FY2024 EPS Estimates for MGY Lifted by Capital One Financial

Magnolia Oil & Gas Co. (NYSE:MGY) – Analysts at Capital One Financial lifted their FY2024 EPS estimates for shares of Magnolia Oil & Gas in a report released on Wednesday, January 8th. Capital One Financial analyst P. Johnston now expects that the company will post earnings per share of $2.02 for the year, up from their prior estimate of $2.01. The consensus estimate for Magnolia Oil & Gas’ current full-year earnings is $2.00 per share. Capital One Financial also issued estimates for Magnolia Oil & Gas’ Q1 2025 earnings at $0.55 EPS and Q2 2025 earnings at $0.58 EPS.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. Magnolia Oil & Gas had a return on equity of 20.78% and a net margin of 28.88%. The firm had revenue of $333.14 million for the quarter, compared to the consensus estimate of $331.45 million.

Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. cut their price target on shares of Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Wells Fargo & Company lowered shares of Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $26.00 to $22.00 in a report on Tuesday, October 1st. Mizuho boosted their price objective on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. Truist Financial upped their price target on Magnolia Oil & Gas from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Benchmark reissued a “hold” rating on shares of Magnolia Oil & Gas in a report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $27.58.

Magnolia Oil & Gas Stock Up 1.0 %

Shares of Magnolia Oil & Gas stock opened at $24.22 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.47. The firm has a fifty day moving average of $25.67 and a two-hundred day moving average of $25.50. The company has a market cap of $4.76 billion, a P/E ratio of 11.99, a PEG ratio of 1.29 and a beta of 2.00. Magnolia Oil & Gas has a one year low of $19.16 and a one year high of $29.02.

Magnolia Oil & Gas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.15%. The ex-dividend date was Friday, November 8th. Magnolia Oil & Gas’s payout ratio is currently 25.74%.

Institutional Investors Weigh In On Magnolia Oil & Gas

Several institutional investors have recently bought and sold shares of MGY. Harbor Capital Advisors Inc. bought a new stake in Magnolia Oil & Gas in the third quarter worth about $25,000. First Horizon Advisors Inc. increased its stake in Magnolia Oil & Gas by 64.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock valued at $25,000 after buying an additional 396 shares during the period. GAMMA Investing LLC grew its holdings in shares of Magnolia Oil & Gas by 62.4% during the 3rd quarter. GAMMA Investing LLC now owns 2,609 shares of the company’s stock valued at $64,000 after acquiring an additional 1,002 shares in the last quarter. Covestor Ltd raised its stake in shares of Magnolia Oil & Gas by 36.8% during the 3rd quarter. Covestor Ltd now owns 2,986 shares of the company’s stock worth $73,000 after purchasing an additional 804 shares in the last quarter. Finally, Truvestments Capital LLC bought a new position in Magnolia Oil & Gas during the third quarter valued at approximately $90,000. Institutional investors and hedge funds own 94.73% of the company’s stock.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corporation, an independent oil and natural gas company, 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 area in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.