Zacks Research Research Analysts Lower Earnings Estimates for Magnolia Oil & Gas Co. (NYSE:MGY)

Magnolia Oil & Gas Co. (NYSE:MGY) – Equities researchers at Zacks Research cut their Q3 2024 earnings per share estimates for shares of Magnolia Oil & Gas in a report issued on Wednesday, October 2nd. Zacks Research analyst N. Choudhury now expects that the company will earn $0.46 per share for the quarter, down from their prior estimate of $0.49. The consensus estimate for Magnolia Oil & Gas’ current full-year earnings is $1.98 per share. Zacks Research also issued estimates for Magnolia Oil & Gas’ Q4 2024 earnings at $0.46 EPS, Q1 2025 earnings at $0.47 EPS, Q2 2025 earnings at $0.47 EPS, Q3 2025 earnings at $0.49 EPS, Q4 2025 earnings at $0.49 EPS, FY2025 earnings at $1.92 EPS, Q1 2026 earnings at $0.47 EPS, Q2 2026 earnings at $0.51 EPS, Q3 2026 earnings at $0.58 EPS and FY2026 earnings at $2.16 EPS.

A number of other equities analysts have also weighed in on MGY. Capital One Financial assumed coverage on Magnolia Oil & Gas in a research note on Tuesday, June 11th. They issued an “overweight” rating and a $28.00 target price on the stock. JPMorgan Chase & Co. decreased their price objective on Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Piper Sandler decreased their price objective on Magnolia Oil & Gas from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. Wells Fargo & Company cut Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $26.00 to $22.00 in a report on Tuesday. Finally, Bank of America raised their price objective on Magnolia Oil & Gas from $28.00 to $29.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $27.27.

Magnolia Oil & Gas Price Performance

Shares of NYSE MGY opened at $26.84 on Friday. The firm has a market capitalization of $5.34 billion, a P/E ratio of 13.35, a P/E/G ratio of 1.29 and a beta of 1.99. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.21. The stock’s 50-day simple moving average is $24.88 and its two-hundred day simple moving average is $25.35. Magnolia Oil & Gas has a twelve month low of $19.16 and a twelve month high of $27.63.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. The business had revenue of $336.73 million for the quarter, compared to analysts’ expectations of $340.72 million. Magnolia Oil & Gas had a return on equity of 21.18% and a net margin of 29.44%.

Magnolia Oil & Gas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a $0.13 dividend. The ex-dividend date was Friday, August 9th. This represents a $0.52 dividend on an annualized basis and a yield of 1.94%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 25.87%.

Insiders Place Their Bets

In other Magnolia Oil & Gas news, Director Ltd. Enervest sold 7,000,000 shares of Magnolia Oil & Gas stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $25.86, for a total value of $181,020,000.00. Following the transaction, the director now directly owns 2,099,403 shares of the company’s stock, valued at $54,290,561.58. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Magnolia Oil & Gas

A number of large investors have recently made changes to their positions in MGY. Vanguard Group Inc. grew its position in shares of Magnolia Oil & Gas by 16.6% in the 1st quarter. Vanguard Group Inc. now owns 20,757,369 shares of the company’s stock worth $538,654,000 after buying an additional 2,956,314 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Magnolia Oil & Gas by 2,799.2% in the 1st quarter. Principal Financial Group Inc. now owns 1,881,039 shares of the company’s stock worth $48,813,000 after buying an additional 1,816,158 shares during the last quarter. Ranger Investment Management L.P. bought a new stake in shares of Magnolia Oil & Gas in the 4th quarter worth approximately $25,226,000. Jacobs Levy Equity Management Inc. bought a new stake in shares of Magnolia Oil & Gas in the 1st quarter worth approximately $30,161,000. Finally, American Century Companies Inc. grew its position in shares of Magnolia Oil & Gas by 9.9% in the 2nd quarter. American Century Companies Inc. now owns 9,389,368 shares of the company’s stock worth $237,927,000 after buying an additional 847,542 shares during the last quarter. 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.