Q3 2024 EPS Estimates for Magnolia Oil & Gas Co. Reduced by Zacks Research (NYSE:MGY)

Magnolia Oil & Gas Co. (NYSE:MGY) – Investment analysts at Zacks Research lowered their Q3 2024 earnings per share (EPS) estimates for shares of Magnolia Oil & Gas in a note issued to investors on Wednesday, August 14th. Zacks Research analyst N. Choudhury now expects that the company will earn $0.55 per share for the quarter, down from their prior estimate of $0.56. The consensus estimate for Magnolia Oil & Gas’ current full-year earnings is $2.16 per share. Zacks Research also issued estimates for Magnolia Oil & Gas’ Q4 2024 earnings at $0.54 EPS, Q2 2025 earnings at $0.54 EPS, Q3 2025 earnings at $0.57 EPS, Q4 2025 earnings at $0.56 EPS, FY2025 earnings at $2.19 EPS, Q1 2026 earnings at $0.54 EPS and FY2026 earnings at $2.45 EPS.

Several other equities analysts also recently commented on the company. Wells Fargo & Company cut their target price on Magnolia Oil & Gas from $27.00 to $26.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. Benchmark restated a “hold” rating on shares of Magnolia Oil & Gas in a research report on Thursday, July 18th. Truist Financial raised their target price on Magnolia Oil & Gas from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Wolfe Research initiated coverage on Magnolia Oil & Gas in a report on Thursday, July 18th. They set an “outperform” rating and a $32.00 price target for the company. Finally, Susquehanna raised their price target on Magnolia Oil & Gas from $31.00 to $33.00 and gave the company a “positive” rating in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $28.70.

Magnolia Oil & Gas Stock Performance

MGY opened at $24.71 on Monday. The firm has a market capitalization of $4.92 billion, a P/E ratio of 12.29, a price-to-earnings-growth ratio of 0.90 and a beta of 2.02. The stock’s 50 day moving average price is $25.40 and its two-hundred day moving average price is $24.78. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.21. Magnolia Oil & Gas has a 12-month low of $19.16 and a 12-month high of $27.63.

Magnolia Oil & Gas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Friday, August 9th. Magnolia Oil & Gas’s payout ratio is 25.87%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in Magnolia Oil & Gas by 2.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 83,311 shares of the company’s stock valued at $1,774,000 after purchasing an additional 1,658 shares during the period. Cerity Partners LLC acquired a new stake in Magnolia Oil & Gas in the fourth quarter valued at $267,000. Signaturefd LLC grew its holdings in Magnolia Oil & Gas by 11.9% during the 4th quarter. Signaturefd LLC now owns 9,313 shares of the company’s stock worth $198,000 after acquiring an additional 988 shares during the period. Wedge Capital Management L L P NC grew its holdings in Magnolia Oil & Gas by 3.8% during the 4th quarter. Wedge Capital Management L L P NC now owns 255,438 shares of the company’s stock worth $5,438,000 after acquiring an additional 9,233 shares during the period. Finally, California Public Employees Retirement System grew its holdings in Magnolia Oil & Gas by 3.3% during the 4th quarter. California Public Employees Retirement System now owns 341,172 shares of the company’s stock worth $7,264,000 after acquiring an additional 10,965 shares during the period. 94.73% of the stock is currently owned by institutional investors.

Magnolia Oil & Gas Company Profile

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.