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

Magnolia Oil & Gas Co. (NYSE:MGY) reached a new 52-week low during trading on Friday . The company traded as low as $21.14 and last traded at $21.07, with a volume of 334393 shares traded. The stock had previously closed at $23.51.

Analysts Set New Price Targets

Several equities analysts have issued reports on MGY shares. Piper Sandler lifted their price objective on Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Johnson Rice cut Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a report on Tuesday, January 28th. Mizuho increased their price objective on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. JPMorgan Chase & Co. lowered their price objective on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. Finally, The Goldman Sachs Group lowered shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $27.00 to $26.00 in a research report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Magnolia Oil & Gas has an average rating of “Hold” and an average target price of $27.77.

Magnolia Oil & Gas Stock Performance

The company has a current ratio of 1.42, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. The company has a market cap of $4.09 billion, a price-to-earnings ratio of 10.90, a P/E/G ratio of 3.01 and a beta of 1.57. The stock has a 50 day moving average price of $23.90 and a two-hundred day moving average price of $25.09.

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

Magnolia Oil & Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.60 dividend on an annualized basis and a yield of 2.85%. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s payout ratio is currently 31.09%.

Insider Buying and Selling at Magnolia Oil & Gas

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 bought at an average cost of $22.05 per share, for a total transaction of $55,125.00. Following the completion of the acquisition, the chief executive officer now directly owns 892,372 shares of the company’s stock, valued at $19,676,802.60. The trade was a 0.28 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Magnolia Oil & Gas

Several institutional investors and hedge funds have recently modified their holdings of MGY. FMR LLC lifted its stake in Magnolia Oil & Gas by 174.9% in the third quarter. FMR LLC now owns 34,851 shares of the company’s stock valued at $851,000 after buying an additional 22,171 shares in the last quarter. HighTower Advisors LLC bought a new stake in Magnolia Oil & Gas in the 3rd quarter valued at $353,000. Charles Schwab Investment Management Inc. lifted its position in Magnolia Oil & Gas by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,076,541 shares of the company’s stock valued at $48,550,000 after acquiring an additional 85,524 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Magnolia Oil & Gas in the 4th quarter worth $590,000. Finally, Proficio Capital Partners LLC bought a new position in Magnolia Oil & Gas during the 4th quarter worth about $292,000. 94.73% of the stock is currently owned by institutional investors and hedge funds.

About Magnolia Oil & Gas

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.