Magnolia Oil & Gas Co. (NYSE:MGY – Free Report) – Investment analysts at KeyCorp increased their Q3 2023 EPS estimates for shares of Magnolia Oil & Gas in a research note issued on Wednesday, August 9th. KeyCorp analyst T. Rezvan now anticipates that the company will post earnings per share of $0.50 for the quarter, up from their previous forecast of $0.49. The consensus estimate for Magnolia Oil & Gas’ current full-year earnings is $2.10 per share. KeyCorp also issued estimates for Magnolia Oil & Gas’ Q4 2023 earnings at $0.52 EPS, FY2023 earnings at $2.04 EPS, Q1 2024 earnings at $0.56 EPS, Q4 2024 earnings at $0.57 EPS and FY2024 earnings at $2.18 EPS.
MGY has been the subject of several other reports. Mizuho decreased their price objective on shares of Magnolia Oil & Gas from $29.00 to $28.00 in a report on Friday, May 19th. Citigroup decreased their price target on shares of Magnolia Oil & Gas from $25.00 to $22.00 in a report on Sunday, May 21st. SpectralCast reaffirmed a “maintains” rating on shares of Magnolia Oil & Gas in a report on Monday, May 22nd. Truist Financial decreased their price target on shares of Magnolia Oil & Gas from $33.00 to $27.00 in a report on Monday, July 24th. Finally, Piper Sandler decreased their price target on shares of Magnolia Oil & Gas from $33.00 to $29.00 in a report on Tuesday, June 13th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Magnolia Oil & Gas currently has an average rating of “Buy” and an average price target of $27.50.
Magnolia Oil & Gas Price Performance
Shares of MGY stock opened at $22.74 on Monday. The firm has a market cap of $4.77 billion, a P/E ratio of 6.55 and a beta of 2.12. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.10 and a quick ratio of 3.10. Magnolia Oil & Gas has a 1-year low of $18.17 and a 1-year high of $27.57. The firm has a fifty day moving average of $21.14 and a two-hundred day moving average of $21.29.
Magnolia Oil & Gas Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Thursday, August 10th will be given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Wednesday, August 9th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 13.26%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of MGY. First Trust Advisors LP lifted its stake in shares of Magnolia Oil & Gas by 562.8% in the 1st quarter. First Trust Advisors LP now owns 8,926,500 shares of the company’s stock worth $195,312,000 after acquiring an additional 7,579,743 shares during the period. BlackRock Inc. lifted its stake in shares of Magnolia Oil & Gas by 32.5% in the 1st quarter. BlackRock Inc. now owns 16,647,384 shares of the company’s stock worth $364,245,000 after acquiring an additional 4,086,152 shares during the period. American Century Companies Inc. lifted its stake in shares of Magnolia Oil & Gas by 340.1% in the 1st quarter. American Century Companies Inc. now owns 3,142,982 shares of the company’s stock worth $68,764,000 after acquiring an additional 2,428,794 shares during the period. Aventail Capital Group LP lifted its stake in shares of Magnolia Oil & Gas by 5,184.9% in the 4th quarter. Aventail Capital Group LP now owns 1,880,615 shares of the company’s stock worth $44,100,000 after acquiring an additional 1,845,030 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in shares of Magnolia Oil & Gas by 23.3% in the 2nd quarter. Victory Capital Management Inc. now owns 6,068,157 shares of the company’s stock worth $126,824,000 after acquiring an additional 1,145,496 shares during the period. Institutional investors own 94.12% of the company’s stock.
About Magnolia Oil & Gas
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 area in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.
Featured Articles
- Five stocks we like better than Magnolia Oil & Gas
- What’s a Sound Playbook for Investors During Election Years?
- MarketBeat Week in Review – 8/7 – 8/11
- Best ESG Stocks: 11 Best Stocks for ESG Investing
- 3 Retailers To Watch Closely Next Week
- Uptrend Stocks Explained: Learn How to Trade Using Uptrends
- Investing in Coffee: 3 Great Strategies to Consider
Receive News & Ratings for Magnolia Oil & Gas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Magnolia Oil & Gas and related companies with MarketBeat.com's FREE daily email newsletter.
