Magnolia Oil & Gas (MGY) Scheduled to Post Quarterly Earnings on Monday

Magnolia Oil & Gas (NYSE:MGYGet Rating) will be issuing its quarterly earnings data before the market opens on Monday, May 9th. Analysts expect the company to announce earnings of $0.83 per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Magnolia Oil & Gas (NYSE:MGYGet Rating) last issued its quarterly earnings data on Wednesday, February 16th. The company reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.08. The firm had revenue of $332.15 million during the quarter, compared to the consensus estimate of $326.40 million. Magnolia Oil & Gas had a net margin of 38.85% and a return on equity of 47.42%. The business’s revenue for the quarter was up 120.3% compared to the same quarter last year. During the same period last year, the business posted $0.15 earnings per share. On average, analysts expect Magnolia Oil & Gas to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Shares of MGY stock opened at $23.24 on Monday. The firm has a 50 day moving average price of $23.72 and a two-hundred day moving average price of $21.56. The company has a quick ratio of 2.37, a current ratio of 2.37 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $5.27 billion, a PE ratio of 9.93 and a beta of 2.26. Magnolia Oil & Gas has a 12-month low of $10.90 and a 12-month high of $26.83.

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

MGY has been the subject of a number of analyst reports. Susquehanna lifted their price target on shares of Magnolia Oil & Gas from $24.00 to $29.00 and gave the company a “positive” rating in a research report on Monday, April 25th. Truist Financial lifted their price target on shares of Magnolia Oil & Gas from $26.00 to $35.00 in a research report on Thursday, April 21st. Piper Sandler lifted their price target 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, April 7th. Wells Fargo & Company lifted their price target 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. Finally, KeyCorp lifted their price target on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday, April 14th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Magnolia Oil & Gas has a consensus rating of “Buy” and an average target price of $26.23.

In related news, Director Ltd. Enervest sold 7,455,815 shares of the business’s stock in a transaction on Thursday, February 3rd. The shares were sold at an average price of $21.00, for a total value of $156,572,115.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 4.80% of the company’s stock.

Several institutional investors have recently modified their holdings of MGY. Allstate Corp acquired a new position in Magnolia Oil & Gas in the fourth quarter valued at $308,000. Amalgamated Bank lifted its holdings in Magnolia Oil & Gas by 2.4% in the fourth quarter. Amalgamated Bank now owns 25,365 shares of the company’s stock valued at $479,000 after buying an additional 594 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in Magnolia Oil & Gas by 211.1% in the third quarter. BNP Paribas Arbitrage SA now owns 26,970 shares of the company’s stock valued at $480,000 after buying an additional 18,302 shares during the period. LPL Financial LLC acquired a new position in Magnolia Oil & Gas in the third quarter valued at $564,000. Finally, Legal & General Group Plc lifted its holdings in Magnolia Oil & Gas by 1.2% in the fourth quarter. Legal & General Group Plc now owns 117,165 shares of the company’s stock valued at $2,211,000 after buying an additional 1,401 shares during the period.

About Magnolia Oil & Gas (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

Earnings History for Magnolia Oil & Gas (NYSE:MGY)

Receive News & Ratings for Magnolia Oil & Gas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Magnolia Oil & Gas and related companies with MarketBeat.com's FREE daily email newsletter.