Roth Capital Cuts Earnings Estimates for Magnolia Oil & Gas

Magnolia Oil & Gas Co. (NYSE:MGY) – Stock analysts at Roth Capital dropped their FY2024 earnings per share (EPS) estimates for Magnolia Oil & Gas in a research note issued on Thursday, October 31st. Roth Capital analyst L. Mariani now anticipates that the company will post earnings per share of $1.90 for the year, down from their prior forecast of $2.00. The consensus estimate for Magnolia Oil & Gas’ current full-year earnings is $1.99 per share. Roth Capital also issued estimates for Magnolia Oil & Gas’ Q4 2024 earnings at $0.41 EPS, Q1 2025 earnings at $0.40 EPS, Q2 2025 earnings at $0.37 EPS, Q3 2025 earnings at $0.44 EPS and Q4 2025 earnings at $0.51 EPS.

Magnolia Oil & Gas (NYSE:MGY) last released its earnings results on Wednesday, October 30th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. Magnolia Oil & Gas had a return on equity of 20.78% and a net margin of 28.88%. The business had revenue of $333.14 million for the quarter, compared to analyst estimates of $331.45 million.

MGY has been the subject of several other reports. Wells Fargo & Company cut shares of Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $26.00 to $22.00 in a report on Tuesday, October 1st. JPMorgan Chase & Co. reduced their price target on Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Mizuho decreased their price target on Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Benchmark reiterated a “hold” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, October 15th. Finally, Truist Financial boosted their target price on shares of Magnolia Oil & Gas from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $27.67.

Magnolia Oil & Gas Stock Down 1.1 %

Shares of Magnolia Oil & Gas stock opened at $25.00 on Monday. Magnolia Oil & Gas has a one year low of $19.16 and a one year high of $27.63. The company has a market cap of $4.98 billion, a P/E ratio of 12.38, a PEG ratio of 1.29 and a beta of 1.99. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.28 and a current ratio of 1.47. The firm has a fifty day moving average of $25.31 and a two-hundred day moving average of $25.35.

Institutional Investors Weigh In On Magnolia Oil & Gas

Institutional investors have recently bought and sold shares of the business. Harbor Capital Advisors Inc. purchased a new stake in Magnolia Oil & Gas during the 3rd quarter worth $25,000. Massmutual Trust Co. FSB ADV raised its holdings in shares of Magnolia Oil & Gas by 1,753.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,038 shares of the company’s stock valued at $26,000 after buying an additional 982 shares during the period. Opal Wealth Advisors LLC acquired a new position in Magnolia Oil & Gas during the 2nd quarter worth approximately $26,000. GAMMA Investing LLC boosted its holdings in Magnolia Oil & Gas by 184.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock worth $41,000 after acquiring an additional 1,042 shares during the period. Finally, Fidelis Capital Partners LLC acquired a new stake in Magnolia Oil & Gas in the first quarter valued at approximately $50,000. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Magnolia Oil & Gas

In related news, Director Ltd. Enervest sold 7,000,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $25.86, for a total value of $181,020,000.00. Following the sale, the director now directly owns 2,099,403 shares of the company’s stock, valued at approximately $54,290,561.58. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is owned by company insiders.

Magnolia Oil & Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.08%. The ex-dividend date is Friday, November 8th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 25.74%.

About Magnolia Oil & Gas

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.