Magnolia Oil & Gas Co. (NYSE:MGY – Get Rating) – Research analysts at Seaport Res Ptn raised their Q1 2022 earnings per share estimates for shares of Magnolia Oil & Gas in a research report issued on Tuesday, April 19th. Seaport Res Ptn analyst N. Pope now expects that the company will earn $0.91 per share for the quarter, up from their previous estimate of $0.81. Seaport Res Ptn also issued estimates for Magnolia Oil & Gas’ Q3 2022 earnings at $1.19 EPS and Q4 2022 earnings at $1.16 EPS.
Several other research analysts also recently commented on MGY. Zacks Investment Research raised Magnolia Oil & Gas from a “hold” rating to a “strong-buy” rating and set a $29.00 price objective on the stock in a research note on Tuesday, April 12th. Wells Fargo & Company raised their target price on shares of Magnolia Oil & Gas from $23.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Monday, March 14th. KeyCorp upped their price target on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, April 14th. Finally, Piper Sandler increased their price objective on shares of Magnolia Oil & Gas from $29.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, April 7th. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $24.50.
Magnolia Oil & Gas (NYSE:MGY – Get Rating) last released its quarterly earnings results on Wednesday, February 16th. The company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.08. The firm had revenue of $332.15 million for the quarter, compared to analysts’ expectations of $326.40 million. Magnolia Oil & Gas had a return on equity of 47.42% and a net margin of 38.85%. The company’s revenue was up 120.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.15 EPS.
The business also recently disclosed a semi-annual dividend, which was paid on Tuesday, March 1st. Stockholders of record on Monday, February 14th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, February 11th. This represents a dividend yield of 1.3%. This is a boost from Magnolia Oil & Gas’s previous semi-annual dividend of $0.08. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 17.09%.
In other news, Director Ltd. Enervest sold 7,500,000 shares of the business’s stock in a transaction 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 SEC, which is available at the SEC website. Company insiders own 4.80% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Clearstead Advisors LLC bought a new position in Magnolia Oil & Gas during the third quarter valued at approximately $25,000. Signaturefd LLC increased its position in 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 during the last quarter. Bellwether Advisors LLC bought a new stake in Magnolia Oil & Gas in the fourth quarter worth $36,000. Captrust Financial Advisors increased its position in 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 during the last quarter. Finally, Advisor Group Holdings Inc. increased its position in Magnolia Oil & Gas by 32.9% in the third quarter. Advisor Group Holdings Inc. now owns 3,010 shares of the company’s stock worth $55,000 after purchasing an additional 745 shares during 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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