$0.43 Earnings Per Share Expected for Magnolia Oil & Gas Corp (MGY) This Quarter

Equities analysts predict that Magnolia Oil & Gas Corp (NYSE:MGY) will announce earnings per share of $0.43 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Magnolia Oil & Gas’ earnings, with the highest EPS estimate coming in at $0.67 and the lowest estimate coming in at $0.29. The business is expected to announce its next earnings results before the market opens on Tuesday, November 13th.

According to Zacks, analysts expect that Magnolia Oil & Gas will report full year earnings of $1.35 per share for the current fiscal year, with EPS estimates ranging from $1.27 to $1.40. For the next financial year, analysts anticipate that the company will post earnings of $1.52 per share, with EPS estimates ranging from $1.36 to $1.77. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that that provide coverage for Magnolia Oil & Gas.

Several analysts have recently issued reports on the company. Citigroup assumed coverage on Magnolia Oil & Gas in a research report on Friday. They issued a “neutral” rating and a $13.00 price objective on the stock. Zacks Investment Research downgraded Magnolia Oil & Gas from a “buy” rating to a “hold” rating in a research report on Thursday. Mitsubishi UFJ Financial Group restated an “overweight” rating on shares of Magnolia Oil & Gas in a research report on Thursday, October 25th. Finally, Imperial Capital restated a “buy” rating and issued a $18.00 price objective (up from $16.00) on shares of Magnolia Oil & Gas in a research report on Wednesday, August 22nd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $15.00.

In other Magnolia Oil & Gas news, Director John B. Walker bought 160,000 shares of Magnolia Oil & Gas stock in a transaction that occurred on Wednesday, September 12th. The shares were purchased at an average cost of $13.76 per share, for a total transaction of $2,201,600.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Stephen I. Chazen bought 10,000 shares of Magnolia Oil & Gas stock in a transaction that occurred on Thursday, September 13th. The shares were acquired at an average price of $13.94 per share, for a total transaction of $139,400.00. The disclosure for this purchase can be found here. Insiders have purchased 232,883 shares of company stock worth $2,477,429 over the last quarter.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MGY. Credit Suisse AG purchased a new position in Magnolia Oil & Gas during the third quarter worth about $156,000. Fox Run Management L.L.C. purchased a new position in Magnolia Oil & Gas during the third quarter worth about $164,000. Emerald Advisers Inc. PA purchased a new position in Magnolia Oil & Gas during the third quarter worth about $232,000. Acadian Asset Management LLC purchased a new position in Magnolia Oil & Gas during the third quarter worth about $310,000. Finally, Key Group Holdings Cayman LTD. purchased a new position in Magnolia Oil & Gas during the third quarter worth about $450,000. Hedge funds and other institutional investors own 47.21% of the company’s stock.

Shares of NYSE:MGY traded up $0.38 on Wednesday, hitting $12.56. The company had a trading volume of 1,233,448 shares, compared to its average volume of 1,151,998. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.19 and a current ratio of 1.19. Magnolia Oil & Gas has a 52-week low of $9.66 and a 52-week high of $15.23.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corporation operates as an oil and gas exploration and production company. It has operations in South Texas in the core of the Eagle Ford. The company is headquartered in Houston, Texas.

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Earnings History and Estimates for Magnolia Oil & Gas (NYSE:MGY)

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