Magnolia Oil & Gas Corp (MGY) Expected to Post Earnings of $0.17 Per Share

Equities analysts forecast that Magnolia Oil & Gas Corp (NYSE:MGY) will post earnings per share of $0.17 for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Magnolia Oil & Gas’ earnings. The highest EPS estimate is $0.24 and the lowest is $0.10. Magnolia Oil & Gas posted earnings of ($0.02) per share in the same quarter last year, which would suggest a positive year over year growth rate of 950%. The business is expected to issue its next earnings results on Monday, May 13th.

According to Zacks, analysts expect that Magnolia Oil & Gas will report full-year earnings of $0.78 per share for the current financial year, with EPS estimates ranging from $0.52 to $0.94. For the next fiscal year, analysts forecast that the firm will post earnings of $1.00 per share, with EPS estimates ranging from $0.84 to $1.21. Zacks’ EPS averages are an average based on a survey of sell-side research firms that follow Magnolia Oil & Gas.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings results on Monday, February 25th. The company reported $0.22 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.07). The firm had revenue of $255.06 million during the quarter, compared to the consensus estimate of $267.36 million.

Several brokerages recently commented on MGY. Oppenheimer set a $15.00 target price on Magnolia Oil & Gas and gave the stock a “buy” rating in a report on Tuesday, February 26th. Northland Securities reissued a “buy” rating and set a $19.00 target price on shares of Magnolia Oil & Gas in a report on Tuesday, February 26th. Johnson Rice began coverage on Magnolia Oil & Gas in a report on Monday, January 7th. They set a “buy” rating and a $17.00 target price on the stock. R. F. Lafferty began coverage on Magnolia Oil & Gas in a report on Thursday, January 17th. They set a “buy” rating and a $17.00 target price on the stock. Finally, Zacks Investment Research raised Magnolia Oil & Gas from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 30th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $16.50.

Shares of MGY traded down $0.12 during mid-day trading on Friday, reaching $12.00. 534,939 shares of the company’s stock traded hands, compared to its average volume of 1,233,858. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.14. Magnolia Oil & Gas has a 12 month low of $9.88 and a 12 month high of $15.23.

In other news, Chairman Stephen I. Chazen bought 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were purchased at an average price of $12.31 per share, with a total value of $307,750.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP bought a new position in shares of Magnolia Oil & Gas in the fourth quarter valued at $181,000. FMR LLC increased its holdings in shares of Magnolia Oil & Gas by 1.8% in the fourth quarter. FMR LLC now owns 20,476,000 shares of the company’s stock valued at $229,536,000 after buying an additional 356,100 shares in the last quarter. D. E. Shaw & Co. Inc. bought a new position in shares of Magnolia Oil & Gas in the fourth quarter valued at $2,082,000. Bank of America Corp DE bought a new position in shares of Magnolia Oil & Gas in the fourth quarter valued at $149,000. Finally, 1492 Capital Management LLC increased its holdings in shares of Magnolia Oil & Gas by 42.8% in the fourth quarter. 1492 Capital Management LLC now owns 123,416 shares of the company’s stock valued at $1,383,000 after buying an additional 37,017 shares in the last quarter. 63.75% of the stock is currently owned by institutional investors.

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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Earnings History and Estimates for Magnolia Oil & Gas (NYSE:MGY)

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