Magnolia Oil & Gas (NYSE:MGY) Sees Strong Trading Volume - What's Next?

Key Points

• Magnolia Oil & Gas shares saw unusually heavy trading volume, with 5.37 million shares changing hands, about 75% above the prior session, and the stock finished up 2.5% at $25.745.
• Analyst sentiment remains mixed: recent rating changes included upgrades and cuts, but the overall consensus is still Hold with an average price target of $31.58.
• The company recently beat quarterly earnings estimates, posted revenue growth, and pays a 2.6% dividend yield, while institutional investors continue to hold a large majority of the shares.

Magnolia Oil & Gas Corp (NYSE:MGY - Get Free Report) saw unusually-high trading volume on Wednesday . 5,365,877 shares were traded during trading, an increase of 75% from the previous session's volume of 3,071,734 shares.The stock last traded at $25.7450 and had previously closed at $25.09.

Analyst Ratings Changes

Several research firms recently issued reports on MGY. Susquehanna boosted their price objective on Magnolia Oil & Gas from $35.00 to $36.00 and gave the company a "positive" rating in a report on Tuesday. Zacks Research cut Magnolia Oil & Gas from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 19th. UBS Group dropped their target price on Magnolia Oil & Gas from $38.00 to $34.00 and set a "buy" rating for the company in a research report on Friday, July 10th. Weiss Ratings lowered shares of Magnolia Oil & Gas from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, May 21st. Finally, Citigroup reduced their price target on shares of Magnolia Oil & Gas from $35.00 to $32.00 and set a "neutral" rating on the stock in a research report on Monday, April 13th. Eight research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $31.58.

Magnolia Oil & Gas Stock Up 2.5%

The firm has a market cap of $4.76 billion, a PE ratio of 14.96 and a beta of 0.70. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.19. The business has a 50-day moving average price of $27.23 and a two-hundred day moving average price of $27.39.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.03. The firm had revenue of $358.51 million during the quarter, compared to analyst estimates of $349.89 million. Magnolia Oil & Gas had a return on equity of 16.28% and a net margin of 24.40%.Magnolia Oil & Gas's revenue was up 2.3% compared to the same quarter last year. During the same period last year, the business posted $0.54 earnings per share. On average, equities research analysts expect that Magnolia Oil & Gas Corp will post 2.67 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 12th were paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Tuesday, May 12th. Magnolia Oil & Gas's dividend payout ratio is presently 38.37%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Fulton Bank N.A. increased its position in shares of Magnolia Oil & Gas by 25.7% in the 2nd quarter. Fulton Bank N.A. now owns 14,292 shares of the company's stock valued at $366,000 after purchasing an additional 2,923 shares during the last quarter. Revolve Wealth Partners LLC purchased a new stake in shares of Magnolia Oil & Gas during the 2nd quarter worth $210,000. GAMMA Investing LLC grew its stake in shares of Magnolia Oil & Gas by 10.1% during the second quarter. GAMMA Investing LLC now owns 7,572 shares of the company's stock worth $194,000 after purchasing an additional 697 shares in the last quarter. Harbor Investment Advisory LLC acquired a new position in shares of Magnolia Oil & Gas during the 2nd quarter worth about $39,000. Finally, Central Pacific Bank Trust Division acquired a new position in shares of Magnolia Oil & Gas during the 2nd quarter worth about $149,000. Hedge funds and other institutional investors own 94.73% of the company's stock.

Magnolia Oil & Gas Company Profile

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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