Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) - Equities researchers at Roth Capital raised their Q2 2024 EPS estimates for shares of Magnolia Oil & Gas in a research note issued on Wednesday, May 8th. Roth Capital analyst L. Mariani now forecasts that the company will post earnings per share of $0.51 for the quarter, up from their prior estimate of $0.49. The consensus estimate for Magnolia Oil & Gas' current full-year earnings is $2.11 per share. Roth Capital also issued estimates for Magnolia Oil & Gas' Q3 2024 earnings at $0.54 EPS, FY2024 earnings at $1.93 EPS, Q4 2025 earnings at $0.63 EPS and FY2025 earnings at $2.18 EPS.
MGY has been the topic of several other reports. Truist Financial raised their price target on shares of Magnolia Oil & Gas from $32.00 to $33.00 and gave the stock a "buy" rating in a research report on Friday, February 16th. The Goldman Sachs Group boosted their price target on Magnolia Oil & Gas from $24.50 to $28.00 and gave the company a "buy" rating in a research note on Tuesday, March 26th. Susquehanna raised their price objective on Magnolia Oil & Gas from $28.00 to $31.00 and gave the stock a "positive" rating in a research report on Monday, April 22nd. Benchmark restated a "hold" rating on shares of Magnolia Oil & Gas in a research report on Tuesday, April 23rd. Finally, Piper Sandler reiterated a "neutral" rating and set a $29.00 price target on shares of Magnolia Oil & Gas in a research note on Friday, April 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $27.63.
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Magnolia Oil & Gas Stock Performance
Shares of MGY traded down $0.63 during mid-day trading on Friday, hitting $25.87. The company's stock had a trading volume of 2,354,182 shares, compared to its average volume of 3,119,224. Magnolia Oil & Gas has a one year low of $18.92 and a one year high of $27.33. The stock's 50-day moving average is $25.34 and its two-hundred day moving average is $22.67. The firm has a market capitalization of $5.28 billion, a PE ratio of 13.18, a price-to-earnings-growth ratio of 1.52 and a beta of 2.03. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.88 and a current ratio of 1.88.
Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.04). The business had revenue of $322.63 million for the quarter, compared to analyst estimates of $324.95 million. Magnolia Oil & Gas had a return on equity of 21.21% and a net margin of 31.65%.
Magnolia Oil & Gas Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 13th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, May 10th. Magnolia Oil & Gas's payout ratio is 25.87%.
Institutional Trading of Magnolia Oil & Gas
Large investors have recently added to or reduced their stakes in the company. Mather Group LLC. bought a new stake in Magnolia Oil & Gas during the 1st quarter worth approximately $27,000. Private Wealth Management Group LLC acquired a new position in Magnolia Oil & Gas in the fourth quarter worth $33,000. VisionPoint Advisory Group LLC grew its holdings in shares of Magnolia Oil & Gas by 112.3% during the third quarter. VisionPoint Advisory Group LLC now owns 1,537 shares of the company's stock worth $35,000 after purchasing an additional 813 shares during the last quarter. Lindbrook Capital LLC increased its stake in shares of Magnolia Oil & Gas by 61.5% in the first quarter. Lindbrook Capital LLC now owns 1,647 shares of the company's stock valued at $43,000 after buying an additional 627 shares in the last quarter. Finally, Fidelis Capital Partners LLC bought a new position in shares of Magnolia Oil & Gas in the first quarter valued at about $50,000. 94.73% of the stock is owned by institutional investors.
About Magnolia Oil & Gas
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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.
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