Equities Analysts Offer Predictions for MGY FY2028 Earnings

Magnolia Oil & Gas Corp (NYSE:MGY) – Analysts at Zacks Research upped their FY2028 EPS estimates for shares of Magnolia Oil & Gas in a report released on Monday, March 30th. Zacks Research analyst Team now expects that the company will earn $2.11 per share for the year, up from their previous estimate of $2.09. Zacks Research currently has a “Strong-Buy” rating on the stock. The consensus estimate for Magnolia Oil & Gas’ current full-year earnings is $2.10 per share.

Several other research firms also recently weighed in on MGY. Bank of America raised Magnolia Oil & Gas from a “neutral” rating to a “buy” rating and boosted their target price for the company from $26.00 to $28.00 in a research report on Friday, January 16th. The Goldman Sachs Group lifted their price objective on shares of Magnolia Oil & Gas from $23.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 11th. Citigroup boosted their price objective on shares of Magnolia Oil & Gas from $29.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday. KeyCorp increased their target price on shares of Magnolia Oil & Gas from $29.00 to $30.00 and gave the company an “overweight” rating in a research note on Monday, February 9th. Finally, Wells Fargo & Company set a $25.00 target price on shares of Magnolia Oil & Gas in a report on Monday, February 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $29.82.

Magnolia Oil & Gas Price Performance

NYSE:MGY opened at $30.16 on Tuesday. The firm has a market capitalization of $5.62 billion, a price-to-earnings ratio of 17.54, a PEG ratio of 2.22 and a beta of 0.89. Magnolia Oil & Gas has a 1 year low of $19.09 and a 1 year high of $32.76. The business has a 50 day simple moving average of $27.97 and a 200-day simple moving average of $24.67. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.54 and a quick ratio of 1.54.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings results on Thursday, February 5th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.36 by $0.01. Magnolia Oil & Gas had a return on equity of 16.67% and a net margin of 24.79%.The company had revenue of $317.63 million during the quarter, compared to analyst estimates of $322.18 million. During the same quarter last year, the business posted $0.44 earnings per share. The firm’s revenue was down 2.8% on a year-over-year basis.

Magnolia Oil & Gas Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Tuesday, February 10th were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Tuesday, February 10th. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.15. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 38.37%.

Insider Buying and Selling

In other news, CFO Brian Corales sold 33,000 shares of Magnolia Oil & Gas stock in a transaction on Monday, March 9th. The stock was sold at an average price of $29.12, for a total transaction of $960,960.00. Following the completion of the sale, the chief financial officer directly owned 184,178 shares in the company, valued at approximately $5,363,263.36. This trade represents a 15.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dan F. Smith sold 18,000 shares of the business’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $29.01, for a total transaction of $522,180.00. Following the sale, the director directly owned 119,204 shares of the company’s stock, valued at $3,458,108.04. This represents a 13.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 338,954 shares of company stock worth $9,911,733 over the last ninety days. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Magnolia Oil & Gas

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MGY. TD Asset Management Inc boosted its position in Magnolia Oil & Gas by 55.7% in the 3rd quarter. TD Asset Management Inc now owns 4,478,361 shares of the company’s stock valued at $106,898,000 after buying an additional 1,601,809 shares during the period. Epoch Investment Partners Inc. increased its position in shares of Magnolia Oil & Gas by 58.7% during the third quarter. Epoch Investment Partners Inc. now owns 4,138,626 shares of the company’s stock worth $98,789,000 after acquiring an additional 1,531,061 shares during the period. HITE Hedge Asset Management LLC raised its stake in shares of Magnolia Oil & Gas by 661.5% during the fourth quarter. HITE Hedge Asset Management LLC now owns 1,454,388 shares of the company’s stock valued at $31,837,000 after acquiring an additional 1,263,407 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Magnolia Oil & Gas by 192.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,401,279 shares of the company’s stock valued at $33,449,000 after acquiring an additional 921,970 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in shares of Magnolia Oil & Gas by 16,251.3% in the third quarter. Pacer Advisors Inc. now owns 626,745 shares of the company’s stock valued at $14,960,000 after purchasing an additional 622,912 shares during the period. Institutional investors own 94.73% of the company’s stock.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corp (NYSE: MGY) is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties.

The company’s core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs).