Capital One Financial Analysts Decrease Earnings Estimates for Magnolia Oil & Gas Co. (NYSE:MGY)

by · The Markets Daily

Magnolia Oil & Gas Co. (NYSE:MGY – Free Report) – Research analysts at Capital One Financial lowered their Q3 2024 earnings per share estimates for shares of Magnolia Oil & Gas in a research report issued to clients and investors on Tuesday, September 17th. Capital One Financial analyst P. Johnston now expects that the company will post earnings per share of $0.51 for the quarter, down from their prior estimate of $0.62. Capital One Financial has a “Overweight” rating and a $28.00 price objective 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 – Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. The firm had revenue of $336.73 million for 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%.

MGY has been the subject of a number of other research reports. Piper Sandler reduced their price objective on shares of Magnolia Oil & Gas from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. Wolfe Research began coverage on Magnolia Oil & Gas in a report on Thursday, July 18th. They issued an “outperform” rating and a $32.00 price target for the company. Mizuho dropped their price objective on Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Benchmark reissued a “hold” rating on shares of Magnolia Oil & Gas in a report on Thursday, July 18th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $28.00.

View Our Latest Analysis on Magnolia Oil & Gas

Magnolia Oil & Gas Stock Up 0.3 %

MGY stock opened at $26.00 on Friday. The stock has a market capitalization of $5.18 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 1.18 and a beta of 2.00. The company has a fifty day moving average of $25.16 and a 200-day moving average of $25.27. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.28 and a current ratio of 1.28. Magnolia Oil & Gas has a one year low of $19.16 and a one year high of $27.63.

Magnolia Oil & Gas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date was Friday, August 9th. Magnolia Oil & Gas’s payout ratio is currently 25.87%.

Institutional Trading of Magnolia Oil & Gas

Large investors have recently modified their holdings of the business. Brown Advisory Inc. purchased a new stake in Magnolia Oil & Gas in the 4th quarter valued at approximately $694,000. Nordea Investment Management AB boosted its stake in shares of Magnolia Oil & Gas by 37.1% during the first quarter. Nordea Investment Management AB now owns 521,702 shares of the company’s stock valued at $13,387,000 after acquiring an additional 141,046 shares during the last quarter. Maryland State Retirement & Pension System purchased a new stake in Magnolia Oil & Gas during the 1st quarter worth about $1,721,000. Texas Permanent School Fund Corp acquired a new position in Magnolia Oil & Gas in the 1st quarter valued at about $4,207,000. Finally, Vanguard Group Inc. lifted its holdings in Magnolia Oil & Gas by 16.6% in the 1st quarter. Vanguard Group Inc. now owns 20,757,369 shares of the company’s stock valued at $538,654,000 after purchasing an additional 2,956,314 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

About Magnolia Oil & Gas

(Get Free Report)

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.

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