Brokerages predict that Magnolia Oil & Gas Corp (NYSE:MGY) will announce $259.91 million in sales for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for Magnolia Oil & Gas’ earnings, with the lowest sales estimate coming in at $251.00 million and the highest estimate coming in at $277.00 million. The company is scheduled to report its next quarterly earnings results on Tuesday, November 5th.
On average, analysts expect that Magnolia Oil & Gas will report full-year sales of $999.58 million for the current fiscal year, with estimates ranging from $961.00 million to $1.06 billion. For the next financial year, analysts forecast that the company will post sales of $1.11 billion, with estimates ranging from $986.49 million to $1.25 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover Magnolia Oil & Gas.
Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Tuesday, August 6th. The company reported $0.12 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.02). Magnolia Oil & Gas had a return on equity of 5.12% and a net margin of 12.13%. The firm had revenue of $242.96 million for the quarter, compared to the consensus estimate of $239.51 million.
In other news, Chairman Stephen I. Chazen acquired 25,000 shares of the stock in a transaction on Friday, August 9th. The shares were purchased at an average cost of $10.22 per share, for a total transaction of $255,500.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 7.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. grew its position in Magnolia Oil & Gas by 5.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 24,554 shares of the company’s stock worth $284,000 after purchasing an additional 1,331 shares in the last quarter. Versant Capital Management Inc purchased a new position in shares of Magnolia Oil & Gas during the 1st quarter valued at $25,000. Aperio Group LLC purchased a new position in shares of Magnolia Oil & Gas during the 2nd quarter valued at $25,000. Amica Retiree Medical Trust grew its holdings in shares of Magnolia Oil & Gas by 5.0% during the 2nd quarter. Amica Retiree Medical Trust now owns 60,641 shares of the company’s stock valued at $702,000 after acquiring an additional 2,877 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Magnolia Oil & Gas during the 2nd quarter valued at $71,000. Hedge funds and other institutional investors own 68.55% of the company’s stock.
Shares of NYSE MGY traded up $0.04 during trading on Friday, hitting $9.84. The company had a trading volume of 1,218,500 shares, compared to its average volume of 1,284,869. Magnolia Oil & Gas has a 52 week low of $9.27 and a 52 week high of $15.23. The business’s 50-day moving average is $10.77 and its 200 day moving average is $11.88. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.15 and a quick ratio of 1.15.
About Magnolia Oil & Gas
Magnolia Oil & Gas Corporation engages in the business of acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. The company has oil and natural gas properties located primarily in Karnes County and the Giddings Field in South Texas primarily comprising the Eagle Ford Shale and the Austin Chalk formation.
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