FY2028 EPS Forecast for Magnolia Oil & Gas Lifted by Analyst

Magnolia Oil & Gas Corp (NYSE:MGY) – Research analysts at Zacks Research raised their FY2028 EPS estimates for Magnolia Oil & Gas in a note issued to investors on Monday, March 30th. Zacks Research analyst Team now forecasts that the company will post earnings of $2.11 per share for the year, up from their prior forecast of $2.09. Zacks Research currently has a “Strong-Buy” rating on the stock. The consensus estimate for Magnolia Oil & Gas’ current full-year earnings is $2.10 per share.

Several other research firms have also recently issued reports on MGY. Truist Financial initiated coverage on Magnolia Oil & Gas in a report on Tuesday, March 24th. They set a “hold” rating and a $33.00 price objective on the stock. Susquehanna reduced their target price on Magnolia Oil & Gas from $30.00 to $28.00 and set a “positive” rating on the stock in a research report on Monday, January 26th. Mizuho set a $30.00 price target on Magnolia Oil & Gas in a research note on Friday, February 6th. Benchmark restated a “hold” rating on shares of Magnolia Oil & Gas in a report on Wednesday, January 21st. Finally, Bank of America raised shares of Magnolia Oil & Gas from a “neutral” rating to a “buy” rating and upped their price objective for the company from $26.00 to $28.00 in a research note on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $29.27.

Magnolia Oil & Gas Trading Down 0.7%

Shares of MGY opened at $32.14 on Tuesday. Magnolia Oil & Gas has a fifty-two week low of $19.09 and a fifty-two week high of $32.76. The company has a market capitalization of $5.99 billion, a PE ratio of 18.69, a price-to-earnings-growth ratio of 2.27 and a beta of 0.89. The stock has a fifty day moving average of $27.67 and a two-hundred day moving average of $24.57. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.54 and a current ratio of 1.54.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Thursday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.01. Magnolia Oil & Gas had a net margin of 24.79% and a return on equity of 16.67%. The business had revenue of $317.63 million for the quarter, compared to the consensus estimate of $322.18 million. During the same quarter in the prior year, the firm posted $0.44 earnings per share. The company’s quarterly revenue was down 2.8% compared to the same quarter last year.

Magnolia Oil & Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Tuesday, February 10th were paid a dividend of $0.165 per share. The ex-dividend date of this dividend was Tuesday, February 10th. This represents a $0.66 annualized dividend and a dividend yield of 2.1%. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.15. Magnolia Oil & Gas’s dividend payout ratio is presently 38.37%.

Insider Buying and Selling at Magnolia Oil & Gas

In other news, CEO Christopher G. Stavros sold 119,954 shares of the company’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $29.29, for a total transaction of $3,513,452.66. Following the completion of the sale, the chief executive officer directly owned 883,592 shares in the company, valued at $25,880,409.68. This represents a 11.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Timothy D. Yang sold 150,000 shares of the stock in a transaction on Monday, March 9th. The stock was sold at an average price of $29.29, for a total value of $4,393,500.00. Following the completion of the transaction, the executive vice president directly owned 526,661 shares in the company, valued at $15,425,900.69. This trade represents a 22.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 338,954 shares of company stock worth $9,911,733. 0.93% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Magnolia Oil & Gas

Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in shares of Magnolia Oil & Gas by 34.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 858,972 shares of the company’s stock worth $20,504,000 after purchasing an additional 221,920 shares during the period. TD Asset Management Inc raised its holdings in Magnolia Oil & Gas by 55.7% in the third quarter. TD Asset Management Inc now owns 4,478,361 shares of the company’s stock valued at $106,898,000 after buying an additional 1,601,809 shares during the period. Bessemer Group Inc. raised its holdings in Magnolia Oil & Gas by 4.4% in the third quarter. Bessemer Group Inc. now owns 912,526 shares of the company’s stock valued at $21,781,000 after buying an additional 38,502 shares during the period. Heartland Advisors Inc. lifted its position in Magnolia Oil & Gas by 92.1% during the third quarter. Heartland Advisors Inc. now owns 576,290 shares of the company’s stock valued at $13,756,000 after buying an additional 276,290 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its position in Magnolia Oil & Gas by 16,251.3% during the third quarter. Pacer Advisors Inc. now owns 626,745 shares of the company’s stock valued at $14,960,000 after buying an additional 622,912 shares in the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corp (NYSE: MGY) is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties.

The company’s core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs).