Magnolia Oil & Gas (NYSE:MGY) Hits New 1-Year High – Time to Buy?

Shares of Magnolia Oil & Gas Co. (NYSE:MGY) reached a new 52-week high on Thursday . The stock traded as high as $27.99 and last traded at $27.99, with a volume of 1015 shares traded. The stock had previously closed at $27.71.

Wall Street Analyst Weigh In

A number of brokerages have commented on MGY. Siebert Williams Shank cut shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price target on the stock. in a research report on Tuesday, October 15th. Mizuho reduced their price target on shares of Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Susquehanna dropped their price objective on Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Truist Financial increased their price objective on Magnolia Oil & Gas from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. dropped their price objective on Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Magnolia Oil & Gas presently has a consensus rating of “Hold” and a consensus target price of $27.67.

Magnolia Oil & Gas Trading Up 1.6 %

The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.47. The stock has a market capitalization of $5.53 billion, a PE ratio of 13.93, a PEG ratio of 1.39 and a beta of 1.99. The stock has a 50-day moving average price of $25.94 and a two-hundred day moving average price of $25.48.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. Magnolia Oil & Gas had a return on equity of 20.78% and a net margin of 28.88%. The company had revenue of $333.14 million for the quarter, compared to analysts’ expectations of $331.45 million. As a group, equities analysts forecast that Magnolia Oil & Gas Co. will post 1.99 earnings per share for the current year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be issued a $0.13 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.52 dividend on an annualized basis and a yield of 1.85%. Magnolia Oil & Gas’s dividend payout ratio is presently 25.74%.

Insiders Place Their Bets

In other news, Director Ltd. Enervest sold 7,000,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $25.86, for a total transaction of $181,020,000.00. Following the transaction, the director now owns 2,099,403 shares of the company’s stock, valued at approximately $54,290,561.58. The trade was a 76.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Magnolia Oil & Gas

Hedge funds have recently made changes to their positions in the company. Harbor Capital Advisors Inc. acquired a new position in Magnolia Oil & Gas during the 3rd quarter valued at about $25,000. First Horizon Advisors Inc. increased its position in Magnolia Oil & Gas by 64.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock valued at $25,000 after buying an additional 396 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its position in Magnolia Oil & Gas by 1,753.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,038 shares of the company’s stock valued at $26,000 after buying an additional 982 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in Magnolia Oil & Gas during the 2nd quarter valued at about $26,000. Finally, GAMMA Investing LLC increased its position in Magnolia Oil & Gas by 184.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock valued at $41,000 after buying an additional 1,042 shares in the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corporation, an independent oil and natural gas company, engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. Its properties are located primarily in Karnes County and the Giddings area in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.