$0.18 Earnings Per Share Expected for Magnolia Oil & Gas Corp (MGY) This Quarter

Wall Street analysts forecast that Magnolia Oil & Gas Corp (NYSE:MGY) will report $0.18 earnings per share (EPS) for the current quarter, Zacks reports. Six analysts have made estimates for Magnolia Oil & Gas’ earnings. The lowest EPS estimate is $0.16 and the highest is $0.21. Magnolia Oil & Gas posted earnings of ($0.04) per share in the same quarter last year, which would suggest a positive year over year growth rate of 550%. The business is scheduled 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 $0.72 per share for the current financial year, with EPS estimates ranging from $0.58 to $0.85. For the next fiscal year, analysts anticipate that the firm will post earnings of $0.91 per share, with EPS estimates ranging from $0.75 to $1.14. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Magnolia Oil & Gas.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Monday, May 6th. The company reported $0.08 EPS for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.06). The company had revenue of $218.67 million during the quarter, compared to the consensus estimate of $221.11 million.

Several brokerages have issued reports on MGY. Oppenheimer began coverage on Magnolia Oil & Gas in a research note on Saturday, February 2nd. They issued a “buy” rating and a $15.00 price target on the stock. JPMorgan Chase & Co. began coverage on Magnolia Oil & Gas in a research note on Tuesday, April 9th. They issued an “overweight” rating and a $16.00 price target on the stock. Zacks Investment Research lowered Magnolia Oil & Gas from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 7th. Credit Suisse Group began coverage on Magnolia Oil & Gas in a research note on Monday, April 1st. They issued an “outperform” rating and a $15.00 price target on the stock. Finally, R. F. Lafferty began coverage on Magnolia Oil & Gas in a research note on Thursday, January 17th. They issued a “buy” rating and a $17.00 price target on the stock. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $16.30.

In other news, Chairman Stephen I. Chazen acquired 25,000 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was purchased at an average price of $12.31 per share, for a total transaction of $307,750.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc bought a new stake in shares of Magnolia Oil & Gas during the first quarter valued at approximately $25,000. PNC Financial Services Group Inc. increased its holdings in shares of Magnolia Oil & Gas by 449.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,792 shares of the company’s stock valued at $98,000 after acquiring an additional 7,192 shares in the last quarter. Starr International Co. Inc. bought a new stake in shares of Magnolia Oil & Gas during the first quarter valued at approximately $120,000. First Mercantile Trust Co. bought a new stake in Magnolia Oil & Gas during the first quarter worth $128,000. Finally, Bank of America Corp DE bought a new stake in Magnolia Oil & Gas during the fourth quarter worth $149,000. Hedge funds and other institutional investors own 63.99% of the company’s stock.

MGY traded down $0.01 during trading on Wednesday, hitting $12.39. The company’s stock had a trading volume of 1,121,787 shares, compared to its average volume of 1,089,843. Magnolia Oil & Gas has a twelve month low of $9.88 and a twelve month high of $15.23. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.10 and a quick ratio of 1.10.

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.

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

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