John B. Walker Buys 160,000 Shares of Magnolia Oil & Gas Corp (NYSE:MGY) Stock

Magnolia Oil & Gas Corp (NYSE:MGY) Director John B. Walker acquired 160,000 shares of the business’s stock in a transaction on Wednesday, September 12th. The shares were bought at an average price of $13.76 per share, for a total transaction of $2,201,600.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

NYSE MGY traded up $0.11 on Friday, hitting $14.94. 428,783 shares of the company were exchanged, compared to its average volume of 1,007,962. Magnolia Oil & Gas Corp has a twelve month low of $9.66 and a twelve month high of $15.23.

Magnolia Oil & Gas (NYSE:MGY) last released its earnings results on Tuesday, August 14th. The company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.92). On average, sell-side analysts expect that Magnolia Oil & Gas Corp will post 1.5 earnings per share for the current year.

A hedge fund recently bought a new stake in Magnolia Oil & Gas stock. Fox Run Management L.L.C. bought a new stake in shares of Magnolia Oil & Gas Corp (NYSE:MGY) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 10,954 shares of the company’s stock, valued at approximately $164,000. 27.26% of the stock is owned by institutional investors.

Several research firms have issued reports on MGY. Zacks Investment Research upgraded Magnolia Oil & Gas from a “hold” rating to a “strong-buy” rating and set a $16.00 price objective on the stock in a report on Wednesday, September 12th. Imperial Capital restated a “buy” rating and set a $18.00 price objective (up previously from $16.00) on shares of Magnolia Oil & Gas in a report on Wednesday, August 22nd. Finally, SunTrust Banks began coverage on Magnolia Oil & Gas in a report on Thursday, August 2nd. They set a “buy” rating on the stock.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corporation operates as an oil and gas exploration and production company. It has operations in South Texas in the core of the Eagle Ford. The company is headquartered in Houston, Texas.

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