Brokerages predict that Magnolia Oil & Gas Corp (NYSE:MGY) will report sales of $233.50 million for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Magnolia Oil & Gas’ earnings. The lowest sales estimate is $210.30 million and the highest is $253.00 million. The company is expected to issue its next quarterly earnings results on Monday, May 13th.
According to Zacks, analysts expect that Magnolia Oil & Gas will report full year sales of $987.54 million for the current fiscal year, with estimates ranging from $905.80 million to $1.03 billion. For the next financial year, analysts anticipate that the business will post sales of $1.11 billion, with estimates ranging from $1.05 billion to $1.18 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Magnolia Oil & Gas.
Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Monday, February 25th. The company reported $0.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.07). The business had revenue of $255.06 million during the quarter, compared to analysts’ expectations of $267.36 million.
In other news, Chairman Stephen I. Chazen bought 25,000 shares of the stock in a transaction on Wednesday, March 6th. The stock was acquired at an average price of $12.31 per share, with a total value of $307,750.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC grew its position in shares of Magnolia Oil & Gas by 1.8% in the 4th 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 during the last quarter. Vanguard Group Inc. bought a new stake in shares of Magnolia Oil & Gas in the 3rd quarter valued at about $113,312,000. Vanguard Group Inc bought a new stake in shares of Magnolia Oil & Gas in the 3rd quarter valued at about $113,312,000. Capital World Investors bought a new stake in shares of Magnolia Oil & Gas in the 3rd quarter valued at about $60,040,000. Finally, Victory Capital Management Inc. grew its position in shares of Magnolia Oil & Gas by 496.0% in the 4th quarter. Victory Capital Management Inc. now owns 3,570,458 shares of the company’s stock valued at $40,025,000 after buying an additional 2,971,428 shares during the last quarter. 63.75% of the stock is owned by institutional investors and hedge funds.
NYSE MGY traded up $0.44 during midday trading on Monday, hitting $12.44. The company had a trading volume of 1,039,674 shares, compared to its average volume of 1,153,064. 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 twelve month low of $9.88 and a twelve month high of $15.23.
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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