LP raised its stake in shares of Magnolia Oil & Gas by 1,047.8% during the fourth quarter. Quarry LP now owns 2,135 shares of the company’s stock valued at $50,000 after acquiring an additional 1,949 shares during the last quarter. Finally, Avior Wealth Management LLC raised its stake in shares of Magnolia Oil & Gas by 30.0% during the fourth quarter. Avior Wealth Management LLC now owns 2,194 shares of the company’s stock valued at $51,000 after acquiring an additional 506 shares during the last quarter. 94.73% of the stock is owned by institutional investors.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corp. engages in the acquisition, development, exploration, and production of oil and natural gas properties. It operates assets located in the Eagle Ford Shale and Austin Chalk formations in South Texas. The company was founded on February 14, 2017 and is headquartered in Houston, TX.