Analysts Expect Magnolia Oil & Gas Corp (NYSE:MGY) Will Post Quarterly Sales of $259.91 Million

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.



Several research analysts have issued reports on MGY shares. R. F. Lafferty set a $20.00 price target on Magnolia Oil & Gas and gave the company a “buy” rating in a report on Wednesday, August 7th. Zacks Investment Research raised Magnolia Oil & Gas from a “sell” rating to a “hold” rating in a report on Wednesday. ValuEngine cut Magnolia Oil & Gas from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Wells Fargo & Co started coverage on Magnolia Oil & Gas in a report on Monday, May 20th. They issued an “outperform” rating and a $16.00 price target on the stock. Finally, Piper Jaffray Companies started coverage on Magnolia Oil & Gas in a report on Monday, July 8th. They issued an “overweight” rating and a $14.00 price target on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $16.33.

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.

Featured Article: What does a bar chart display?

Get a free copy of the Zacks research report on Magnolia Oil & Gas (MGY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

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.