$0.78 Earnings Per Share Expected for Magnolia Oil & Gas Co. (NYSE:MGY) This Quarter

Analysts predict that Magnolia Oil & Gas Co. (NYSE:MGY – Get Rating) will announce $0.78 earnings per share for the current quarter, Zacks reports. Five analysts have made estimates for Magnolia Oil & Gas’ earnings. The highest EPS estimate is $0.94 and the lowest is $0.54. Magnolia Oil & Gas reported earnings per share of $0.38 during the same quarter last year, which indicates a positive year-over-year growth rate of 105.3%. The company is scheduled to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Magnolia Oil & Gas will report full-year earnings of $3.69 per share for the current financial year, with EPS estimates ranging from $2.22 to $5.67. For the next fiscal year, analysts forecast that the firm will report earnings of $3.52 per share, with EPS estimates ranging from $2.34 to $5.84. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Magnolia Oil & Gas.

Magnolia Oil & Gas (NYSE:MGY – Get Rating) last released its earnings results on Wednesday, February 16th. The company reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.08. The company had revenue of $332.15 million for the quarter, compared to analyst estimates of $326.40 million. Magnolia Oil & Gas had a net margin of 38.85% and a return on equity of 47.42%. The firm’s quarterly revenue was up 120.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.15 EPS.

A number of brokerages have commented on MGY. KeyCorp increased their price objective on shares of Magnolia Oil & Gas from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Thursday, March 24th. Piper Sandler increased their price objective on shares of Magnolia Oil & Gas from $29.00 to $31.00 and gave the company an “overweight” rating in a research report on Thursday. Zacks Investment Research raised shares of Magnolia Oil & Gas from a “hold” rating to a “strong-buy” rating and set a $23.00 price objective on the stock in a research report on Monday, January 24th. Finally, Wells Fargo & Company increased their target price on shares of Magnolia Oil & Gas from $23.00 to $29.00 and gave the company an “equal weight” rating in a research report on Monday, March 14th. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Magnolia Oil & Gas currently has a consensus rating of “Buy” and a consensus price target of $23.72.

In related news, Director Ltd. Enervest sold 7,500,000 shares of the business’s stock in a transaction that occurred on Monday, March 14th. The shares were sold at an average price of $21.72, for a total value of $162,900,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.80% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC acquired a new position in Magnolia Oil & Gas during the fourth quarter valued at approximately $95,271,000. Cardinal Capital Management LLC CT acquired a new position in Magnolia Oil & Gas during the fourth quarter valued at approximately $69,815,000. Janus Henderson Group PLC acquired a new position in Magnolia Oil & Gas during the third quarter valued at approximately $55,952,000. Stephens Investment Management Group LLC acquired a new position in Magnolia Oil & Gas during the third quarter valued at approximately $39,996,000. Finally, First Trust Advisors LP lifted its position in Magnolia Oil & Gas by 185.1% during the fourth quarter. First Trust Advisors LP now owns 2,473,027 shares of the company’s stock valued at $46,666,000 after buying an additional 1,605,590 shares in the last quarter.

Shares of NYSE:MGY traded down $0.76 during trading hours on Wednesday, reaching $24.81. The stock had a trading volume of 41,373 shares, compared to its average volume of 1,920,656. Magnolia Oil & Gas has a 1 year low of $10.29 and a 1 year high of $25.82. The firm’s 50 day moving average is $22.64 and its 200-day moving average is $20.91. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.37 and a current ratio of 2.37. The stock has a market capitalization of $5.62 billion, a price-to-earnings ratio of 10.93 and a beta of 2.26.

The company also recently declared a semi-annual dividend, which was paid on Tuesday, March 1st. Stockholders of record on Monday, February 14th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, February 11th. This is an increase from Magnolia Oil & Gas’s previous semi-annual dividend of $0.08. This represents a dividend yield of 1.3%. Magnolia Oil & Gas’s payout ratio is 17.09%.

Magnolia Oil & Gas Company Profile (Get Rating)

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. Its 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.

See Also