Magnolia Oil & Gas (NYSE:MGY) CFO Sells $960,960.00 in Stock

Key Points

• CFO Brian Corales sold 33,000 shares on March 9 at an average price of $29.12 for proceeds of $960,960, trimming his stake by 15.19% to 184,178 shares.
• Magnolia raised its quarterly dividend to $0.165 (annualized $0.66), a yield of about 2.3%, up from $0.15 and with a dividend payout ratio of 38.37%.
• MGY shares are trading near their 52‑week high (~$29) with a market cap of $5.41B and a P/E of 16.88; analysts rate the stock an average "Hold" with a consensus target of $28.18.

Magnolia Oil & Gas Corp (NYSE:MGY - Get Free Report) CFO Brian Corales sold 33,000 shares of Magnolia Oil & Gas stock in a transaction on Monday, March 9th. The stock was sold at an average price of $29.12, for a total value of $960,960.00. Following the sale, the chief financial officer owned 184,178 shares in the company, valued at $5,363,263.36. The trade was a 15.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Magnolia Oil & Gas Stock Performance

Shares of NYSE:MGY traded up $0.28 during midday trading on Wednesday, reaching $29.03. The company had a trading volume of 4,097,754 shares, compared to its average volume of 3,160,696. The stock has a market cap of $5.41 billion, a P/E ratio of 16.88 and a beta of 0.89. The company's 50 day moving average price is $25.31 and its 200 day moving average price is $23.95. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas Corp has a 52-week low of $19.09 and a 52-week high of $29.74.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its quarterly earnings data on Thursday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.36 by $0.01. The business had revenue of $317.63 million during the quarter, compared to the consensus estimate of $322.18 million. Magnolia Oil & Gas had a net margin of 24.79% and a return on equity of 16.67%. The firm's quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.44 earnings per share. As a group, sell-side analysts anticipate that Magnolia Oil & Gas Corp will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Tuesday, February 10th were paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Tuesday, February 10th. This is an increase from Magnolia Oil & Gas's previous quarterly dividend of $0.15. Magnolia Oil & Gas's dividend payout ratio (DPR) is 38.37%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on MGY shares. Benchmark reissued a "hold" rating on shares of Magnolia Oil & Gas in a report on Wednesday, January 21st. Siebert Williams Shank downgraded Magnolia Oil & Gas from a "buy" rating to a "hold" rating in a research note on Friday, March 6th. Wells Fargo & Company set a $25.00 price objective on shares of Magnolia Oil & Gas in a report on Monday, February 16th. KeyCorp increased their target price on shares of Magnolia Oil & Gas from $29.00 to $30.00 and gave the stock an "overweight" rating in a research report on Monday, February 9th. Finally, Roth Mkm reiterated a "buy" rating on shares of Magnolia Oil & Gas in a research note on Tuesday, February 10th. Eight analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $28.18.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Lido Advisors LLC grew its holdings in Magnolia Oil & Gas by 2.4% during the 4th quarter. Lido Advisors LLC now owns 16,197 shares of the company's stock valued at $382,000 after buying an additional 387 shares in the last quarter. Oak Family Advisors LLC increased its position in shares of Magnolia Oil & Gas by 0.9% during the fourth quarter. Oak Family Advisors LLC now owns 47,620 shares of the company's stock valued at $1,042,000 after buying an additional 410 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of Magnolia Oil & Gas by 10.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,624 shares of the company's stock worth $102,000 after buying an additional 422 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Magnolia Oil & Gas by 8.0% in the fourth quarter. GAMMA Investing LLC now owns 6,130 shares of the company's stock valued at $134,000 after acquiring an additional 453 shares during the period. Finally, Coldstream Capital Management Inc. boosted its position in shares of Magnolia Oil & Gas by 3.1% in the third quarter. Coldstream Capital Management Inc. now owns 15,937 shares of the company's stock valued at $380,000 after acquiring an additional 482 shares during the period. Institutional investors own 94.73% of the company's stock.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corp NYSE: MGY is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties.

The company's core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.