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

Magnolia Oil & Gas (NYSE:MGY) is scheduled to be announcing 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 wish to listen to the company’s conference call can do so using this link.

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

NYSE MGY opened at $26.00 on Monday. The company has a fifty day simple moving average of $25.27 and a 200 day simple moving average of $25.39. Magnolia Oil & Gas has a 12-month low of $19.16 and a 12-month high of $27.63. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.21. The company has a market cap of $5.27 billion, a P/E ratio of 12.94, a PEG ratio of 1.33 and a beta of 1.99.

Insider Buying and Selling

In related news, Director Ltd. Enervest sold 7,000,000 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 2,099,403 shares of the company’s stock, valued at approximately $54,290,561.58. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MGY shares. Wells Fargo & Company downgraded shares of Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $26.00 to $22.00 in a research report on Tuesday, October 1st. JPMorgan Chase & Co. cut their price objective on shares of Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Bank of America lifted their price objective on shares of Magnolia Oil & Gas from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Mizuho cut their price objective on shares of Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Finally, Benchmark reaffirmed a “hold” rating on shares of Magnolia Oil & Gas in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $27.50.

About Magnolia Oil & Gas

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.