MGY FY2024 EPS Forecast Raised by Capital One Financial

Magnolia Oil & Gas Co. (NYSE:MGY) – Analysts at Capital One Financial lifted their FY2024 earnings per share (EPS) estimates for Magnolia Oil & Gas in a research report issued on Wednesday, January 8th. Capital One Financial analyst P. Johnston now anticipates that the company will post earnings of $2.02 per share for the year, up from their previous estimate of $2.01. The consensus estimate for Magnolia Oil & Gas’ current full-year earnings is $2.00 per share. Capital One Financial also issued estimates for Magnolia Oil & Gas’ Q1 2025 earnings at $0.55 EPS and Q2 2025 earnings at $0.58 EPS.

Magnolia Oil & Gas (NYSE:MGY) last posted its earnings results on Wednesday, October 30th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.48 by $0.04. The firm had revenue of $333.14 million during the quarter, compared to analysts’ expectations of $331.45 million. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.78%.

Other equities research analysts also recently issued reports about the company. JPMorgan Chase & Co. dropped their target price on Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Truist Financial boosted their price objective on shares of Magnolia Oil & Gas from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Wells Fargo & Company downgraded Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $26.00 to $22.00 in a research report on Tuesday, October 1st. Benchmark reissued a “hold” rating on shares of Magnolia Oil & Gas in a report on Tuesday, October 15th. Finally, Piper Sandler decreased their price objective on Magnolia Oil & Gas from $26.00 to $24.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 17th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $27.58.

Magnolia Oil & Gas Trading Up 1.0 %

NYSE:MGY opened at $24.22 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.47 and a quick ratio of 1.47. The company’s 50-day simple moving average is $25.67 and its 200 day simple moving average is $25.50. Magnolia Oil & Gas has a one year low of $19.16 and a one year high of $29.02. The firm has a market capitalization of $4.76 billion, a P/E ratio of 11.99, a PEG ratio of 1.29 and a beta of 2.00.

Institutional Trading of Magnolia Oil & Gas

Hedge funds have recently bought and sold shares of the stock. State Street Corp boosted its position in shares of Magnolia Oil & Gas by 4.2% during the 3rd quarter. State Street Corp now owns 10,700,257 shares of the company’s stock valued at $261,300,000 after acquiring an additional 435,326 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Magnolia Oil & Gas by 9.9% in the second quarter. American Century Companies Inc. now owns 9,389,368 shares of the company’s stock worth $237,927,000 after buying an additional 847,542 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Magnolia Oil & Gas by 16.1% in the second quarter. Dimensional Fund Advisors LP now owns 4,520,725 shares of the company’s stock valued at $114,554,000 after purchasing an additional 627,933 shares during the period. Geode Capital Management LLC grew its position in shares of Magnolia Oil & Gas by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,107,769 shares of the company’s stock worth $100,332,000 after buying an additional 116,431 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Magnolia Oil & Gas by 1.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,061,846 shares of the company’s stock worth $74,770,000 after buying an additional 50,351 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.15%. The ex-dividend date was Friday, November 8th. Magnolia Oil & Gas’s payout ratio is currently 25.74%.

About Magnolia Oil & Gas

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.