Magnolia Oil & Gas Co. Expected to Earn Q3 2024 Earnings of $0.51 Per Share (NYSE:MGY)

Magnolia Oil & Gas Co. (NYSE:MGY) – Investment analysts at Capital One Financial lowered their Q3 2024 earnings estimates for shares of Magnolia Oil & Gas in a research report issued on Tuesday, September 17th. Capital One Financial analyst P. Johnston now anticipates that the company will post earnings per share of $0.51 for the quarter, down from their previous estimate of $0.62. Capital One Financial has a “Overweight” rating and a $28.00 price target on the stock. The consensus estimate for Magnolia Oil & Gas’ current full-year earnings is $2.08 per share. Capital One Financial also issued estimates for Magnolia Oil & Gas’ Q4 2024 earnings at $0.50 EPS, FY2024 earnings at $2.02 EPS, Q1 2025 earnings at $0.46 EPS, Q2 2025 earnings at $0.49 EPS, Q3 2025 earnings at $0.52 EPS, Q4 2025 earnings at $0.54 EPS, FY2025 earnings at $2.01 EPS and FY2026 earnings at $2.37 EPS.

Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results on Wednesday, July 31st. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.51 by $0.05. Magnolia Oil & Gas had a return on equity of 21.18% and a net margin of 29.44%. The company had revenue of $336.73 million during the quarter, compared to the consensus estimate of $340.72 million.

A number of other analysts have also recently issued reports on MGY. Mizuho cut their target price on shares of Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday. Wells Fargo & Company cut their price objective on shares of Magnolia Oil & Gas from $27.00 to $26.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. Bank of America upped their target price on Magnolia Oil & Gas from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Susquehanna dropped their price target on Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Finally, Piper Sandler decreased their price objective on Magnolia Oil & Gas from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $28.00.

Magnolia Oil & Gas Trading Up 2.8 %

MGY stock opened at $25.91 on Friday. Magnolia Oil & Gas has a one year low of $19.16 and a one year high of $27.63. The stock has a market cap of $5.16 billion, a price-to-earnings ratio of 12.89, a price-to-earnings-growth ratio of 1.18 and a beta of 2.00. The company has a fifty day moving average price of $25.17 and a two-hundred day moving average price of $25.24. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.28 and a quick ratio of 1.28.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Massmutual Trust Co. FSB ADV grew its stake in Magnolia Oil & Gas by 1,753.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,038 shares of the company’s stock worth $26,000 after buying an additional 982 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of Magnolia Oil & Gas during the 2nd quarter worth approximately $26,000. Mather Group LLC. acquired a new stake in shares of Magnolia Oil & Gas during the 1st quarter worth approximately $27,000. GAMMA Investing LLC boosted its position in shares of Magnolia Oil & Gas by 184.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock worth $41,000 after acquiring an additional 1,042 shares in the last quarter. Finally, Lindbrook Capital LLC increased its stake in 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 acquiring an additional 627 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date was Friday, August 9th. Magnolia Oil & Gas’s payout ratio is currently 25.87%.

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.