$0.15 Earnings Per Share Expected for Magnolia Oil & Gas Corp (NYSE:MGY) This Quarter

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Brokerages expect Magnolia Oil & Gas Corp (NYSE:MGY) to announce $0.15 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Magnolia Oil & Gas’ earnings, with estimates ranging from $0.12 to $0.18. The business is expected to report its next earnings report 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 fiscal year, analysts forecast that the firm will post earnings of $0.68 per share, with EPS estimates ranging from $0.42 to $1.27. Zacks’ earnings per share averages are an average based on a survey of research firms that that provide coverage for Magnolia Oil & Gas.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.12 EPS for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.02). The company had revenue of $242.96 million for the quarter, compared to analyst estimates of $239.51 million. Magnolia Oil & Gas had a net margin of 12.13% and a return on equity of 5.12%.

A number of research analysts have recently commented on MGY shares. Zacks Investment Research raised shares of Magnolia Oil & Gas from a “sell” rating to a “hold” rating in a research report on Wednesday. Piper Jaffray Companies started coverage on shares of Magnolia Oil & Gas in a research report on Monday, July 8th. They set an “overweight” rating and a $14.00 price objective for the company. TheStreet raised shares of 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 shares of Magnolia Oil & Gas and gave the company a “buy” rating in a research report on Wednesday, August 7th. Finally, ValuEngine lowered shares of Magnolia Oil & Gas from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $16.33.

In other news, Chairman Stephen I. Chazen acquired 25,000 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was bought at an average price of $10.22 per share, with a total value of $255,500.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 7.90% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Waddell & Reed Financial Inc. increased its holdings in shares of Magnolia Oil & Gas by 1.2% during the second quarter. Waddell & Reed Financial Inc. now owns 2,873,225 shares of the company’s stock worth $33,272,000 after buying an additional 33,066 shares in the last quarter. Yaupon Capital Management LP increased its holdings in shares of Magnolia Oil & Gas by 31.5% during the second quarter. Yaupon Capital Management LP now owns 39,447 shares of the company’s stock worth $457,000 after buying an additional 9,447 shares in the last quarter. Nuveen Asset Management LLC acquired a new stake in shares of Magnolia Oil & Gas during the second quarter worth approximately $5,859,000. Price T Rowe Associates Inc. MD grew its stake in shares of Magnolia Oil & Gas by 9.9% during the second quarter. Price T Rowe Associates Inc. MD now owns 6,303,603 shares of the company’s stock valued at $72,996,000 after purchasing an additional 566,663 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Magnolia Oil & Gas by 1.2% during the second quarter. Victory Capital Management Inc. now owns 4,200,625 shares of the company’s stock valued at $48,643,000 after purchasing an additional 49,899 shares during the last quarter. 68.55% of the stock is owned by institutional investors.

Shares of MGY traded up $0.04 during trading hours on Thursday, reaching $9.84. 1,218,500 shares of the company traded hands, compared to its average volume of 1,284,869. The stock’s fifty day moving average is $10.77 and its 200 day moving average is $11.88. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.14. Magnolia Oil & Gas has a 1-year low of $9.27 and a 1-year 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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Earnings History and Estimates for Magnolia Oil & Gas (NYSE:MGY)

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