Magnolia Oil & Gas (NYSE:MGY) Director Edward Djerejian Sells 18,000 Shares

Key Points

• Director Edward Djerejian sold 18,000 shares on March 10 at an average price of $28.98 for $521,640, trimming his stake by 14.02% to 110,425 shares (SEC Form 4 filed).
• Dividend increased — Magnolia raised its quarterly payout to $0.165 (annualized $0.66) for a 2.3% yield and a payout ratio of 38.37%, paid March 2 with an ex-dividend date of February 10.
• Recent results and market view: MGY reported Q4 EPS of $0.37 (beats consensus) on slightly lower revenue, trades around $29.03 with a $5.41B market cap and 16.9x PE, and carries a consensus "Hold" rating with a $28.18 target.

Magnolia Oil & Gas Corp (NYSE:MGY - Get Free Report) Director Edward Djerejian sold 18,000 shares of the firm's stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $28.98, for a total value of $521,640.00. Following the sale, the director directly owned 110,425 shares in the company, valued at $3,200,116.50. The trade was a 14.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Magnolia Oil & Gas Trading Up 1.0%

MGY stock traded up $0.28 during midday trading on Wednesday, hitting $29.03. 4,097,754 shares of the company's stock were exchanged, compared to its average volume of 3,160,696. Magnolia Oil & Gas Corp has a one year low of $19.09 and a one year high of $29.74. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.54 and a current ratio of 1.54. The company has a market cap of $5.41 billion, a PE ratio of 16.88 and a beta of 0.89. The stock's fifty day moving average price is $25.31 and its 200-day moving average price is $23.95.

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

Magnolia Oil & Gas Increases Dividend

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MGY. Susquehanna reduced their price target on shares of Magnolia Oil & Gas from $30.00 to $28.00 and set a "positive" rating for the company in a report on Monday, January 26th. BMO Capital Markets initiated coverage on shares of Magnolia Oil & Gas in a research note on Friday, January 9th. They issued an "outperform" rating and a $27.00 target price for the company. Mizuho set a $30.00 target price on Magnolia Oil & Gas in a report on Friday, February 6th. Citigroup lifted their price target on Magnolia Oil & Gas from $25.00 to $29.00 and gave the company a "neutral" rating in a research note on Wednesday, February 18th. Finally, Zacks Research raised Magnolia Oil & Gas from a "strong sell" rating to a "hold" rating in a research report on Wednesday, February 11th. Eight equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $28.18.

Institutional Investors Weigh In On Magnolia Oil & Gas

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lido Advisors LLC boosted its stake in shares of Magnolia Oil & Gas by 2.4% during the 4th quarter. Lido Advisors LLC now owns 16,197 shares of the company's stock worth $382,000 after buying an additional 387 shares during the last quarter. Oak Family Advisors LLC boosted its position in 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 purchasing an additional 410 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in Magnolia Oil & Gas by 10.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,624 shares of the company's stock valued at $102,000 after purchasing an additional 422 shares in the last quarter. GAMMA Investing LLC grew its stake in 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 purchasing an additional 453 shares in the last quarter. Finally, Coldstream Capital Management Inc. increased its position in shares of Magnolia Oil & Gas by 3.1% during the 3rd quarter. Coldstream Capital Management Inc. now owns 15,937 shares of the company's stock worth $380,000 after purchasing an additional 482 shares during the last quarter. 94.73% of the stock is owned by institutional investors.

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).

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