Magnolia Oil & Gas Corp Forecasted to Earn FY2019 Earnings of $1.58 Per Share (MGY)

Magnolia Oil & Gas Corp (NYSE:MGY) – Equities research analysts at SunTrust Banks lifted their FY2019 earnings per share estimates for shares of Magnolia Oil & Gas in a note issued to investors on Tuesday, January 8th. SunTrust Banks analyst N. Dingmann now expects that the company will post earnings of $1.58 per share for the year, up from their previous estimate of $1.55. SunTrust Banks also issued estimates for Magnolia Oil & Gas’ FY2020 earnings at $1.60 EPS.

A number of other equities analysts have also weighed in on the stock. Citigroup started coverage on shares of Magnolia Oil & Gas in a research report on Friday, November 30th. They set a “neutral” rating and a $13.00 price target on the stock. Zacks Investment Research upgraded shares of Magnolia Oil & Gas from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Wednesday, October 17th. Oppenheimer began coverage on shares of Magnolia Oil & Gas in a report on Tuesday. They issued an “outperform” rating and a $15.00 target price on the stock. Susquehanna Bancshares began coverage on shares of Magnolia Oil & Gas in a report on Wednesday. They issued a “positive” rating and a $16.00 target price on the stock. Finally, Johnson Rice began coverage on shares of Magnolia Oil & Gas in a report on Monday. They issued a “buy” rating and a $17.00 target price on the stock. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $16.00.

MGY opened at $12.40 on Thursday. Magnolia Oil & Gas has a twelve month low of $9.69 and a twelve month high of $15.23. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.19 and a quick ratio of 1.19.

Several institutional investors have recently added to or reduced their stakes in MGY. Credit Suisse AG purchased a new stake in shares of Magnolia Oil & Gas in the 3rd quarter valued at approximately $156,000. Fox Run Management L.L.C. purchased a new stake in shares of Magnolia Oil & Gas in the 3rd quarter valued at approximately $164,000. Emerald Advisers Inc. PA purchased a new stake in shares of Magnolia Oil & Gas in the 3rd quarter valued at approximately $232,000. Acadian Asset Management LLC purchased a new stake in Magnolia Oil & Gas during the 3rd quarter worth approximately $310,000. Finally, Key Group Holdings Cayman LTD. purchased a new stake in Magnolia Oil & Gas during the 3rd quarter worth approximately $450,000. 47.21% of the stock is currently owned by institutional investors and hedge funds.

In other news, EVP Timothy D. Yang bought 20,000 shares of the firm’s stock in a transaction on Friday, December 14th. The shares were bought at an average cost of $11.17 per share, for a total transaction of $223,400.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corporation operates as an oil and gas exploration and production company. It has operations in South Texas in the core of the Eagle Ford. The company is headquartered in Houston, Texas.

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

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