Magnolia Oil & Gas Co. (NYSE:MGY – Get Rating) – Investment analysts at KeyCorp issued their Q3 2022 EPS estimates for Magnolia Oil & Gas in a report issued on Monday, September 19th. KeyCorp analyst T. Rezvan anticipates that the company will earn $1.20 per share for the quarter. KeyCorp currently has a "Overweight" rating and a $28.00 target price on the stock. The consensus estimate for Magnolia Oil & Gas' current full-year earnings is $4.78 per share. KeyCorp also issued estimates for Magnolia Oil & Gas' Q4 2022 earnings at $1.21 EPS, FY2022 earnings at $4.63 EPS, Q1 2023 earnings at $1.17 EPS, Q2 2023 earnings at $1.01 EPS, Q3 2023 earnings at $0.98 EPS, Q4 2023 earnings at $1.02 EPS and FY2023 earnings at $4.17 EPS.
Get Magnolia Oil & Gas alerts:Several other equities analysts have also commented on MGY. Wells Fargo & Company increased their price objective on Magnolia Oil & Gas from $29.00 to $30.00 and gave the company an "equal weight" rating in a research report on Monday, July 11th. MKM Partners reaffirmed a "buy" rating and issued a $26.00 price objective on shares of Magnolia Oil & Gas in a research note on Wednesday, July 20th. Finally, Truist Financial lifted their target price on shares of Magnolia Oil & Gas from $35.00 to $39.00 and gave the stock a "buy" rating in a research report on Tuesday, July 19th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $28.56.
Magnolia Oil & Gas Stock Down 4.3 %
MGY opened at $21.55 on Thursday. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 0.31. The business's fifty day simple moving average is $22.89 and its 200 day simple moving average is $23.77. Magnolia Oil & Gas has a 52 week low of $16.02 and a 52 week high of $30.31. The stock has a market cap of $4.69 billion, a PE ratio of 5.81 and a beta of 2.10.Magnolia Oil & Gas (NYSE:MGY – Get Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $1.10 EPS for the quarter, missing analysts' consensus estimates of $1.18 by ($0.08). Magnolia Oil & Gas had a return on equity of 63.23% and a net margin of 46.42%. The company had revenue of $484.65 million during the quarter, compared to the consensus estimate of $459.13 million.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in MGY. Ten Capital Wealth Advisors LLC purchased a new stake in Magnolia Oil & Gas during the 2nd quarter worth approximately $28,000. NN Investment Partners Holdings N.V. purchased a new stake in Magnolia Oil & Gas in the 1st quarter worth $54,000. Newbridge Financial Services Group Inc. lifted its holdings in Magnolia Oil & Gas by 1,748.0% during the first quarter. Newbridge Financial Services Group Inc. now owns 2,310 shares of the company's stock valued at $55,000 after purchasing an additional 2,185 shares in the last quarter. Assetmark Inc. grew its position in shares of Magnolia Oil & Gas by 311.4% in the second quarter. Assetmark Inc. now owns 2,880 shares of the company's stock valued at $60,000 after purchasing an additional 2,180 shares during the period. Finally, Counterpoint Mutual Funds LLC purchased a new position in Magnolia Oil & Gas in the 1st quarter valued at about $64,000. Hedge funds and other institutional investors own 84.09% of the company's stock.
Magnolia Oil & Gas Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Friday, August 12th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend was Thursday, August 11th. Magnolia Oil & Gas's dividend payout ratio (DPR) is currently 5.39%.
About Magnolia Oil & Gas
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Magnolia Oil & Gas Corporation 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 Field in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.
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