MGY FY2024 EPS Estimate Boosted by Capital One Financial

Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) - Stock analysts at Capital One Financial raised their FY2024 EPS estimates for shares of Magnolia Oil & Gas in a report issued on Wednesday, January 8th. Capital One Financial analyst P. Johnston now forecasts that the company will earn $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 - Get Free Report) last issued 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 business had revenue of $333.14 million during the quarter, compared to analysts' expectations of $331.45 million. Magnolia Oil & Gas had a return on equity of 20.78% and a net margin of 28.88%.

Several other research firms have also recently commented on MGY. Mizuho raised their price target on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a "neutral" rating in a report on Monday, December 16th. Wells Fargo & Company lowered shares of Magnolia Oil & Gas from an "equal weight" rating to an "underweight" rating and decreased their target price for the company from $26.00 to $22.00 in a research note on Tuesday, October 1st. Truist Financial upped their price target on shares of Magnolia Oil & Gas from $31.00 to $33.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Piper Sandler lowered their target price 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. Finally, Benchmark reaffirmed a "hold" rating on shares of Magnolia Oil & Gas in a research note on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $27.58.

Magnolia Oil & Gas Stock Up 2.6 %

NYSE MGY traded up $0.62 during trading on Friday, reaching $24.90. 2,581,761 shares of the company's stock were exchanged, compared to its average volume of 1,945,602. The firm has a market capitalization of $4.89 billion, a PE ratio of 12.33, a P/E/G ratio of 1.29 and a beta of 2.00. Magnolia Oil & Gas has a fifty-two week low of $19.16 and a fifty-two week high of $29.02. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. The company's fifty day simple moving average is $25.65 and its 200-day simple moving average is $25.50.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Harbor Capital Advisors Inc. acquired a new position in shares of Magnolia Oil & Gas during the third quarter worth approximately $25,000. First Horizon Advisors Inc. increased its position in Magnolia Oil & Gas by 64.7% during the third quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company's stock worth $25,000 after acquiring an additional 396 shares during the period. GAMMA Investing LLC raised its stake in Magnolia Oil & Gas by 62.4% during the 3rd quarter. GAMMA Investing LLC now owns 2,609 shares of the company's stock valued at $64,000 after purchasing an additional 1,002 shares during the last quarter. Covestor Ltd boosted its holdings in Magnolia Oil & Gas by 36.8% in the 3rd quarter. Covestor Ltd now owns 2,986 shares of the company's stock valued at $73,000 after purchasing an additional 804 shares during the period. Finally, Truvestments Capital LLC acquired a new stake in Magnolia Oil & Gas in the 3rd quarter worth $90,000. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Magnolia Oil & Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date was Friday, November 8th. Magnolia Oil & Gas's payout ratio is 25.74%.

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.