Q2 2024 EPS Estimates for Magnolia Oil & Gas Co. (NYSE:MGY) Increased by Roth Capital

Magnolia Oil & Gas Co. (NYSE:MGY) – Equities researchers at Roth Capital raised their Q2 2024 earnings per share estimates for Magnolia Oil & Gas in a note issued to investors on Wednesday, May 8th. Roth Capital analyst L. Mariani now anticipates that the company will earn $0.51 per share for the quarter, up from their previous forecast of $0.49. The consensus estimate for Magnolia Oil & Gas’ current full-year earnings is $2.11 per share. Roth Capital also issued estimates for Magnolia Oil & Gas’ Q3 2024 earnings at $0.54 EPS, FY2024 earnings at $1.93 EPS, Q4 2025 earnings at $0.63 EPS and FY2025 earnings at $2.18 EPS.

MGY has been the subject of several other reports. The Goldman Sachs Group upped their target price on Magnolia Oil & Gas from $24.50 to $28.00 and gave the company a “buy” rating in a research note on Tuesday, March 26th. Wells Fargo & Company upped their target price on Magnolia Oil & Gas from $23.00 to $27.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. Truist Financial upped their target price on Magnolia Oil & Gas from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Benchmark reiterated a “hold” rating on shares of Magnolia Oil & Gas in a research note on Tuesday, April 23rd. Finally, Mizuho upped their target price on Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Thursday, March 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $27.63.

Magnolia Oil & Gas Stock Performance

Magnolia Oil & Gas stock opened at $25.87 on Friday. The firm has a market capitalization of $5.28 billion, a P/E ratio of 12.62, a PEG ratio of 1.55 and a beta of 2.03. The stock has a fifty day moving average price of $25.40 and a 200 day moving average price of $22.70. Magnolia Oil & Gas has a 52 week low of $18.92 and a 52 week high of $27.33. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.21.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings data on Wednesday, February 14th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.04). Magnolia Oil & Gas had a net margin of 31.65% and a return on equity of 21.21%. The company had revenue of $322.63 million during the quarter, compared to analysts’ expectations of $324.95 million.

Magnolia Oil & Gas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 13th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Friday, May 10th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.01%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 25.37%.

Institutional Investors Weigh In On Magnolia Oil & Gas

A number of large investors have recently modified their holdings of MGY. Mather Group LLC. acquired a new stake in shares of Magnolia Oil & Gas in the first quarter valued at about $27,000. Private Wealth Management Group LLC acquired a new stake in Magnolia Oil & Gas during the 4th quarter valued at approximately $33,000. VisionPoint Advisory Group LLC grew its stake in Magnolia Oil & Gas by 112.3% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,537 shares of the company’s stock valued at $35,000 after purchasing an additional 813 shares in the last quarter. Lindbrook Capital LLC grew its stake in Magnolia Oil & Gas by 61.5% during the 1st quarter. Lindbrook Capital LLC now owns 1,647 shares of the company’s stock valued at $43,000 after purchasing an additional 627 shares in the last quarter. Finally, Fidelis Capital Partners LLC acquired a new stake in Magnolia Oil & Gas during the 1st quarter valued at approximately $50,000. Institutional investors and hedge funds own 94.73% of the company’s stock.

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.