Magnolia Oil & Gas (NYSE:MGY) EVP Timothy Yang Sells 150,000 Shares of Stock

Magnolia Oil & Gas Corp (NYSE:MGY) EVP Timothy Yang sold 150,000 shares of the company’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $29.29, for a total value of $4,393,500.00. Following the transaction, the executive vice president directly owned 526,661 shares in the company, valued at approximately $15,425,900.69. This represents a 22.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Magnolia Oil & Gas Stock Performance

Shares of Magnolia Oil & Gas stock opened at $29.03 on Thursday. Magnolia Oil & Gas Corp has a 52 week low of $19.09 and a 52 week high of $29.74. The firm has a fifty day moving average of $25.45 and a two-hundred day moving average of $23.99. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.54 and a current ratio of 1.54. The stock has a market capitalization of $5.41 billion, a price-to-earnings ratio of 16.88 and a beta of 0.89.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings data on Thursday, February 5th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.36 by $0.01. Magnolia Oil & Gas had a return on equity of 16.67% and a net margin of 24.79%.The business had revenue of $317.63 million for the quarter, compared to the consensus estimate of $322.18 million. During the same quarter last year, the business posted $0.44 EPS. The firm’s revenue was down 2.8% compared to the same quarter last year. As a group, equities research analysts predict that Magnolia Oil & Gas Corp will post 2.1 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Tuesday, February 10th were given a $0.165 dividend. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Tuesday, February 10th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.3%. Magnolia Oil & Gas’s payout ratio is 38.37%.

Institutional Trading of Magnolia Oil & Gas

A number of institutional investors and hedge funds have recently modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Magnolia Oil & Gas by 236.2% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,190 shares of the company’s stock valued at $27,000 after buying an additional 836 shares during the period. Salomon & Ludwin LLC increased its position in shares of Magnolia Oil & Gas by 130.1% during the fourth quarter. Salomon & Ludwin LLC now owns 1,344 shares of the company’s stock valued at $29,000 after buying an additional 760 shares during the period. Mather Group LLC. bought a new position in shares of Magnolia Oil & Gas in the third quarter valued at approximately $31,000. EverSource Wealth Advisors LLC grew its stake in Magnolia Oil & Gas by 165.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock valued at $31,000 after acquiring an additional 864 shares in the last quarter. Finally, Torren Management LLC bought a new stake in Magnolia Oil & Gas during the 4th quarter worth approximately $38,000. 94.73% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Magnolia Oil & Gas

Here are the key news stories impacting Magnolia Oil & Gas this week:

• Negative Sentiment: CEO Christopher G. Stavros sold 119,954 shares at an average of $29.29 for proceeds of about $3.51M, reducing his direct stake by ~11.95%. Investors may view a large CEO sale as a negative signal about near-term insider conviction. SEC filing
• Negative Sentiment: EVP Timothy D. Yang sold 150,000 shares at an average of $29.29 for proceeds of ~$4.39M, trimming his holding by ~22.17%. A large sale by a top operating executive can raise questions about insider outlook or diversification motives. SEC filing
• Negative Sentiment: CFO Brian Corales sold 33,000 shares at an average of $29.12 for proceeds of ~$961K, a ~15.19% cut to his position. CFO sales often draw extra attention because of their access to near-term financial visibility. SEC filing
• Negative Sentiment: Director Dan F. Smith sold 18,000 shares at ~$29.01 (~$522K), reducing his holding by ~13.12%. Director selling can modestly affect investor perception of governance/insider alignment. SEC filing
• Negative Sentiment: Director Edward P. Djerejian sold 18,000 shares at ~$28.98 (~$522K), lowering his stake by ~14.02%. Multiple board-level sales on close dates can amplify negative sentiment even if sales are for personal reasons. SEC filing

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Zacks Research raised shares of Magnolia Oil & Gas from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Magnolia Oil & Gas in a research report on Thursday, January 22nd. BMO Capital Markets assumed coverage on shares of Magnolia Oil & Gas in a report on Friday, January 9th. They set an “outperform” rating and a $27.00 price target on the stock. The Goldman Sachs Group increased their target price on shares of Magnolia Oil & Gas from $23.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, February 11th. Finally, Citigroup boosted their price objective on Magnolia Oil & Gas from $25.00 to $29.00 and gave the company a “neutral” rating in a research note on Wednesday, February 18th. Eight investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $28.18.

About Magnolia Oil & Gas

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).