Wall Street analysts forecast that Magnolia Oil & Gas Corp (NYSE:MGY) will report $245.27 million in sales for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Magnolia Oil & Gas’ earnings. The highest sales estimate is $264.00 million and the lowest is $232.00 million. Magnolia Oil & Gas reported sales of $255.06 million during the same quarter last year, which indicates a negative year-over-year growth rate of 3.8%. The firm is scheduled to report its next earnings results on Monday, February 24th.
According to Zacks, analysts expect that Magnolia Oil & Gas will report full year sales of $951.50 million for the current year, with estimates ranging from $938.00 million to $970.00 million. For the next fiscal year, analysts anticipate that the business will report sales of $1.00 billion, with estimates ranging from $883.00 million to $1.10 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Magnolia Oil & Gas.
Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.04). Magnolia Oil & Gas had a return on equity of 2.81% and a net margin of 7.80%. The business had revenue of $244.80 million during the quarter, compared to the consensus estimate of $247.17 million.
In related news, Director Michael G. Macdougall sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $11.42, for a total value of $571,000.00. Following the completion of the transaction, the director now directly owns 21,961 shares in the company, valued at approximately $250,794.62. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael G. Macdougall sold 150,000 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $11.51, for a total transaction of $1,726,500.00. In the last quarter, insiders have sold 496,826 shares of company stock worth $5,660,847. Corporate insiders own 7.90% of the company’s stock.
Several institutional investors have recently bought and sold shares of MGY. Aperio Group LLC purchased a new position in shares of Magnolia Oil & Gas in the second quarter worth $25,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Magnolia Oil & Gas during the second quarter valued at $71,000. Bank of Montreal Can purchased a new stake in shares of Magnolia Oil & Gas during the second quarter valued at $98,000. First Mercantile Trust Co. boosted its position in shares of Magnolia Oil & Gas by 28.2% during the third quarter. First Mercantile Trust Co. now owns 10,740 shares of the company’s stock valued at $119,000 after buying an additional 2,360 shares during the last quarter. Finally, Bingham Osborn & Scarborough LLC purchased a new stake in shares of Magnolia Oil & Gas during the third quarter valued at $126,000. 68.56% of the stock is owned by institutional investors and hedge funds.
NYSE:MGY traded up $0.36 during mid-day trading on Monday, hitting $11.51. 1,117,605 shares of the company’s stock were exchanged, compared to its average volume of 1,269,807. Magnolia Oil & Gas has a one year low of $9.27 and a one year high of $14.13. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.54 and a quick ratio of 1.54. The business has a fifty day moving average price of $11.00 and a 200 day moving average price of $10.90. The company has a market cap of $2.98 billion, a PE ratio of 22.63 and a beta of 1.28.
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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