Q3 2024 EPS Estimates for Magnolia Oil & Gas Co. (NYSE:MGY) Increased by Analyst

Magnolia Oil & Gas Co. (NYSE:MGY) – Stock analysts at Zacks Research increased their Q3 2024 earnings per share estimates for Magnolia Oil & Gas in a research report issued to clients and investors on Monday, April 29th. Zacks Research analyst N. Choudhury now expects that the company will post earnings per share of $0.50 for the quarter, up from their prior forecast of $0.49. The consensus estimate for Magnolia Oil & Gas’ current full-year earnings is $2.09 per share. Zacks Research also issued estimates for Magnolia Oil & Gas’ Q4 2024 earnings at $0.53 EPS.

Several other research firms have also recently weighed in on MGY. Piper Sandler reiterated a “neutral” rating and set a $29.00 price objective on shares of Magnolia Oil & Gas in a report on Friday, April 19th. Mizuho upped their price objective on Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Thursday, March 14th. Susquehanna lifted their target price on shares of Magnolia Oil & Gas from $28.00 to $31.00 and gave the stock a “positive” rating in a report on Monday, April 22nd. Truist Financial upped their price objective on Magnolia Oil & Gas from $32.00 to $33.00 and gave the company a “buy” rating in a report on Friday, February 16th. Finally, Citigroup raised their price target on shares of Magnolia Oil & Gas from $18.00 to $22.00 and gave the stock a “sell” rating in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Magnolia Oil & Gas has a consensus rating of “Hold” and a consensus target price of $27.63.

Magnolia Oil & Gas Trading Up 0.4 %

MGY opened at $26.44 on Tuesday. The firm’s fifty day moving average is $24.80 and its two-hundred day moving average is $22.55. The firm has a market cap of $5.40 billion, a PE ratio of 12.90, a price-to-earnings-growth ratio of 1.61 and a beta of 2.05. Magnolia Oil & Gas has a twelve month low of $18.72 and a twelve month high of $27.33. 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) last posted its quarterly earnings results on Wednesday, February 14th. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.04). Magnolia Oil & Gas had a return on equity of 21.21% and a net margin of 31.65%. The business had revenue of $322.63 million for the quarter, compared to the consensus estimate of $324.95 million.

Magnolia Oil & Gas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were given a dividend of $0.13 per share. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $0.52 annualized dividend and a dividend yield of 1.97%. Magnolia Oil & Gas’s dividend payout ratio is presently 25.37%.

Institutional Investors Weigh In On Magnolia Oil & Gas

Hedge funds have recently added to or reduced their stakes in the business. Albert D Mason Inc. boosted its holdings in shares of Magnolia Oil & Gas by 1.6% during the 4th quarter. Albert D Mason Inc. now owns 31,094 shares of the company’s stock worth $662,000 after buying an additional 490 shares in the last quarter. Signaturefd LLC grew its stake in shares of Magnolia Oil & Gas by 6.7% in the 3rd quarter. Signaturefd LLC now owns 8,325 shares of the company’s stock valued at $191,000 after buying an additional 523 shares during the period. Lindbrook Capital LLC grew its stake in shares of Magnolia Oil & Gas by 61.5% in the 1st quarter. Lindbrook Capital LLC now owns 1,647 shares of the company’s stock valued at $43,000 after buying an additional 627 shares during the period. AMG National Trust Bank increased its position in Magnolia Oil & Gas by 1.3% in the 3rd quarter. AMG National Trust Bank now owns 57,698 shares of the company’s stock valued at $1,322,000 after buying an additional 730 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its stake in Magnolia Oil & Gas by 5.9% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,156 shares of the company’s stock worth $280,000 after buying an additional 730 shares during the period. 94.73% of the stock is currently owned by institutional investors.

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.