Magnolia Oil & Gas Co. (NYSE:MGY) saw unusually large options trading activity on Wednesday. Stock investors acquired 7,218 call options on the stock. This is an increase of approximately 1,401% compared to the average daily volume of 481 call options.
Shares of NYSE MGY opened at $8.69 on Thursday. The firm’s 50-day moving average price is $7.49 and its 200-day moving average price is $6.24. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of -1.18 and a beta of 2.71. Magnolia Oil & Gas has a 12-month low of $3.23 and a 12-month high of $12.61.
Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Thursday, November 5th. The company reported $0.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.01. Magnolia Oil & Gas had a negative net margin of 199.68% and a negative return on equity of 1.06%. The company had revenue of $121.07 million for the quarter, compared to analyst estimates of $128.77 million. On average, equities analysts predict that Magnolia Oil & Gas will post -0.02 EPS for the current fiscal year.
MGY has been the subject of several recent analyst reports. BidaskClub raised shares of Magnolia Oil & Gas from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 9th. KeyCorp increased their price objective on shares of Magnolia Oil & Gas from $8.00 to $9.00 and gave the company an “overweight” rating in a report on Thursday, January 7th. Credit Suisse Group dropped their price objective on shares of Magnolia Oil & Gas from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Monday, November 9th. MKM Partners downgraded shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and increased their price objective for the company from $6.00 to $7.00 in a report on Monday, November 30th. Finally, Piper Sandler increased their price objective on shares of Magnolia Oil & Gas from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Wednesday, November 18th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $7.40.
In other news, CEO Stephen I. Chazen bought 40,000 shares of the company’s stock in a transaction that occurred on Thursday, November 19th. The stock was bought at an average price of $5.77 per share, with a total value of $230,800.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 5.57% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Albert D Mason Inc. raised its position in Magnolia Oil & Gas by 7.2% in the 4th quarter. Albert D Mason Inc. now owns 31,455 shares of the company’s stock worth $222,000 after purchasing an additional 2,100 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in Magnolia Oil & Gas by 45.2% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 16,050 shares of the company’s stock worth $83,000 after purchasing an additional 5,000 shares during the period. California Public Employees Retirement System raised its position in Magnolia Oil & Gas by 2.2% in the 3rd quarter. California Public Employees Retirement System now owns 283,243 shares of the company’s stock worth $1,464,000 after purchasing an additional 6,000 shares during the period. Nisa Investment Advisors LLC raised its position in Magnolia Oil & Gas by 589.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 7,720 shares of the company’s stock worth $40,000 after purchasing an additional 6,600 shares during the period. Finally, JBF Capital Inc. purchased a new stake in Magnolia Oil & Gas in the 3rd quarter worth about $34,000. 62.30% of the stock is currently owned by institutional investors.
Magnolia Oil & Gas Company Profile
Magnolia Oil & Gas Corporation engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. The company’s properties are located primarily in Karnes County and the Giddings Field in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.
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