Magnolia Oil & Gas Corp (NYSE:MGY) Director Sells $538,146.66 in Stock

Magnolia Oil & Gas Corp (NYSE:MGY) Director Michael G. Macdougall sold 49,326 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $10.91, for a total value of $538,146.66. Following the completion of the transaction, the director now directly owns 21,961 shares in the company, valued at approximately $239,594.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of MGY traded up $0.33 during mid-day trading on Monday, hitting $11.19. The stock had a trading volume of 1,057,113 shares, compared to its average volume of 1,273,866. The firm has a market cap of $2.81 billion, a P/E ratio of 22.63 and a beta of 1.28. The business has a fifty day moving average price of $10.89 and a 200-day moving average price of $10.94. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.54 and a quick ratio of 1.54. Magnolia Oil & Gas Corp has a 52 week low of $9.27 and a 52 week high of $14.13.

Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results on Monday, November 4th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.04). The firm had revenue of $244.80 million during the quarter, compared to the consensus estimate of $247.17 million. Magnolia Oil & Gas had a net margin of 7.80% and a return on equity of 2.81%. As a group, research analysts expect that Magnolia Oil & Gas Corp will post 0.35 earnings per share for the current fiscal year.

MGY has been the topic of several research analyst reports. Zacks Investment Research raised Magnolia Oil & Gas from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Barclays initiated coverage on Magnolia Oil & Gas in a research report on Friday, August 30th. They issued an “overweight” rating and a $13.00 price objective on the stock. Piper Jaffray Companies cut their price objective on Magnolia Oil & Gas from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Monday, September 30th. R. F. Lafferty set a $20.00 price objective on Magnolia Oil & Gas and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, KeyCorp initiated coverage on Magnolia Oil & Gas in a research report on Wednesday, November 27th. They issued an “overweight” rating and a $14.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $15.50.

Several institutional investors and hedge funds have recently modified their holdings of MGY. Aperio Group LLC bought a new stake in shares of Magnolia Oil & Gas in the second quarter valued at $25,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Magnolia Oil & Gas in the second quarter valued at $71,000. Bank of Montreal Can bought a new stake in shares of Magnolia Oil & Gas in the second quarter valued at $98,000. First Mercantile Trust Co. raised its stake in shares of Magnolia Oil & Gas by 28.2% in the third quarter. First Mercantile Trust Co. now owns 10,740 shares of the company’s stock valued at $119,000 after buying an additional 2,360 shares during the period. Finally, Bingham Osborn & Scarborough LLC bought a new stake in shares of Magnolia Oil & Gas in the third quarter valued at $126,000. Hedge funds and other institutional investors own 68.56% 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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