Research Analysts Set Expectations for MGY FY2028 Earnings

Magnolia Oil & Gas Corp (NYSE:MGY) – Analysts at Zacks Research raised their FY2028 earnings per share (EPS) estimates for Magnolia Oil & Gas in a report issued on Monday, March 30th. Zacks Research analyst Team now expects that the company will post earnings of $2.11 per share for the year, up from their previous estimate of $2.09. Zacks Research has a “Strong-Buy” rating on the stock. The consensus estimate for Magnolia Oil & Gas’ current full-year earnings is $2.10 per share.

Magnolia Oil & Gas (NYSE:MGY) last released its earnings results on Thursday, February 5th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.01. The company had revenue of $317.63 million for the quarter, compared to analysts’ expectations of $322.18 million. Magnolia Oil & Gas had a return on equity of 16.67% and a net margin of 24.79%.The business’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.44 EPS.

A number of other equities research analysts have also issued reports on MGY. Piper Sandler lifted their target price on shares of Magnolia Oil & Gas from $28.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday, March 12th. Wells Fargo & Company set a $25.00 target price on Magnolia Oil & Gas in a research note on Monday, February 16th. Truist Financial began coverage on Magnolia Oil & Gas in a research report on Tuesday, March 24th. They issued a “hold” rating and a $33.00 target price on the stock. UBS Group lifted their price target on Magnolia Oil & Gas from $29.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Finally, BMO Capital Markets began coverage on Magnolia Oil & Gas in a report on Friday, January 9th. They issued an “outperform” rating and a $27.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, Magnolia Oil & Gas currently has an average rating of “Moderate Buy” and a consensus target price of $29.82.

Magnolia Oil & Gas Stock Performance

Shares of MGY opened at $31.52 on Tuesday. The company has a market capitalization of $5.88 billion, a PE ratio of 18.33, a PEG ratio of 2.25 and a beta of 0.89. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.54 and a current ratio of 1.54. The company’s 50 day moving average price is $27.85 and its 200 day moving average price is $24.63. Magnolia Oil & Gas has a 52 week low of $19.09 and a 52 week high of $32.76.

Magnolia Oil & Gas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Tuesday, February 10th were paid a dividend of $0.165 per share. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.15. The ex-dividend date was Tuesday, February 10th. This represents a $0.66 annualized dividend and a dividend yield of 2.1%. Magnolia Oil & Gas’s dividend payout ratio is currently 38.37%.

Insider Activity at Magnolia Oil & Gas

In other news, CFO Brian Corales sold 33,000 shares of the stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $29.12, for a total transaction of $960,960.00. Following the transaction, the chief financial officer owned 184,178 shares of the company’s stock, valued at approximately $5,363,263.36. This represents a 15.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Timothy D. Yang sold 150,000 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $29.29, for a total value of $4,393,500.00. Following the completion of the sale, the executive vice president owned 526,661 shares of the company’s stock, valued at approximately $15,425,900.69. This trade represents a 22.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 338,954 shares of company stock worth $9,911,733 in the last 90 days. Insiders own 0.93% of the company’s stock.

Institutional Trading of Magnolia Oil & Gas

A number of institutional investors and hedge funds have recently modified their holdings of the company. State Street Corp grew its stake in Magnolia Oil & Gas by 1.4% in the 4th quarter. State Street Corp now owns 8,800,807 shares of the company’s stock valued at $192,650,000 after buying an additional 125,707 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Magnolia Oil & Gas by 4.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,634,362 shares of the company’s stock worth $145,230,000 after acquiring an additional 264,649 shares during the last quarter. TD Asset Management Inc lifted its position in Magnolia Oil & Gas by 26.6% during the 4th quarter. TD Asset Management Inc now owns 5,671,819 shares of the company’s stock worth $124,156,000 after acquiring an additional 1,193,458 shares during the last quarter. Epoch Investment Partners Inc. boosted its holdings in Magnolia Oil & Gas by 28.8% during the fourth quarter. Epoch Investment Partners Inc. now owns 5,330,064 shares of the company’s stock valued at $116,675,000 after acquiring an additional 1,191,438 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in Magnolia Oil & Gas by 2.2% during the third quarter. Wellington Management Group LLP now owns 5,225,168 shares of the company’s stock valued at $124,725,000 after acquiring an additional 113,458 shares during the period. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corp (NYSE: MGY) is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties.

The company’s core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs).