Magnolia Oil & Gas Co. Expected to Earn Q4 2024 Earnings of $0.54 Per Share (NYSE:MGY)

Magnolia Oil & Gas Co. (NYSE:MGY) – Roth Capital reduced their Q4 2024 earnings estimates for Magnolia Oil & Gas in a research report issued to clients and investors on Tuesday, May 7th. Roth Capital analyst L. Mariani now expects that the company will earn $0.54 per share for the quarter, down from their previous forecast of $0.57. The consensus estimate for Magnolia Oil & Gas’ current full-year earnings is $2.11 per share. Roth Capital also issued estimates for Magnolia Oil & Gas’ Q1 2025 earnings at $0.52 EPS, Q2 2025 earnings at $0.49 EPS, Q3 2025 earnings at $0.54 EPS, Q4 2025 earnings at $0.64 EPS and FY2025 earnings at $2.19 EPS.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings results on Wednesday, February 14th. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.04). The company had revenue of $322.63 million for the quarter, compared to analyst estimates of $324.95 million. Magnolia Oil & Gas had a return on equity of 21.21% and a net margin of 31.65%.

Several other equities analysts also recently issued reports on MGY. Citigroup boosted their price target on shares of Magnolia Oil & Gas from $18.00 to $22.00 and gave the company a “sell” rating in a report on Monday, April 15th. Truist Financial upped their target price on shares of Magnolia Oil & Gas from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. The Goldman Sachs Group boosted their price objective on Magnolia Oil & Gas from $24.50 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, March 26th. Bank of America started coverage on Magnolia Oil & Gas in a research report on Tuesday, February 27th. They issued a “buy” rating and a $25.00 target price on the stock. Finally, Mizuho boosted their price target on Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Thursday, March 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $27.63.

Magnolia Oil & Gas Price Performance

Shares of MGY opened at $25.87 on Thursday. Magnolia Oil & Gas has a 12 month low of $18.91 and a 12 month high of $27.33. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.88 and a quick ratio of 1.88. The stock has a fifty day moving average price of $25.26 and a 200 day moving average price of $22.65. The company has a market cap of $5.28 billion, a P/E ratio of 12.62, a PEG ratio of 1.52 and a beta of 2.03.

Hedge Funds Weigh In On Magnolia Oil & Gas

Several institutional investors and hedge funds have recently modified their holdings of the stock. Albert D Mason Inc. lifted its stake in shares of Magnolia Oil & Gas by 1.6% in the 4th quarter. Albert D Mason Inc. now owns 31,094 shares of the company’s stock valued at $662,000 after purchasing an additional 490 shares during the last quarter. Signaturefd LLC grew its position in shares of Magnolia Oil & Gas by 6.7% in the third quarter. Signaturefd LLC now owns 8,325 shares of the company’s stock valued at $191,000 after purchasing an additional 523 shares during the last quarter. Lindbrook Capital LLC increased its stake in shares of Magnolia Oil & Gas by 61.5% in the first quarter. Lindbrook Capital LLC now owns 1,647 shares of the company’s stock worth $43,000 after purchasing an additional 627 shares during the period. AMG National Trust Bank lifted its position in shares of Magnolia Oil & Gas by 1.3% during the 3rd quarter. AMG National Trust Bank now owns 57,698 shares of the company’s stock worth $1,322,000 after purchasing an additional 730 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its position in shares of Magnolia Oil & Gas by 5.9% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,156 shares of the company’s stock worth $280,000 after purchasing an additional 730 shares during the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Magnolia Oil & Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 13th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Friday, May 10th. Magnolia Oil & Gas’s payout ratio is presently 25.37%.

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.