Equities analysts expect Magnolia Oil & Gas Corp (NYSE:MGY) to report earnings of $0.15 per share for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Magnolia Oil & Gas’ earnings, with the highest EPS estimate coming in at $0.18 and the lowest estimate coming in at $0.12. The business is scheduled to issue its next quarterly earnings results on Tuesday, November 5th.
According to Zacks, analysts expect that Magnolia Oil & Gas will report full-year earnings of $0.52 per share for the current financial year, with EPS estimates ranging from $0.43 to $0.65. For the next year, analysts anticipate that the company will report earnings of $0.68 per share, with EPS estimates ranging from $0.42 to $1.27. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that follow Magnolia Oil & Gas.
Magnolia Oil & Gas (NYSE:MGY) last released its earnings results on Tuesday, August 6th. The company reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.02). The firm had revenue of $242.96 million during the quarter, compared to the consensus estimate of $239.51 million. Magnolia Oil & Gas had a return on equity of 5.12% and a net margin of 12.13%.
A number of analysts recently weighed in on the company. Piper Jaffray Companies assumed coverage on Magnolia Oil & Gas in a research report on Monday, July 8th. They issued an “overweight” rating and a $14.00 target price for the company. TheStreet upgraded Magnolia Oil & Gas from a “d” rating to a “c-” rating in a research report on Tuesday, August 6th. R. F. Lafferty set a $20.00 price objective on Magnolia Oil & Gas and gave the company a “buy” rating in a research report on Wednesday, August 7th. Zacks Investment Research downgraded Magnolia Oil & Gas from a “hold” rating to a “sell” rating in a research report on Wednesday, July 10th. Finally, Wells Fargo & Co initiated coverage on Magnolia Oil & Gas in a research report on Monday, May 20th. They issued an “outperform” rating and a $16.00 price objective for the company. Two analysts have rated the stock with a sell rating and twelve have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $16.33.
NYSE:MGY traded up $0.15 during mid-day trading on Thursday, reaching $10.13. The stock had a trading volume of 1,269,600 shares, compared to its average volume of 1,285,314. The company has a 50 day moving average price of $10.84. Magnolia Oil & Gas has a one year low of $9.27 and a one year high of $15.23. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.15 and a quick ratio of 1.15.
In related news, Chairman Stephen I. Chazen acquired 25,000 shares of the stock in a transaction on Friday, August 9th. The stock was purchased at an average price of $10.22 per share, for a total transaction of $255,500.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 7.90% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of MGY. BlackRock Inc. increased its stake in shares of Magnolia Oil & Gas by 465.0% during the fourth quarter. BlackRock Inc. now owns 1,649,863 shares of the company’s stock valued at $18,495,000 after buying an additional 1,357,865 shares during the period. Thompson Siegel & Walmsley LLC bought a new stake in Magnolia Oil & Gas during the 1st quarter valued at $11,558,000. Columbia Pacific Advisors LLC raised its position in Magnolia Oil & Gas by 11,248.8% during the 2nd quarter. Columbia Pacific Advisors LLC now owns 940,812 shares of the company’s stock valued at $1,783,000 after purchasing an additional 932,522 shares in the last quarter. Rothschild & Co. Asset Management US Inc. bought a new stake in Magnolia Oil & Gas during the 1st quarter valued at $9,356,000. Finally, JVL Advisors L.L.C. bought a new stake in Magnolia Oil & Gas during the 1st quarter valued at $8,021,000. 68.55% of the stock is currently owned by hedge funds and other institutional investors.
About Magnolia Oil & Gas
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.
Recommended Story: What is a front-end load?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.