Equities analysts forecast that Magnolia Oil & Gas Corp (NYSE:MGY) will announce earnings of $0.17 per share for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Magnolia Oil & Gas’ earnings. The highest EPS estimate is $0.22 and the lowest is $0.12. Magnolia Oil & Gas posted earnings of ($0.04) per share in the same quarter last year, which would indicate a positive year over year growth rate of 525%. The business is scheduled to report its next quarterly earnings results after the market closes on Tuesday, August 6th.
According to Zacks, analysts expect that Magnolia Oil & Gas will report full year earnings of $0.64 per share for the current year, with EPS estimates ranging from $0.49 to $0.87. For the next year, analysts expect that the business will report earnings of $0.79 per share, with EPS estimates ranging from $0.56 to $1.12. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Magnolia Oil & Gas.
Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings results on Monday, May 6th. The company reported $0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.06). The business had revenue of $218.67 million for the quarter, compared to analysts’ expectations of $221.11 million.
Several equities analysts have commented on the stock. Piper Jaffray Companies set a $92.00 price objective on shares of Wintrust Financial and gave the company a “buy” rating in a report on Monday, July 8th. Credit Suisse Group reaffirmed a “buy” rating and set a $241.00 price objective on shares of FedEx in a research report on Monday, April 1st. Zacks Investment Research cut shares of ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday, July 10th. Wells Fargo & Co cut shares of Occidental Petroleum from an “outperform” rating to a “market perform” rating in a report on Monday, May 20th. Finally, ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating and thirteen have assigned a buy rating to the company’s stock. Magnolia Oil & Gas currently has an average rating of “Buy” and an average target price of $16.08.
A number of large investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. lifted its position in shares of Magnolia Oil & Gas by 449.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,792 shares of the company’s stock valued at $98,000 after acquiring an additional 7,192 shares during the period. BlackRock Inc. raised its position in shares of Magnolia Oil & Gas by 465.0% during the 4th quarter. BlackRock Inc. now owns 1,649,863 shares of the company’s stock worth $18,495,000 after purchasing an additional 1,357,865 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Magnolia Oil & Gas by 128.7% in the 4th quarter. Bank of New York Mellon Corp now owns 117,747 shares of the company’s stock worth $1,320,000 after acquiring an additional 66,253 shares during the period. Northern Trust Corp grew its stake in Magnolia Oil & Gas by 5.4% in the 4th quarter. Northern Trust Corp now owns 275,919 shares of the company’s stock worth $3,092,000 after acquiring an additional 14,039 shares during the period. Finally, United Services Automobile Association purchased a new stake in Magnolia Oil & Gas in the 4th quarter worth approximately $165,000. Institutional investors own 67.23% of the company’s stock.
MGY traded up $0.13 during trading on Tuesday, reaching $10.80. 2,430,962 shares of the stock were exchanged, compared to its average volume of 2,072,824. Magnolia Oil & Gas has a twelve month low of $9.88 and a twelve month high of $15.23. The business’s 50 day moving average price is $11.17. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.14.
Magnolia Oil & Gas Company Profile
Magnolia Oil & Gas Corporation engages in the business of acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. The company has oil and natural gas properties located primarily in Karnes County and the Giddings Field in South Texas primarily comprising the Eagle Ford Shale and the Austin Chalk formation.
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