Magnolia Oil & Gas (NYSE:MGY) Reaches New 52-Week Low - Should You Sell?

Magnolia Oil & Gas Co. (NYSE:MGY - Get Free Report) shares reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $19.09 and last traded at $22.23, with a volume of 4891384 shares trading hands. The stock had previously closed at $19.60.

Analyst Ratings Changes

Several research analysts recently commented on MGY shares. Williams Trading set a $29.00 target price on Magnolia Oil & Gas in a research report on Wednesday, March 5th. Truist Financial raised their price target on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Mizuho upped their price objective on Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a "neutral" rating in a research note on Monday, December 16th. The Goldman Sachs Group downgraded Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and cut their target price for the stock from $27.00 to $26.00 in a research report on Friday, January 31st. Finally, Bank of America reiterated a "neutral" rating and issued a $28.00 price target (down from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $27.54.

Magnolia Oil & Gas Price Performance

The company has a quick ratio of 1.47, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. The stock's 50-day moving average price is $23.31 and its 200-day moving average price is $24.83. The company has a market capitalization of $4.00 billion, a price-to-earnings ratio of 10.65, a price-to-earnings-growth ratio of 3.01 and a beta of 1.57.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last released its earnings results on Tuesday, February 18th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.46 by $0.03. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. The company had revenue of $326.61 million during the quarter, compared to analysts' expectations of $327.40 million. Equities research analysts anticipate that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change 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 related news, CEO Christopher G. Stavros purchased 2,500 shares of the stock in a transaction dated Monday, March 3rd. The stock was bought at an average cost of $22.05 per share, with a total value of $55,125.00. Following the purchase, the chief executive officer now directly owns 892,372 shares in the company, valued at $19,676,802.60. The trade was a 0.28 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.20% of the company's stock.

Institutional Investors Weigh In On Magnolia Oil & Gas

Several hedge funds have recently bought and sold shares of MGY. First Trust Advisors LP raised its stake in Magnolia Oil & Gas by 24.6% during the 4th quarter. First Trust Advisors LP now owns 15,410,496 shares of the company's stock worth $360,297,000 after buying an additional 3,038,709 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Magnolia Oil & Gas by 11.7% during the fourth quarter. Janus Henderson Group PLC now owns 6,396,875 shares of the company's stock worth $149,559,000 after buying an additional 667,973 shares in the last quarter. Barclays PLC grew its stake in shares of Magnolia Oil & Gas by 62.5% during the 3rd quarter. Barclays PLC now owns 1,653,736 shares of the company's stock worth $40,383,000 after acquiring an additional 636,049 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Magnolia Oil & Gas in the 4th quarter valued at $13,634,000. Finally, Renaissance Technologies LLC lifted its position in Magnolia Oil & Gas by 910.5% during the 4th quarter. Renaissance Technologies LLC now owns 541,400 shares of the company's stock worth $12,658,000 after buying an additional 487,820 shares in the last quarter. 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.