FY2024 EPS Estimate for Magnolia Oil & Gas Lifted by Analyst

Magnolia Oil & Gas Co. (NYSE:MGY) – Investment analysts at Capital One Financial boosted their FY2024 earnings per share estimates for Magnolia Oil & Gas in a research note issued on Wednesday, January 8th. Capital One Financial analyst P. Johnston now anticipates that the company will earn $2.02 per share for the year, up from their previous estimate of $2.01. The consensus estimate for Magnolia Oil & Gas’ current full-year earnings is $2.00 per share. Capital One Financial also issued estimates for Magnolia Oil & Gas’ Q1 2025 earnings at $0.55 EPS and Q2 2025 earnings at $0.58 EPS.

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

A number of other brokerages have also recently issued reports on MGY. Wells Fargo & Company cut Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $26.00 to $22.00 in a report on Tuesday, October 1st. Siebert Williams Shank cut Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a report on Tuesday, October 15th. Piper Sandler cut their price target on Magnolia Oil & Gas from $26.00 to $24.00 and set a “neutral” rating for the company in a report on Tuesday, December 17th. Benchmark reaffirmed a “hold” rating on shares of Magnolia Oil & Gas in a report on Tuesday, October 15th. Finally, Mizuho lifted their price target on Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, December 16th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $27.58.

Magnolia Oil & Gas Stock Performance

Shares of NYSE:MGY opened at $24.90 on Friday. The firm has a market capitalization of $4.89 billion, a PE ratio of 12.33, a P/E/G ratio of 1.29 and a beta of 2.00. The business has a 50-day moving average of $25.64 and a two-hundred day moving average of $25.49. Magnolia Oil & Gas has a 12 month low of $19.16 and a 12 month high of $29.02. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.47 and a quick ratio of 1.47.

Hedge Funds Weigh In On Magnolia Oil & Gas

Institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp lifted its stake in Magnolia Oil & Gas by 4.2% in the 3rd quarter. State Street Corp now owns 10,700,257 shares of the company’s stock valued at $261,300,000 after acquiring an additional 435,326 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Magnolia Oil & Gas by 9.9% during the 2nd quarter. American Century Companies Inc. now owns 9,389,368 shares of the company’s stock worth $237,927,000 after purchasing an additional 847,542 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Magnolia Oil & Gas by 16.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,520,725 shares of the company’s stock worth $114,554,000 after purchasing an additional 627,933 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Magnolia Oil & Gas by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,107,769 shares of the company’s stock worth $100,332,000 after purchasing an additional 116,431 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Magnolia Oil & Gas by 1.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,061,846 shares of the company’s stock worth $74,770,000 after purchasing an additional 50,351 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Magnolia Oil & Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were given a $0.13 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.52 annualized dividend and a dividend yield of 2.09%. Magnolia Oil & Gas’s dividend payout ratio is presently 25.74%.

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.