Magnolia Oil & Gas (NYSE:MGY) Shares Down 4.5% - Time to Sell?

Key Points

• Magnolia Oil & Gas shares fell by 4.5%, closing at $24.13, amid significantly reduced trading volume of 207,209 shares, down 92% from the average.
• Analysts have varied opinions on the stock, with four rating it a Buy, eight a Hold, and two a Sell, while the average target price is set at $26.42.
• The company reported a quarterly EPS of $0.43, exceeding estimates, but revenue decreased 5.3% year-over-year, highlighting mixed performance.

Magnolia Oil & Gas Corp (NYSE:MGY - Get Free Report) shares fell 4.5% during mid-day trading on Monday . The stock traded as low as $24.29 and last traded at $24.13. 207,209 shares traded hands during trading, a decline of 92% from the average session volume of 2,599,387 shares. The stock had previously closed at $25.26.

Analyst Ratings Changes

Several research firms recently issued reports on MGY. Mizuho dropped their target price on Magnolia Oil & Gas from $26.00 to $25.00 and set a "neutral" rating on the stock in a report on Monday, September 15th. William Blair assumed coverage on Magnolia Oil & Gas in a research note on Monday, August 25th. They issued an "outperform" rating on the stock. Piper Sandler upped their price objective on Magnolia Oil & Gas from $24.00 to $25.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. UBS Group reaffirmed a "buy" rating and issued a $29.00 target price (up previously from $26.00) on shares of Magnolia Oil & Gas in a research report on Friday, June 13th. Finally, Wells Fargo & Company decreased their target price on Magnolia Oil & Gas from $22.00 to $21.00 and set an "underweight" rating on the stock in a research report on Monday, June 16th. Four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $26.42.

Magnolia Oil & Gas Stock Down 4.6%

The firm has a 50 day simple moving average of $24.02 and a two-hundred day simple moving average of $23.13. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $4.60 billion, a P/E ratio of 12.62, a PEG ratio of 3.31 and a beta of 1.33.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.43 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.03. Magnolia Oil & Gas had a return on equity of 19.34% and a net margin of 27.57%.The company had revenue of $318.98 million during the quarter, compared to analysts' expectations of $311.58 million. During the same period in the prior year, the company earned $0.51 EPS. Magnolia Oil & Gas's revenue was down 5.3% compared to the same quarter last year. On average, equities research analysts expect that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 11th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Monday, August 11th. Magnolia Oil & Gas's dividend payout ratio (DPR) is currently 31.41%.

Institutional Trading of Magnolia Oil & Gas

Large investors have recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Magnolia Oil & Gas by 236.2% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,190 shares of the company's stock worth $27,000 after acquiring an additional 836 shares during the period. Opal Wealth Advisors LLC acquired a new stake in Magnolia Oil & Gas during the 1st quarter worth about $30,000. Caitong International Asset Management Co. Ltd acquired a new stake in Magnolia Oil & Gas during the 2nd quarter worth about $30,000. EverSource Wealth Advisors LLC grew its holdings in Magnolia Oil & Gas by 165.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company's stock worth $31,000 after acquiring an additional 864 shares during the period. Finally, Geneos Wealth Management Inc. grew its stake in shares of Magnolia Oil & Gas by 90.5% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,212 shares of the company's stock valued at $50,000 after buying an additional 1,051 shares during the period. 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.

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