Brokerages expect Magnolia Oil & Gas Corp (NYSE:MGY) to announce $0.09 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Magnolia Oil & Gas’ earnings. The lowest EPS estimate is $0.06 and the highest is $0.13. Magnolia Oil & Gas reported earnings per share of $0.22 in the same quarter last year, which suggests a negative year over year growth rate of 59.1%. The company is expected to report its next quarterly earnings report on Monday, February 24th.
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According to Zacks, analysts expect that Magnolia Oil & Gas will report full year earnings of $0.35 per share for the current fiscal year, with EPS estimates ranging from $0.25 to $0.44. For the next year, analysts forecast that the company will report earnings of $0.39 per share, with EPS estimates ranging from $0.16 to $0.61. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that cover Magnolia Oil & Gas.
MGY has been the topic of a number of analyst reports. R. F. Lafferty set a $20.00 target price on shares of Magnolia Oil & Gas and gave the stock a “buy” rating in a research note on Wednesday, August 7th. TheStreet raised shares of Magnolia Oil & Gas from a “d” rating to a “b-” rating in a research note on Wednesday, October 30th. Citigroup lifted their target price on shares of Magnolia Oil & Gas from $11.50 to $12.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Barclays initiated coverage on shares of Magnolia Oil & Gas in a research note on Friday, August 30th. They set an “overweight” rating and a $13.00 target price on the stock. Finally, Piper Jaffray Companies reduced their target price on shares of Magnolia Oil & Gas from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $15.50.
MGY stock traded up $0.17 during trading on Thursday, reaching $11.80. 1,039,010 shares of the stock were exchanged, compared to its average volume of 1,302,917. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.14. The business has a 50 day moving average price of $10.65 and a 200-day moving average price of $11.11. Magnolia Oil & Gas has a 1 year low of $9.27 and a 1 year high of $14.13. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of 23.31 and a beta of 1.24.
Institutional investors have recently added to or reduced their stakes in the company. Aperio Group LLC purchased a new stake in shares of Magnolia Oil & Gas in the 2nd quarter valued at approximately $25,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Magnolia Oil & Gas in the 2nd quarter valued at approximately $71,000. Bank of Montreal Can purchased a new stake in shares of Magnolia Oil & Gas in the 2nd quarter valued at approximately $98,000. First Mercantile Trust Co. raised its stake in shares of Magnolia Oil & Gas by 28.2% in the 3rd quarter. First Mercantile Trust Co. now owns 10,740 shares of the company’s stock valued at $119,000 after acquiring an additional 2,360 shares during the period. Finally, Bingham Osborn & Scarborough LLC purchased a new stake in shares of Magnolia Oil & Gas in the 3rd quarter valued at approximately $126,000. 67.07% of the stock is currently owned by institutional investors and hedge funds.
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.
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