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Analysts Set Expectations for Magnolia Oil & Gas Corp’s Q3 2019 Earnings (NYSE:MGY)

By August 24, 2019 No Comments

Magnolia Oil & Gas Corp (NYSE:MGY) – Equities research analysts at Oppenheimer decreased their Q3 2019 earnings per share (EPS) estimates for Magnolia Oil & Gas in a note issued to investors on Thursday, August 22nd. Oppenheimer analyst T. Rezvan now anticipates that the company will post earnings of $0.09 per share for the quarter, down from their previous forecast of $0.18.

Other analysts have also recently issued reports about the company. ValuEngine cut Magnolia Oil & Gas from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. TheStreet raised shares of Magnolia Oil & Gas from a “d” rating to a “c-” rating in a research note on Tuesday, August 6th. Zacks Investment Research raised shares of Magnolia Oil & Gas from a “sell” rating to a “hold” rating in a research note on Wednesday, August 14th. R. F. Lafferty set a $20.00 price target on shares of Magnolia Oil & Gas and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Finally, Wells Fargo & Co began coverage on shares of Magnolia Oil & Gas in a research note on Monday, May 20th. They set an “outperform” rating and a $16.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $16.18.

NYSE MGY opened at $9.91 on Friday. The business has a 50 day simple moving average of $10.57 and a 200 day simple moving average of $11.81. Magnolia Oil & Gas has a 52-week low of $9.27 and a 52-week high of $15.23. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.15 and a quick ratio of 1.15.

Magnolia Oil & Gas (NYSE:MGY) last posted its earnings results on Tuesday, August 6th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). Magnolia Oil & Gas had a return on equity of 5.12% and a net margin of 12.13%. The business had revenue of $242.96 million for the quarter, compared to the consensus estimate of $239.51 million.

In other Magnolia Oil & Gas news, Chairman Stephen I. Chazen purchased 25,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was bought at an average cost of $10.22 per share, with a total value of $255,500.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 7.90% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Systematic Financial Management LP boosted its holdings in shares of Magnolia Oil & Gas by 1.5% in the 2nd quarter. Systematic Financial Management LP now owns 1,084,172 shares of the company’s stock valued at $12,555,000 after buying an additional 15,679 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Magnolia Oil & Gas by 16.3% in the 1st quarter. Victory Capital Management Inc. now owns 4,150,726 shares of the company’s stock valued at $49,809,000 after buying an additional 580,268 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Magnolia Oil & Gas by 5.4% in the 4th quarter. Northern Trust Corp now owns 275,919 shares of the company’s stock valued at $3,092,000 after buying an additional 14,039 shares during the last quarter. Rothschild & Co. Asset Management US Inc. acquired a new stake in shares of Magnolia Oil & Gas in the 1st quarter valued at approximately $9,356,000. Finally, JVL Advisors L.L.C. acquired a new stake in shares of Magnolia Oil & Gas in the 1st quarter valued at approximately $8,021,000. 65.24% of the stock is owned by institutional investors.

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

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