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Magnolia Oil & Gas Sees Unusually High Options Volume (NYSE:MGY)

By September 7, 2019 No Comments

Magnolia Oil & Gas Corp (NYSE:MGY) was the target of some unusual options trading activity on Thursday. Investors purchased 829 put options on the company. This represents an increase of approximately 1,464% compared to the average daily volume of 53 put options.

A number of equities research analysts recently commented on the stock. TheStreet raised shares of Magnolia Oil & Gas from a “d” rating to a “c-” rating in a research note on Tuesday, August 6th. R. F. Lafferty set a $20.00 price objective on shares of Magnolia Oil & Gas and gave the company a “buy” rating in a research note on Wednesday, August 7th. Zacks Investment Research cut shares of Magnolia Oil & Gas from a “hold” rating to a “sell” rating in a research note on Tuesday, August 27th. Barclays assumed coverage on shares of Magnolia Oil & Gas in a research note on Friday, August 30th. They issued an “overweight” rating and a $13.00 price objective on the stock. Finally, Wells Fargo & Co assumed coverage on shares of Magnolia Oil & Gas in a research note on Monday, May 20th. They issued an “outperform” rating and a $16.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating and twelve have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $15.92.

In related news, Chairman Stephen I. Chazen purchased 25,000 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was acquired at an average price of $10.22 per share, for a total transaction of $255,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 7.90% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. boosted its stake in shares of Magnolia Oil & Gas by 5.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 24,554 shares of the company’s stock worth $284,000 after purchasing an additional 1,331 shares during the last quarter. Aperio Group LLC acquired a new stake in shares of Magnolia Oil & Gas during the 2nd quarter worth about $25,000. Amica Retiree Medical Trust boosted its stake in shares of Magnolia Oil & Gas by 5.0% during the 2nd quarter. Amica Retiree Medical Trust now owns 60,641 shares of the company’s stock worth $702,000 after purchasing an additional 2,877 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Magnolia Oil & Gas during the 2nd quarter worth about $71,000. Finally, Bank of Montreal Can acquired a new stake in shares of Magnolia Oil & Gas during the 2nd quarter worth about $98,000. 65.24% of the stock is currently owned by institutional investors.

Magnolia Oil & Gas stock opened at $10.33 on Friday. Magnolia Oil & Gas has a 12-month low of $9.27 and a 12-month high of $15.23. The firm’s 50-day moving average is $10.32 and its two-hundred day moving average is $11.70. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.14.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.02). Magnolia Oil & Gas had a return on equity of 5.12% and a net margin of 12.13%. The firm had revenue of $242.96 million for the quarter, compared to analyst estimates of $239.51 million. On average, research analysts anticipate that Magnolia Oil & Gas will post 0.46 EPS for the current fiscal year.

Magnolia Oil & Gas Company Profile

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.

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