Q3 EPS Estimates for Magnolia Oil & Gas Lifted by KeyCorp

Key Points

• KeyCorp raised its Q3 2026 EPS estimate for Magnolia Oil & Gas to $0.94 from $0.86, while keeping an Overweight rating and a $38 price target.
• Magnolia Oil & Gas recently beat expectations in its latest quarter, reporting $0.54 EPS versus the $0.51 consensus and revenue of $358.51 million, up 2.3% year over year.
• Analyst sentiment remains mixed: the stock currently has an average Hold rating with a consensus price target of $31.42, even as institutional ownership remains high at 94.73%.

Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) - Stock analysts at KeyCorp increased their Q3 2026 earnings per share (EPS) estimates for Magnolia Oil & Gas in a note issued to investors on Wednesday, June 3rd. KeyCorp analyst T. Rezvan now forecasts that the company will post earnings of $0.94 per share for the quarter, up from their prior forecast of $0.86. KeyCorp has a "Overweight" rating and a $38.00 price target on the stock. The consensus estimate for Magnolia Oil & Gas' current full-year earnings is $2.82 per share. KeyCorp also issued estimates for Magnolia Oil & Gas' Q4 2026 earnings at $0.83 EPS and FY2026 earnings at $3.30 EPS.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.03. Magnolia Oil & Gas had a net margin of 24.40% and a return on equity of 16.28%. The firm had revenue of $358.51 million for the quarter, compared to the consensus estimate of $349.89 million. During the same period in the prior year, the company posted $0.54 earnings per share. The business's revenue for the quarter was up 2.3% on a year-over-year basis.

Other research analysts have also recently issued research reports about the stock. Zacks Research cut shares of Magnolia Oil & Gas from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 19th. Wells Fargo & Company reduced their price target on Magnolia Oil & Gas from $32.00 to $31.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 13th. Truist Financial upped their target price on Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a "hold" rating in a research report on Monday, April 27th. Weiss Ratings lowered shares of Magnolia Oil & Gas from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, May 21st. Finally, Piper Sandler increased their target price on Magnolia Oil & Gas from $28.00 to $31.00 and gave the stock a "neutral" rating in a report on Thursday, March 12th. Seven analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, Magnolia Oil & Gas currently has an average rating of "Hold" and an average target price of $31.42.

Magnolia Oil & Gas Trading Up 0.0%

Shares of MGY opened at $27.52 on Monday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.10 and a current ratio of 1.10. Magnolia Oil & Gas has a 52-week low of $21.07 and a 52-week high of $32.76. The firm has a market cap of $5.09 billion, a price-to-earnings ratio of 16.00 and a beta of 0.71. The business's fifty day moving average is $29.32 and its 200-day moving average is $26.50.

Magnolia Oil & Gas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 12th were given a dividend of $0.165 per share. The ex-dividend date was Tuesday, May 12th. This represents a $0.66 annualized dividend and a yield of 2.4%. Magnolia Oil & Gas's dividend payout ratio is presently 38.37%.

Insider Activity

In related news, Director Edward P. Djerejian sold 18,000 shares of Magnolia Oil & Gas stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $28.98, for a total value of $521,640.00. Following the sale, the director owned 110,425 shares of the company's stock, valued at approximately $3,200,116.50. The trade was a 14.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.92% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Magnolia Oil & Gas

Hedge funds and other institutional investors have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership raised its stake in shares of Magnolia Oil & Gas by 790.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 6,263,808 shares of the company's stock valued at $197,748,000 after purchasing an additional 5,560,619 shares during the period. TD Asset Management Inc raised its stake in Magnolia Oil & Gas by 55.7% in the third quarter. TD Asset Management Inc now owns 4,478,361 shares of the company's stock valued at $106,898,000 after purchasing an additional 1,601,809 shares in the last quarter. Epoch Investment Partners Inc. lifted its holdings in shares of Magnolia Oil & Gas by 58.7% during the 3rd quarter. Epoch Investment Partners Inc. now owns 4,138,626 shares of the company's stock worth $98,789,000 after acquiring an additional 1,531,061 shares during the last quarter. HITE Hedge Asset Management LLC lifted its stake in Magnolia Oil & Gas by 661.5% during the fourth quarter. HITE Hedge Asset Management LLC now owns 1,454,388 shares of the company's stock worth $31,837,000 after purchasing an additional 1,263,407 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in Magnolia Oil & Gas by 20.5% in the 1st quarter. Bank of America Corp DE now owns 3,877,361 shares of the company's stock worth $122,408,000 after buying an additional 659,012 shares during the last quarter. Institutional investors own 94.73% of the company's stock.

About Magnolia Oil & Gas

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).

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