Magnolia Oil & Gas Co. (NYSE:MGY) Short Interest Update

Magnolia Oil & Gas Co. (NYSE:MGY - Get Free Report) saw a large decrease in short interest in the month of March. As of March 31st, there was short interest totalling 27,070,000 shares, a decrease of 15.4% from the March 15th total of 31,980,000 shares. Currently, 13.9% of the company's shares are short sold. Based on an average trading volume of 2,860,000 shares, the days-to-cover ratio is presently 9.5 days.

Insider Activity at Magnolia Oil & Gas

In other news, CEO Christopher G. Stavros bought 2,500 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were purchased at an average price of $22.05 per share, for a total transaction of $55,125.00. Following the completion of the acquisition, the chief executive officer now owns 892,372 shares of the company's stock, valued at approximately $19,676,802.60. This trade represents a 0.28 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Magnolia Oil & Gas

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Magnolia Oil & Gas by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 20,938,200 shares of the company's stock worth $489,535,000 after purchasing an additional 452,836 shares in the last quarter. First Trust Advisors LP increased its stake in Magnolia Oil & Gas by 24.6% in 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 in the last quarter. Janus Henderson Group PLC increased its stake in Magnolia Oil & Gas by 11.7% in the 4th 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. Wellington Management Group LLP raised its holdings in Magnolia Oil & Gas by 0.5% during the fourth quarter. Wellington Management Group LLP now owns 5,020,646 shares of the company's stock valued at $117,383,000 after acquiring an additional 26,943 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Magnolia Oil & Gas by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,768,047 shares of the company's stock valued at $111,475,000 after acquiring an additional 86,166 shares in the last quarter. Institutional investors own 94.73% of the company's stock.

Magnolia Oil & Gas Stock Down 0.7 %

Shares of Magnolia Oil & Gas stock traded down $0.16 on Friday, reaching $21.21. The company's stock had a trading volume of 2,055,896 shares, compared to its average volume of 2,295,387. Magnolia Oil & Gas has a 52 week low of $19.09 and a 52 week high of $29.02. The firm's fifty day simple moving average is $22.85 and its two-hundred day simple moving average is $24.54. 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 company has a market capitalization of $4.12 billion, a price-to-earnings ratio of 10.99, a P/E/G ratio of 3.01 and a beta of 1.57.

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

Magnolia Oil & Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a dividend of $0.15 per share. The ex-dividend date was Friday, February 14th. This is an increase from Magnolia Oil & Gas's previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.83%. Magnolia Oil & Gas's payout ratio is 31.09%.

Analyst Upgrades and Downgrades

MGY has been the topic of a number of analyst reports. Piper Sandler decreased their price objective on shares of Magnolia Oil & Gas from $26.00 to $25.00 and set a "neutral" rating on the stock in a research report on Tuesday. UBS Group began coverage on Magnolia Oil & Gas in a report on Tuesday. They set a "buy" rating and a $26.00 price target on the stock. Truist Financial increased their price objective on Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a "buy" rating in a report on Monday, January 13th. JPMorgan Chase & Co. reduced their target price on Magnolia Oil & Gas from $28.00 to $24.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. Finally, Bank of America restated a "neutral" rating and set a $28.00 target price (down previously from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Magnolia Oil & Gas currently has an average rating of "Hold" and a consensus price target of $27.21.

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.