Analysts Anticipate Magnolia Oil & Gas Corp (MGY) to Post $0.18 Earnings Per Share

Brokerages predict that Magnolia Oil & Gas Corp (NYSE:MGY) will report earnings per share of $0.18 for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Magnolia Oil & Gas’ earnings. The highest EPS estimate is $0.21 and the lowest is $0.16. Magnolia Oil & Gas reported earnings per share of ($0.04) in the same quarter last year, which would suggest a positive year-over-year growth rate of 550%. The firm is expected to announce its next quarterly earnings results on Tuesday, August 13th.

According to Zacks, analysts expect that Magnolia Oil & Gas will report full-year earnings of $0.70 per share for the current financial year, with EPS estimates ranging from $0.58 to $0.85. For the next year, analysts forecast that the business will report earnings of $0.87 per share, with EPS estimates ranging from $0.64 to $1.14. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Magnolia Oil & Gas.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings results on Monday, May 6th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.06). The business had revenue of $218.67 million during the quarter, compared to analyst estimates of $221.11 million.

Several equities analysts have commented on the stock. Wells Fargo & Co assumed coverage on shares of Magnolia Oil & Gas in a research report on Monday, May 20th. They set an “outperform” rating and a $16.00 target price on the stock. Zacks Investment Research raised shares of Magnolia Oil & Gas from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Northland Securities reissued a “buy” rating and set a $19.00 target price on shares of Magnolia Oil & Gas in a research report on Tuesday, February 26th. Oppenheimer set a $15.00 target price on shares of Magnolia Oil & Gas and gave the stock a “buy” rating in a research report on Tuesday, February 26th. Finally, Credit Suisse Group assumed coverage on shares of Magnolia Oil & Gas in a research report on Monday, April 1st. They set an “outperform” rating and a $15.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $16.27.

Several large investors have recently bought and sold shares of MGY. Tibra Equities Europe Ltd bought a new stake in Magnolia Oil & Gas during the 1st quarter valued at $2,745,000. Northern Trust Corp raised its holdings in Magnolia Oil & Gas by 5.4% during the 4th quarter. Northern Trust Corp now owns 275,919 shares of the company’s stock valued at $3,092,000 after acquiring an additional 14,039 shares during the period. Victory Capital Management Inc. raised its holdings in Magnolia Oil & Gas by 16.3% during the 1st quarter. Victory Capital Management Inc. now owns 4,150,726 shares of the company’s stock valued at $49,809,000 after acquiring an additional 580,268 shares during the period. Epoch Investment Partners Inc. bought a new stake in Magnolia Oil & Gas during the 4th quarter valued at $7,507,000. Finally, BlackRock Inc. bought a new stake in Magnolia Oil & Gas during the 3rd quarter valued at $4,383,000. 67.90% of the stock is currently owned by institutional investors.

MGY stock traded up $0.80 during mid-day trading on Friday, reaching $11.67. 4,574,412 shares of the company traded hands, compared to its average volume of 1,103,945. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.14. Magnolia Oil & Gas has a fifty-two week low of $9.88 and a fifty-two week 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.

Read More: Why does the United States have a lingering trade deficit?

Get a free copy of the Zacks research report on Magnolia Oil & Gas (MGY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Magnolia Oil & Gas (NYSE:MGY)

Receive News & Ratings for Magnolia Oil & Gas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Magnolia Oil & Gas and related companies with MarketBeat.com's FREE daily email newsletter.