Magnolia Oil & Gas Corp (NYSE:MGY) – Piper Jaffray Companies decreased their Q3 2019 earnings per share (EPS) estimates for shares of Magnolia Oil & Gas in a research note issued to investors on Sunday, October 20th. Piper Jaffray Companies analyst K. Harrison now forecasts that the company will earn $0.07 per share for the quarter, down from their prior forecast of $0.09. Piper Jaffray Companies currently has a “Overweight” rating and a $13.00 price target on the stock. Piper Jaffray Companies also issued estimates for Magnolia Oil & Gas’ Q4 2019 earnings at $0.06 EPS, FY2019 earnings at $0.34 EPS, Q1 2020 earnings at $0.05 EPS, Q2 2020 earnings at $0.04 EPS, Q3 2020 earnings at $0.04 EPS and Q4 2020 earnings at $0.03 EPS.
Several other research firms have also recently weighed in on MGY. Citigroup lifted their price target on shares of Magnolia Oil & Gas from $11.50 to $12.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. R. F. Lafferty set a $20.00 price target on shares of Magnolia Oil & Gas and gave the company a “buy” rating in a report on Wednesday, August 7th. ValuEngine upgraded shares of Magnolia Oil & Gas from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. TheStreet cut shares of Magnolia Oil & Gas from a “c-” rating to a “d” rating in a report on Thursday, September 19th. Finally, Zacks Investment Research upgraded shares of Magnolia Oil & Gas from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $15.50.
Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results on Tuesday, August 6th. The company reported $0.12 EPS for the quarter, missing the 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 during the quarter, compared to analysts’ expectations of $239.51 million.
In other Magnolia Oil & Gas news, Chairman Stephen I. Chazen bought 25,000 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were purchased at an average price of $10.22 per share, for a total transaction of $255,500.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 7.90% of the company’s stock.
Several hedge funds have recently made changes to their positions in MGY. Fox Run Management L.L.C. bought a new stake in shares of Magnolia Oil & Gas during the 2nd quarter valued at $206,000. Strs Ohio bought a new stake in shares of Magnolia Oil & Gas during the 2nd quarter valued at $312,000. Rothschild & Co. Asset Management US Inc. boosted its holdings in shares of Magnolia Oil & Gas by 56.7% during the 2nd quarter. Rothschild & Co. Asset Management US Inc. now owns 1,222,033 shares of the company’s stock valued at $14,151,000 after buying an additional 442,360 shares in the last quarter. Virginia Retirement Systems ET AL bought a new stake in shares of Magnolia Oil & Gas during the 2nd quarter valued at $195,000. Finally, Systematic Financial Management LP raised its position in shares of Magnolia Oil & Gas by 1.5% in the 2nd quarter. Systematic Financial Management LP now owns 1,084,172 shares of the company’s stock worth $12,555,000 after purchasing an additional 15,679 shares during the last quarter. Hedge funds and other institutional investors own 67.00% of the company’s stock.
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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