Wall Street analysts expect Magnolia Oil & Gas Corp (NYSE:MGY) to post sales of $233.50 million for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Magnolia Oil & Gas’ earnings. The lowest sales estimate is $210.30 million and the highest is $253.00 million. The company is scheduled to issue its next quarterly earnings report on Monday, May 13th.
On average, analysts expect that Magnolia Oil & Gas will report full year sales of $970.10 million for the current year, with estimates ranging from $934.00 million to $986.60 million. For the next financial year, analysts anticipate that the business will report sales of $987.54 million, with estimates ranging from $905.80 million to $1.03 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Magnolia Oil & Gas.
MGY has been the topic of a number of analyst reports. Citigroup initiated coverage on shares of Magnolia Oil & Gas in a research report on Friday, November 30th. They issued a “neutral” rating and a $13.00 target price on the stock. Zacks Investment Research upgraded shares of Magnolia Oil & Gas from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 30th. ValuEngine upgraded shares of Magnolia Oil & Gas from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Northland Securities reiterated a “buy” rating and issued a $19.00 target price on shares of Magnolia Oil & Gas in a research report on Tuesday, February 26th. Finally, Johnson Rice initiated coverage on shares of Magnolia Oil & Gas in a research report on Monday, January 7th. They issued a “buy” rating and a $17.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. Magnolia Oil & Gas presently has an average rating of “Buy” and a consensus target price of $16.50.
In other news, Chairman Stephen I. Chazen acquired 25,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were purchased at an average price of $12.31 per share, for a total transaction of $307,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Several hedge funds have recently added to or reduced their stakes in the business. FMR LLC increased its position in shares of Magnolia Oil & Gas by 1.8% in the fourth quarter. FMR LLC now owns 20,476,000 shares of the company’s stock valued at $229,536,000 after acquiring an additional 356,100 shares during the period. Vanguard Group Inc. purchased a new position in shares of Magnolia Oil & Gas in the third quarter valued at about $113,312,000. Vanguard Group Inc purchased a new position in shares of Magnolia Oil & Gas in the third quarter valued at about $113,312,000. Capital World Investors purchased a new position in shares of Magnolia Oil & Gas in the third quarter valued at about $60,040,000. Finally, Victory Capital Management Inc. increased its position in shares of Magnolia Oil & Gas by 496.0% in the fourth quarter. Victory Capital Management Inc. now owns 3,570,458 shares of the company’s stock valued at $40,025,000 after acquiring an additional 2,971,428 shares during the period. Hedge funds and other institutional investors own 55.55% of the company’s stock.
Shares of NYSE:MGY opened at $11.92 on Monday. Magnolia Oil & Gas has a 52 week low of $9.88 and a 52 week high of $15.23. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.48 and a quick ratio of 1.48.
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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