Michael G. Macdougall Sells 47,500 Shares of Magnolia Oil & Gas Corp (NYSE:MGY) Stock

Magnolia Oil & Gas Corp (NYSE:MGY) Director Michael G. Macdougall sold 47,500 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $11.32, for a total transaction of $537,700.00. Following the completion of the sale, the director now directly owns 21,961 shares in the company, valued at $248,598.52. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Magnolia Oil & Gas stock opened at $11.04 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.54 and a quick ratio of 1.54. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of 22.63 and a beta of 1.28. The firm has a 50-day moving average of $10.94 and a two-hundred day moving average of $10.91. Magnolia Oil & Gas Corp has a 1 year low of $9.27 and a 1 year high of $14.13.

Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results on Monday, November 4th. The company reported $0.06 EPS for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.04). Magnolia Oil & Gas had a return on equity of 2.81% and a net margin of 7.80%. The company had revenue of $244.80 million for the quarter, compared to analysts’ expectations of $247.17 million. Research analysts expect that Magnolia Oil & Gas Corp will post 0.35 earnings per share for the current year.

Several brokerages have issued reports on MGY. Citigroup boosted their target price on Magnolia Oil & Gas from $11.50 to $12.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. ValuEngine upgraded Magnolia Oil & Gas from a “sell” rating to a “hold” rating in a report on Tuesday. KeyCorp began coverage on Magnolia Oil & Gas in a report on Wednesday, November 27th. They issued an “overweight” rating and a $14.00 price target on the stock. Piper Jaffray Companies decreased their price target on Magnolia Oil & Gas from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Monday, September 30th. Finally, Johnson Rice cut Magnolia Oil & Gas from a “buy” rating to an “accumulate” rating in a report on Tuesday, November 19th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $15.50.

Several hedge funds and other institutional investors have recently made changes to their positions in MGY. BlackRock Inc. grew its stake in Magnolia Oil & Gas by 301.3% in the second quarter. BlackRock Inc. now owns 6,880,797 shares of the company’s stock worth $79,679,000 after purchasing an additional 5,166,376 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Magnolia Oil & Gas in the 3rd quarter worth $20,537,000. Silvercrest Asset Management Group LLC grew its position in shares of Magnolia Oil & Gas by 27.5% during the 2nd quarter. Silvercrest Asset Management Group LLC now owns 4,851,525 shares of the company’s stock worth $56,180,000 after buying an additional 1,045,414 shares in the last quarter. Columbia Pacific Advisors LLC grew its position in shares of Magnolia Oil & Gas by 11,248.8% during the 2nd quarter. Columbia Pacific Advisors LLC now owns 940,812 shares of the company’s stock worth $1,783,000 after buying an additional 932,522 shares in the last quarter. Finally, Wildcat Capital Management LLC bought a new position in shares of Magnolia Oil & Gas during the 3rd quarter worth $9,963,000. Hedge funds and other institutional investors own 68.56% of the company’s stock.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corporation engages in the business of acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. The company has oil and natural gas properties located primarily in Karnes County and the Giddings Field in South Texas primarily comprising the Eagle Ford Shale and the Austin Chalk formation.

Featured Article: What is Forex?

Insider Buying and Selling by Quarter for Magnolia Oil & Gas (NYSE:MGY)

Receive News & Ratings for Magnolia Oil & Gas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Magnolia Oil & Gas and related companies with MarketBeat.com's FREE daily email newsletter.