Zacks Research Has Bearish Estimate for MGY Q2 Earnings

Magnolia Oil & Gas Corp (NYSE:MGY) – Research analysts at Zacks Research reduced their Q2 2028 earnings estimates for shares of Magnolia Oil & Gas in a research note issued to investors on Monday, June 22nd. Zacks Research analyst Team now expects that the company will post earnings per share of $0.56 for the quarter, down from their prior forecast of $0.57. Zacks Research has a “Hold” rating on the stock. The consensus estimate for Magnolia Oil & Gas’ current full-year earnings is $2.83 per share.

Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results on Wednesday, May 6th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. The business had revenue of $358.51 million for the quarter, compared to the consensus estimate of $349.89 million. Magnolia Oil & Gas had a net margin of 24.40% and a return on equity of 16.28%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.54 EPS.

MGY has been the topic of several other research reports. Mizuho increased their price objective on Magnolia Oil & Gas from $33.00 to $35.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Wells Fargo & Company decreased their target price on Magnolia Oil & Gas from $32.00 to $31.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 13th. Siebert Williams Shank lowered Magnolia Oil & Gas from a “buy” rating to a “hold” rating in a research report on Friday, March 6th. KeyCorp reiterated an “overweight” rating on shares of Magnolia Oil & Gas in a report on Monday. Finally, Citigroup dropped their price target on Magnolia Oil & Gas from $35.00 to $32.00 and set a “neutral” rating on the stock in a research report on Monday, April 13th. Eight analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $31.33.

Magnolia Oil & Gas Stock Performance

Magnolia Oil & Gas stock opened at $25.01 on Thursday. The company has a 50 day moving average price of $28.12 and a 200-day moving average price of $26.98. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.10 and a current ratio of 1.10. Magnolia Oil & Gas has a fifty-two week low of $21.07 and a fifty-two week high of $32.76. The company has a market capitalization of $4.63 billion, a PE ratio of 14.54 and a beta of 0.70.

Institutional Trading of Magnolia Oil & Gas

A number of hedge funds have recently bought and sold shares of the stock. Salomon & Ludwin LLC increased its holdings in shares of Magnolia Oil & Gas by 130.1% in the 4th quarter. Salomon & Ludwin LLC now owns 1,344 shares of the company’s stock valued at $29,000 after acquiring an additional 760 shares during the period. Valued Wealth Advisors LLC bought a new position in shares of Magnolia Oil & Gas in the 1st quarter worth $29,000. EverSource Wealth Advisors LLC lifted its stake in shares of Magnolia Oil & Gas by 165.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock worth $31,000 after purchasing an additional 864 shares during the last quarter. Torren Management LLC purchased a new stake in shares of Magnolia Oil & Gas during the 4th quarter worth $38,000. Finally, Parallel Advisors LLC boosted its position in Magnolia Oil & Gas by 79.8% during the fourth quarter. Parallel Advisors LLC now owns 1,769 shares of the company’s stock valued at $39,000 after purchasing an additional 785 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 12th were paid a $0.165 dividend. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.66 dividend on an annualized basis and a yield of 2.6%. Magnolia Oil & Gas’s payout ratio is 38.37%.

About Magnolia Oil & Gas

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).