Magnolia Oil & Gas Co. (NYSE:MGY) Expected to Announce Earnings of $1.11 Per Share

Equities analysts expect Magnolia Oil & Gas Co. (NYSE:MGY – Get Rating) to report earnings per share (EPS) of $1.11 for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Magnolia Oil & Gas’ earnings, with the lowest EPS estimate coming in at $0.91 and the highest estimate coming in at $1.56. Magnolia Oil & Gas reported earnings per share of $0.56 in the same quarter last year, which would indicate a positive year-over-year growth rate of 98.2%. The business is scheduled to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Magnolia Oil & Gas will report full year earnings of $4.22 per share for the current financial year, with EPS estimates ranging from $3.37 to $5.92. For the next fiscal year, analysts forecast that the company will post earnings of $3.99 per share, with EPS estimates ranging from $2.95 to $6.12. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow Magnolia Oil & Gas.

Magnolia Oil & Gas (NYSE:MGY – Get Rating) last announced its quarterly earnings data on Monday, May 9th. The company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.03). The company had revenue of $377.84 million during the quarter, compared to the consensus estimate of $374.63 million. Magnolia Oil & Gas had a net margin of 41.80% and a return on equity of 55.08%. The business’s revenue for the quarter was up 80.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.38 EPS.

A number of analysts have commented on the company. Piper Sandler upped their price target on Magnolia Oil & Gas from $29.00 to $31.00 and gave the stock an “overweight” rating in a research report on Thursday, April 7th. Susquehanna Bancshares upped their price target on Magnolia Oil & Gas from $24.00 to $29.00 and gave the stock a “positive” rating in a research report on Monday, April 25th. Wells Fargo & Company increased their target price on Magnolia Oil & Gas from $23.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Monday, March 14th. Zacks Investment Research upgraded Magnolia Oil & Gas from a “hold” rating to a “strong-buy” rating and set a $29.00 target price for the company in a research report on Tuesday, April 12th. Finally, KeyCorp raised their price target on Magnolia Oil & Gas from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Thursday, April 14th. Five 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. According to data from MarketBeat.com, Magnolia Oil & Gas presently has a consensus rating of “Buy” and an average target price of $26.23.

MGY stock traded down $0.81 during trading on Wednesday, reaching $23.79. The stock had a trading volume of 22,069 shares, compared to its average volume of 1,670,120. Magnolia Oil & Gas has a 52 week low of $11.59 and a 52 week high of $26.83. The stock’s 50 day moving average is $24.10 and its two-hundred day moving average is $21.79. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.36. The firm has a market cap of $5.39 billion, a PE ratio of 8.30 and a beta of 2.12.

In related news, Director Ltd. Enervest sold 7,500,000 shares of the business’s stock in a transaction on Monday, March 14th. The stock was sold at an average price of $21.72, for a total transaction of $162,900,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 4.80% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Moors & Cabot Inc. acquired a new position in shares of Magnolia Oil & Gas in the 3rd quarter valued at about $25,000. Clearstead Advisors LLC acquired a new position in Magnolia Oil & Gas in the 3rd quarter worth about $25,000. Bellwether Advisors LLC acquired a new position in Magnolia Oil & Gas in the 4th quarter worth about $36,000. Captrust Financial Advisors raised its holdings in Magnolia Oil & Gas by 35.2% in the 3rd 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 period. Finally, NN Investment Partners Holdings N.V. acquired a new position in Magnolia Oil & Gas in the 1st quarter worth about $54,000. 96.86% of the stock is owned by institutional investors.

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.

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