Equities Analysts Set Expectations for MGY Q3 Earnings

Magnolia Oil & Gas Corp (NYSE:MGY) – Zacks Research lowered their Q3 2026 EPS estimates for Magnolia Oil & Gas in a research note issued on Wednesday, October 14th. Zacks Research analyst Team now forecasts that the company will post earnings per share of $0.38 for the quarter, down from their previous estimate of $0.40. Zacks Research currently has a “Strong-Buy” rating on the stock. The consensus estimate for Magnolia Oil & Gas’ current full-year earnings is $2.75 per share.

Other analysts have also recently issued research reports about the company. Wells Fargo & Company decreased their target price on Magnolia Oil & Gas from $36.00 to $30.00 and set an “equal weight” rating on the stock in a report on Wednesday. Siebert Williams Shank upgraded shares of Magnolia Oil & Gas from a “hold” rating to a “buy” rating and upped their price target for the stock from $30.00 to $32.00 in a research report on Wednesday, September 23rd. Scotiabank assumed coverage on shares of Magnolia Oil & Gas in a report on Wednesday. They set an “outperform” rating and a $31.00 price objective on the stock. JPMorgan Chase & Co. upgraded shares of Magnolia Oil & Gas from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $32.00 to $33.00 in a research report on Tuesday, September 8th. Finally, Williams Trading set a $32.00 price objective on shares of Magnolia Oil & Gas in a research report on Wednesday, September 23rd. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Magnolia Oil & Gas currently has an average rating of “Moderate Buy” and a consensus price target of $31.47.

Magnolia Oil & Gas Stock Down 1.0%

NYSE MGY opened at $24.86 on Thursday. The stock’s 50 day simple moving average is $25.86 and its 200 day simple moving average is $27.10. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.58 and a quick ratio of 1.58. Magnolia Oil & Gas has a one year low of $21.07 and a one year high of $32.76. The firm has a market cap of $5.89 billion, a PE ratio of 10.91 and a beta of 0.80.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.06. The firm had revenue of $478.81 million during the quarter, compared to analyst estimates of $458.10 million. Magnolia Oil & Gas had a net margin of 28.77% and a return on equity of 21.04%. The company’s quarterly revenue was up 50.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.41 earnings per share.

Magnolia Oil & Gas Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 10th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Monday, August 10th. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.1650. Magnolia Oil & Gas’s dividend payout ratio is presently 31.58%.

Insider Activity at Magnolia Oil & Gas

In related news, Director David Khani purchased 8,000 shares of the stock in a transaction dated Friday, August 7th. The stock was bought at an average cost of $25.00 per share, with a total value of $200,000.00. Following the purchase, the director directly owned 30,622 shares in the company, valued at $765,550. The trade was a 35.36% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 0.92% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Magnolia Oil & Gas

Several institutional investors and hedge funds have recently made changes to their positions in the company. Fort Washington Investment Advisors Inc. OH increased its position in shares of Magnolia Oil & Gas by 96.5% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 1,711,173 shares of the company’s stock valued at $40,195,000 after buying an additional 840,275 shares in the last quarter. Central Pacific Bank Trust Division lifted its holdings in Magnolia Oil & Gas by 96.4% during the third quarter. Central Pacific Bank Trust Division now owns 11,430 shares of the company’s stock worth $268,000 after acquiring an additional 5,610 shares in the last quarter. Tidal Investments LLC lifted its holdings in Magnolia Oil & Gas by 34.3% during the second quarter. Tidal Investments LLC now owns 93,383 shares of the company’s stock worth $2,389,000 after acquiring an additional 23,833 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in Magnolia Oil & Gas during the second quarter worth about $72,000. Finally, IFP Advisors Inc grew its stake in Magnolia Oil & Gas by 12.2% in the second quarter. IFP Advisors Inc now owns 9,180 shares of the company’s stock valued at $235,000 after acquiring an additional 999 shares during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corporation is an independent oil and natural gas exploration and production company. The company focuses on the acquisition, development, exploration and production of crude oil, natural gas and natural gas liquids.

Magnolia’s operations are concentrated in the Eagle Ford Shale and Austin Chalk formations in South Texas, including its Karnes and Giddings areas. Its production activities are supported by established infrastructure and involve the development of unconventional oil and gas resources.

The company was formed in 2017 through a business combination involving TPG Pace Energy Holdings Corp.