Magnolia Oil & Gas Co. (NYSE:MGY – Get Rating) – Investment analysts at KeyCorp upped their Q1 2023 EPS estimates for Magnolia Oil & Gas in a research note issued on Thursday, April 7th. KeyCorp analyst L. Mariani now forecasts that the company will post earnings per share of $0.67 for the quarter, up from their prior forecast of $0.58. KeyCorp has a “Overweight” rating and a $27.00 price target on the stock. KeyCorp also issued estimates for Magnolia Oil & Gas’ Q2 2023 earnings at $0.67 EPS, Q3 2023 earnings at $0.72 EPS, Q4 2023 earnings at $0.77 EPS and FY2023 earnings at $2.83 EPS.
Magnolia Oil & Gas (NYSE:MGY – Get Rating) last issued its quarterly earnings results on Wednesday, February 16th. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.08. Magnolia Oil & Gas had a return on equity of 47.42% and a net margin of 38.85%. The business had revenue of $332.15 million for the quarter, compared to analyst estimates of $326.40 million. During the same quarter in the prior year, the firm posted $0.15 earnings per share. The firm’s revenue for the quarter was up 120.3% compared to the same quarter last year.
NYSE:MGY opened at $25.55 on Monday. Magnolia Oil & Gas has a 1-year low of $10.29 and a 1-year high of $26.61. The business’s 50-day moving average price is $22.76 and its two-hundred day moving average price is $21.01. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $5.79 billion, a price-to-earnings ratio of 10.92 and a beta of 2.26.
The firm also recently declared a semi-annual dividend, which was paid on Tuesday, March 1st. Shareholders of record on Monday, February 14th were issued a $0.20 dividend. This is an increase from Magnolia Oil & Gas’s previous semi-annual dividend of $0.08. This represents a dividend yield of 1.3%. The ex-dividend date of this dividend was Friday, February 11th. Magnolia Oil & Gas’s dividend payout ratio is 17.09%.
In other Magnolia Oil & Gas news, Director Ltd. Enervest sold 7,500,000 shares of the stock in a transaction dated Monday, March 14th. The stock was sold at an average price of $21.72, for a total value of $162,900,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.80% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. Moors & Cabot Inc. bought a new stake in shares of Magnolia Oil & Gas in the third quarter worth $25,000. Clearstead Advisors LLC bought a new stake in shares of Magnolia Oil & Gas in the third quarter worth $25,000. Signaturefd LLC lifted its position in shares of Magnolia Oil & Gas by 43.4% in the third quarter. Signaturefd LLC now owns 1,702 shares of the company’s stock worth $30,000 after purchasing an additional 515 shares in the last quarter. Bellwether Advisors LLC bought a new stake in shares of Magnolia Oil & Gas in the fourth quarter worth $36,000. Finally, Captrust Financial Advisors lifted its position in shares of Magnolia Oil & Gas by 35.2% in the third quarter. Captrust Financial Advisors now owns 2,445 shares of the company’s stock worth $43,000 after purchasing an additional 637 shares in the last quarter.
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.
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