Magnolia Oil & Gas Corp (MGY) Expected to Post Earnings of $0.43 Per Share

Analysts expect Magnolia Oil & Gas Corp (NYSE:MGY) to announce earnings of $0.43 per share for the current quarter, Zacks reports. Four analysts have provided estimates for Magnolia Oil & Gas’ earnings, with the lowest EPS estimate coming in at $0.29 and the highest estimate coming in at $0.67. The business is scheduled to report its next earnings results before the market opens on Tuesday, November 13th.

According to Zacks, analysts expect that Magnolia Oil & Gas will report full year earnings of $1.37 per share for the current financial year, with EPS estimates ranging from $1.21 to $1.48. For the next financial year, analysts forecast that the firm will report earnings of $1.74 per share, with EPS estimates ranging from $1.47 to $2.15. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Magnolia Oil & Gas.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Tuesday, August 14th. The company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.92).

Several equities analysts have recently issued reports on MGY shares. Imperial Capital restated a “buy” rating and set a $18.00 target price (up from $16.00) on shares of Magnolia Oil & Gas in a research report on Wednesday, August 22nd. SunTrust Banks started coverage on Magnolia Oil & Gas in a research report on Thursday, August 2nd. They set a “buy” rating for the company. Zacks Investment Research upgraded Magnolia Oil & Gas from a “hold” rating to a “strong-buy” rating and set a $16.00 target price for the company in a research report on Wednesday, September 12th. Finally, Mitsubishi UFJ Financial Group restated an “overweight” rating on shares of Magnolia Oil & Gas in a research report on Thursday, October 25th.

In related news, VP Christopher G. Stavros acquired 10,000 shares of the company’s stock in a transaction dated Friday, September 7th. The shares were bought at an average price of $13.59 per share, for a total transaction of $135,900.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John B. Walker acquired 160,000 shares of the company’s stock in a transaction dated Wednesday, September 12th. The shares were bought at an average price of $13.76 per share, for a total transaction of $2,201,600.00. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 252,333 shares of company stock worth $2,747,619.

A number of institutional investors and hedge funds have recently bought and sold shares of MGY. Fox Run Management L.L.C. bought a new stake in Magnolia Oil & Gas in the 3rd quarter valued at $164,000. Emerald Advisers Inc. PA bought a new stake in Magnolia Oil & Gas in the 3rd quarter valued at $232,000. Acadian Asset Management LLC bought a new stake in Magnolia Oil & Gas in the 3rd quarter valued at $310,000. Clear Harbor Asset Management LLC bought a new stake in Magnolia Oil & Gas in the 3rd quarter valued at $552,000. Finally, Teton Advisors Inc. bought a new stake in Magnolia Oil & Gas in the 3rd quarter valued at $740,000. Institutional investors and hedge funds own 25.98% of the company’s stock.

Magnolia Oil & Gas stock opened at $12.14 on Tuesday. Magnolia Oil & Gas has a 1 year low of $9.66 and a 1 year high of $15.23.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corporation operates as an oil and gas exploration and production company. It has operations in South Texas in the core of the Eagle Ford. The company is headquartered in Houston, Texas.

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Earnings History and Estimates for Magnolia Oil & Gas (NYSE:MGY)

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