Wall Street brokerages expect Magnolia Oil & Gas Corp (NYSE:MGY) to announce sales of $251.71 million for the current quarter, according to Zacks. Seven analysts have provided estimates for Magnolia Oil & Gas’ earnings, with the highest sales estimate coming in at $265.00 million and the lowest estimate coming in at $239.50 million. The business is scheduled to report its next earnings results before the market opens on Tuesday, November 5th.
On average, analysts expect that Magnolia Oil & Gas will report full year sales of $984.99 million for the current fiscal year, with estimates ranging from $937.80 million to $1.06 billion. For the next financial year, analysts expect that the firm will report sales of $1.07 billion, with estimates ranging from $963.50 million to $1.20 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Magnolia Oil & Gas.
Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.02). The company had revenue of $242.96 million during the quarter, compared to analyst estimates of $239.51 million. Magnolia Oil & Gas had a net margin of 12.13% and a return on equity of 5.12%.
A number of brokerages have weighed in on MGY. Barclays began coverage on shares of Magnolia Oil & Gas in a report on Friday, August 30th. They issued an “overweight” rating and a $13.00 price target on the stock. ValuEngine raised shares of Magnolia Oil & Gas from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Citigroup raised their target price on shares of Magnolia Oil & Gas from $11.50 to $12.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. R. F. Lafferty set a $20.00 target price on shares of Magnolia Oil & Gas and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, Piper Jaffray Companies cut their target price on shares of Magnolia Oil & Gas from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Monday, September 30th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $15.50.
In other news, Chairman Stephen I. Chazen purchased 25,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were purchased at an average price of $10.22 per share, with a total value of $255,500.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 7.90% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Aperio Group LLC bought a new stake in shares of Magnolia Oil & Gas during the 2nd quarter worth about $25,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Magnolia Oil & Gas in the 2nd quarter worth approximately $71,000. Bank of Montreal Can bought a new stake in shares of Magnolia Oil & Gas in the 2nd quarter worth approximately $98,000. Virginia Retirement Systems ET AL bought a new stake in shares of Magnolia Oil & Gas in the 2nd quarter worth approximately $195,000. Finally, Fox Run Management L.L.C. bought a new stake in shares of Magnolia Oil & Gas in the 2nd quarter worth approximately $206,000. 67.00% of the stock is owned by institutional investors.
Shares of MGY traded up $0.17 during mid-day trading on Thursday, reaching $10.46. The company had a trading volume of 1,061,238 shares, compared to its average volume of 1,301,276. The firm has a fifty day simple moving average of $10.73 and a 200-day simple moving average of $11.34. Magnolia Oil & Gas has a fifty-two week low of $9.27 and a fifty-two week high of $14.13. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.14.
Magnolia Oil & Gas Company Profile
Magnolia Oil & Gas Corporation engages in the business of acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. The company has oil and natural gas properties located primarily in Karnes County and the Giddings Field in South Texas primarily comprising the Eagle Ford Shale and the Austin Chalk formation.
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