Magnolia Oil & Gas (MGY) to Release Quarterly Earnings on Wednesday

Magnolia Oil & Gas (NYSE:MGY) is set to announce its earnings results after the market closes on Wednesday, October 30th. Analysts expect the company to announce earnings of $0.49 per share for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. The business had revenue of $336.73 million during the quarter, compared to analyst estimates of $340.72 million. Magnolia Oil & Gas had a net margin of 29.44% and a return on equity of 21.18%. On average, analysts expect Magnolia Oil & Gas to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Magnolia Oil & Gas Stock Up 0.6 %

Shares of NYSE MGY opened at $26.00 on Monday. The company has a 50 day simple moving average of $25.27 and a 200 day simple moving average of $25.39. The firm has a market cap of $5.27 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 1.33 and a beta of 1.99. Magnolia Oil & Gas has a 1 year low of $19.16 and a 1 year high of $27.63. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.28 and a quick ratio of 1.28.

Wall Street Analyst Weigh In

MGY has been the subject of a number of research reports. Siebert Williams Shank lowered shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a report on Tuesday, October 15th. Wells Fargo & Company lowered shares of Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $26.00 to $22.00 in a report on Tuesday, October 1st. Susquehanna dropped their price objective on shares of Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Bank of America raised their price objective on shares of Magnolia Oil & Gas from $28.00 to $29.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, Mizuho dropped their price objective on shares of Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $27.50.

Insider Activity

In other news, Director Ltd. Enervest sold 7,000,000 shares of Magnolia Oil & Gas stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $25.86, for a total value of $181,020,000.00. Following the completion of the sale, the director now owns 2,099,403 shares in the company, valued at $54,290,561.58. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.20% of the stock is currently owned by company insiders.

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.