Equities analysts predict that Magnolia Oil & Gas Corp (NYSE:MGY) will report $0.29 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Magnolia Oil & Gas’ earnings, with the highest EPS estimate coming in at $0.33 and the lowest estimate coming in at $0.27. The business is scheduled to announce its next earnings report before the market opens on Tuesday, February 26th.
According to Zacks, analysts expect that Magnolia Oil & Gas will report full-year earnings of $1.18 per share for the current financial year, with EPS estimates ranging from $1.15 to $1.24. For the next year, analysts expect that the firm will report earnings of $1.02 per share, with EPS estimates ranging from $0.72 to $1.29. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that follow Magnolia Oil & Gas.
Several research firms recently issued reports on MGY. Citigroup began coverage on shares of Magnolia Oil & Gas in a report on Wednesday, January 9th. They set a “positive” rating and a $16.00 price objective for the company. Oppenheimer began coverage on shares of Magnolia Oil & Gas in a research report on Saturday, February 2nd. They set a “buy” rating and a $15.00 price target for the company. Zacks Investment Research cut shares of Magnolia Oil & Gas from a “hold” rating to a “strong sell” rating in a research report on Thursday. Susquehanna Bancshares began coverage on shares of Magnolia Oil & Gas in a research report on Wednesday, January 9th. They set a “positive” rating and a $16.00 price target for the company. Finally, Mitsubishi UFJ Financial Group reiterated an “overweight” rating on shares of Magnolia Oil & Gas in a research report on Thursday, October 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company. Magnolia Oil & Gas presently has a consensus rating of “Buy” and an average price target of $16.14.
In other news, EVP Timothy D. Yang acquired 20,000 shares of Magnolia Oil & Gas stock in a transaction that occurred on Friday, December 14th. The shares were acquired at an average price of $11.17 per share, with a total value of $223,400.00. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC bought a new position in Magnolia Oil & Gas in the third quarter valued at approximately $302,000,000. Vanguard Group Inc. acquired a new position in Magnolia Oil & Gas during the third quarter worth $113,312,000. Vanguard Group Inc acquired a new position in Magnolia Oil & Gas during the third quarter worth $113,312,000. Capital World Investors acquired a new position in Magnolia Oil & Gas during the third quarter worth $60,040,000. Finally, Victory Capital Management Inc. increased its holdings in Magnolia Oil & Gas by 496.0% during the fourth quarter. Victory Capital Management Inc. now owns 3,570,458 shares of the company’s stock worth $40,025,000 after buying an additional 2,971,428 shares during the last quarter. 47.83% of the stock is currently owned by hedge funds and other institutional investors.
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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