John B. Walker sells 7,500,000 shares of Magnolia Oil & Gas Co. (NYSE: MGY)
Magnolia Oil & Gas Co. (NYSE: MGY) director John B. Walker sold 7,500,000 shares of Magnolia Oil & Gas in a transaction that took place on Tuesday, September 28. The shares were sold at an average price of $ 16.38, for a total transaction of $ 122,850,000.00. The transaction was disclosed in a file with the Securities & Exchange Commission, which is available on the SEC website.
NYSE: MGY traded up $ 0.26 on Thursday, reaching $ 17.79. 2,498,553 shares were traded, for an average volume of 1,990,066. The company has a leverage ratio of 0.46, a quick ratio of 1.86 and a current ratio of 1.86. The stock has a market cap of $ 4.20 billion, a price-to-earnings ratio of 16.70 and a beta of 2.62. The company’s 50-day mobile average price is $ 15.16, and its 200-day mobile average price is $ 13.75. Magnolia Oil & Gas Co. has a 52 week low of $ 4.09 and a 52 week high of $ 18.36.
Magnolia Oil & Gas (NYSE: MGY) last reported its quarterly results on Sunday, August 1. The company reported EPS of $ 0.56 for the quarter, beating analyst consensus estimates of $ 0.41 by $ 0.15. The company posted revenue of $ 250.73 million in the quarter, compared to analysts’ expectations of $ 229.42 million. Magnolia Oil & Gas recorded a return on equity of 23.92% and a net margin of 25.33%. As a group, equity research analysts predict that Magnolia Oil & Gas Co. will post earnings per share of 1.99 for the current year.
The company also recently announced a semi-annual dividend, which was paid on Wednesday, September 1. Investors of record on Thursday, August 12, received a dividend of $ 0.08 per share. The ex-dividend date was Wednesday August 11. This represents a return of 1.15%. The payout ratio of Magnolia Oil & Gas is -800.00%.
A number of hedge funds and other institutional investors have recently bought and sold shares of MGY. Harvest Fund Management Co. Ltd. purchased a new stake in Magnolia Oil & Gas during the 1st quarter valued at approximately $ 31,000. CM Bidwell & Associates Ltd. purchased a new stake in Magnolia Oil & Gas during the 1st quarter for a value of approximately $ 32,000. Acadian Asset Management LLC purchased a new stake in Magnolia Oil & Gas during the 1st quarter for a value of approximately $ 41,000. Rockefeller Capital Management LP increased its stake in Magnolia Oil & Gas by 108.5% during the 1st quarter. Rockefeller Capital Management LP now owns 4,611 shares of the company valued at $ 52,000 after purchasing an additional 2,399 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Magnolia Oil & Gas during the second quarter for a value of approximately $ 55,000. 76.56% of the shares are held by institutional investors and hedge funds.
MGY has been the subject of several recent analyst reports. Citigroup raised its target price on Magnolia Oil & Gas shares from $ 14.00 to $ 15.50 and gave the company a “neutral” rating in a research note on Thursday, July 22. Truist downgraded Magnolia Oil & Gas stock from a “hold” rating to a “buy” rating and raised its target price for the stock from $ 18.00 to $ 21.00 in a year. research report published on Monday, August 30. Wells Fargo & Company reduced its price target on Magnolia Oil & Gas shares from $ 17.00 to $ 16.00 and set a rating of “overweight” to the stock in a research report released on Monday 23 August. Truist Financial upgraded Magnolia Oil & Gas shares to a “buy” rating and set a price target of $ 21.00 on the share in a research report released on Monday, August 30. Finally, Evercore ISI launched coverage on Magnolia Oil & Gas shares in a research report on Monday, August 2. They set an “outperformance” rating and a price target of $ 18.00 for the stock. Four investment analysts rated the stock with a conservation rating and nine gave the company’s stock a buy rating. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $ 16.46.
About Magnolia Oil & Gas
Magnolia Oil & Gas Corp. carries out oil and gas exploration and production activities. It operates assets located in the Eagle Ford Shale and Austin Chalk formations in South Texas. The company was founded on July 31, 2018 and is headquartered in Houston, Texas.
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