Magnolia Oil & Gas (NYSE:MGY) Stock Price Down 5.6% – Time to Sell?

Magnolia Oil & Gas Corp (NYSE:MGY)’s stock price traded down 5.6% during trading on Monday . The company traded as low as $25.74 and last traded at $25.74. Approximately 4,403,182 shares were traded during trading, an increase of 57% from the average session volume of 2,801,536 shares. The stock had previously closed at $27.26.

Analysts Set New Price Targets

MGY has been the topic of several recent analyst reports. Wells Fargo & Company decreased their price objective on shares of Magnolia Oil & Gas from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 13th. UBS Group dropped their target price on shares of Magnolia Oil & Gas from $38.00 to $34.00 and set a “buy” rating for the company in a report on Friday, July 10th. Mizuho set a $33.00 price target on Magnolia Oil & Gas in a research note on Wednesday. Roth Capital raised Magnolia Oil & Gas from a “neutral” rating to a “buy” rating and set a $31.00 price target on the stock in a report on Monday, June 22nd. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Magnolia Oil & Gas in a research note on Monday, June 29th. Eight analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $31.58.

Magnolia Oil & Gas Stock Up 2.6%

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 stock has a market cap of $4.76 billion, a P/E ratio of 14.95 and a beta of 0.70. The company’s 50 day moving average price is $27.23 and its two-hundred day moving average price is $27.39.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.51 by $0.03. The firm had revenue of $358.51 million for 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%.The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.54 earnings per share. As a group, research analysts expect that Magnolia Oil & Gas Corp will post 2.67 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

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

Hedge Funds Weigh In On Magnolia Oil & Gas

Several hedge funds have recently made changes to their positions in the company. State Street Corp lifted its position in Magnolia Oil & Gas by 1.4% during the 4th quarter. State Street Corp now owns 8,800,807 shares of the company’s stock worth $192,650,000 after acquiring an additional 125,707 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Magnolia Oil & Gas by 5.9% in the first quarter. Dimensional Fund Advisors LP now owns 7,028,781 shares of the company’s stock valued at $221,910,000 after purchasing an additional 394,419 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Magnolia Oil & Gas by 2.8% in the first quarter. Janus Henderson Group PLC now owns 6,279,636 shares of the company’s stock valued at $198,248,000 after purchasing an additional 170,174 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Magnolia Oil & Gas by 790.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 6,263,808 shares of the company’s stock worth $197,748,000 after purchasing an additional 5,560,619 shares during the last quarter. Finally, TD Asset Management Inc raised its stake in shares of Magnolia Oil & Gas by 26.6% in the fourth quarter. TD Asset Management Inc now owns 5,671,819 shares of the company’s stock worth $124,156,000 after purchasing an additional 1,193,458 shares during the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

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).