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

Magnolia Oil & Gas (NYSE:MGY) will be releasing its earnings data after the market closes on Wednesday, October 30th. Analysts expect Magnolia Oil & Gas to post earnings of $0.49 per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations 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 Price Performance

MGY stock opened at $26.02 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.28 and a current ratio of 1.28. The firm has a 50 day moving average price of $25.22 and a 200-day moving average price of $25.40. Magnolia Oil & Gas has a 52-week low of $19.16 and a 52-week high of $27.63. The firm has a market capitalization of $5.18 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 1.34 and a beta of 1.99.

Magnolia Oil & Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid 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 25.49%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Truist Financial lowered their price target on Magnolia Oil & Gas from $35.00 to $31.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Benchmark reaffirmed a “hold” rating on shares of Magnolia Oil & Gas in a report on Tuesday, October 15th. Wolfe Research assumed coverage on shares of Magnolia Oil & Gas in a report on Thursday, July 18th. They set an “outperform” rating and a $32.00 price target on the stock. Susquehanna decreased their price objective on shares of 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, Wells Fargo & Company cut Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $26.00 to $22.00 in a research report on Tuesday, October 1st. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Magnolia Oil & Gas presently has an average rating of “Hold” and an average price target of $27.50.

Insider Buying and Selling at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, Director Ltd. Enervest sold 7,000,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $25.86, for a total transaction of $181,020,000.00. Following the completion of the sale, the director now directly owns 2,099,403 shares in the company, valued at $54,290,561.58. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.20% of the stock is owned by corporate insiders.

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.