Magnolia Oil & Gas (NYSE:MGY) Announces Quarterly Earnings Results, Beats Estimates By $0.05 EPS


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Magnolia Oil & Gas (NYSE:MGY) posted its earnings results on Monday. The company reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.05, MarketWatch Earnings reports. Magnolia Oil & Gas had a negative net margin of 199.68% and a negative return on equity of 1.06%.

Shares of MGY stock traded up $0.92 on Tuesday, hitting $11.21. 66,789 shares of the company’s stock traded hands, compared to its average volume of 2,245,375. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of -1.39 and a beta of 2.72. The company’s fifty day simple moving average is $9.16 and its 200 day simple moving average is $6.83. Magnolia Oil & Gas has a one year low of $3.23 and a one year high of $10.67. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.73 and a current ratio of 1.73.

Several research analysts have recently weighed in on MGY shares. Credit Suisse Group decreased their price target on shares of Magnolia Oil & Gas from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Monday, November 9th. KeyCorp upped their target price on Magnolia Oil & Gas from $9.00 to $10.00 and gave the stock an “overweight” rating in a research note on Thursday, January 21st. MKM Partners downgraded Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and lifted their price target for the company from $6.00 to $7.00 in a research report on Monday, November 30th. Northland Securities upgraded shares of Magnolia Oil & Gas from a “market perform” rating to an “outperform” rating in a research report on Friday, November 6th. Finally, Piper Sandler raised their target price on shares of Magnolia Oil & Gas from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Wednesday, November 18th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $7.48.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corporation engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. The company's properties are located primarily in Karnes County and the Giddings Field in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.

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

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