Zacks Research Issues Negative Forecast for MGY Earnings

Magnolia Oil & Gas Corp (NYSE:MGY) – Analysts at Zacks Research decreased their Q2 2028 earnings estimates for shares of Magnolia Oil & Gas in a research note issued on Monday, June 22nd. Zacks Research analyst Team now forecasts that the company will post earnings of $0.56 per share for the quarter, down from their previous forecast of $0.57. Zacks Research currently 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 posted its earnings results on Wednesday, May 6th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. The company had revenue of $358.51 million during the quarter, compared to analysts’ expectations of $349.89 million. Magnolia Oil & Gas had a net margin of 24.40% and a return on equity of 16.28%. Magnolia Oil & Gas’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.54 earnings per share.

Other analysts have also issued research reports about the company. Truist Financial increased their price objective on Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “hold” rating in a report on Monday, April 27th. Siebert Williams Shank downgraded Magnolia Oil & Gas from a “buy” rating to a “hold” rating in a research note on Friday, March 6th. UBS Group upped their target price on Magnolia Oil & Gas from $29.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. Roth Mkm upgraded Magnolia Oil & Gas from a “neutral” rating to a “buy” rating and set a $31.00 price target for the company in a research note on Monday, June 22nd. Finally, Weiss Ratings cut Magnolia Oil & Gas from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 21st. Eight equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $31.33.

Magnolia Oil & Gas Price Performance

NYSE MGY opened at $25.01 on Thursday. The firm’s fifty day simple moving average is $28.12 and its two-hundred day simple moving average is $26.98. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.19. Magnolia Oil & Gas has a 12-month low of $21.07 and a 12-month high of $32.76. The firm has a market capitalization of $4.63 billion, a P/E ratio of 14.54 and a beta of 0.70.

Magnolia Oil & Gas Announces Dividend

The company also recently announced 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 was Tuesday, May 12th. This represents a $0.66 dividend on an annualized basis and a yield of 2.6%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 38.37%.

Institutional Trading of Magnolia Oil & Gas

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp grew its stake in Magnolia Oil & Gas by 1.4% during the 4th quarter. State Street Corp now owns 8,800,807 shares of the company’s stock valued at $192,650,000 after purchasing an additional 125,707 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Magnolia Oil & Gas by 5.9% in the first quarter. Dimensional Fund Advisors LP now owns 7,028,781 shares of the company’s stock worth $221,910,000 after purchasing an additional 394,419 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Magnolia Oil & Gas by 2.8% in the first quarter. Janus Henderson Group PLC now owns 6,279,636 shares of the company’s stock worth $198,248,000 after purchasing an additional 170,174 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Magnolia Oil & Gas by 790.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 6,263,808 shares of the company’s stock worth $197,748,000 after purchasing an additional 5,560,619 shares during the last quarter. Finally, TD Asset Management Inc lifted its holdings in shares of Magnolia Oil & Gas by 26.6% during the fourth quarter. TD Asset Management Inc now owns 5,671,819 shares of the company’s stock worth $124,156,000 after purchasing an additional 1,193,458 shares during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Company Profile

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).