Magnolia Oil & Gas (MGY) Set to Announce Quarterly Earnings on Tuesday

Magnolia Oil & Gas (NYSE:MGY) is scheduled to be issuing its quarterly earnings data after the market closes on Tuesday, May 7th. Analysts expect the company to announce earnings of $0.43 per share for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Magnolia Oil & Gas (NYSE:MGY) last released its earnings results on Wednesday, February 14th. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.04). The firm had revenue of $322.63 million for the quarter, compared to the consensus estimate of $324.95 million. Magnolia Oil & Gas had a return on equity of 21.21% and a net margin of 31.65%. On average, analysts expect Magnolia Oil & Gas to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Magnolia Oil & Gas Price Performance

Magnolia Oil & Gas stock opened at $25.11 on Friday. The stock has a market cap of $5.13 billion, a price-to-earnings ratio of 12.25, a P/E/G ratio of 1.51 and a beta of 2.03. Magnolia Oil & Gas has a 12-month low of $18.72 and a 12-month high of $27.33. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.21. The business’s 50-day simple moving average is $25.04 and its 200 day simple moving average is $22.60.

Magnolia Oil & Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 13th will be issued a $0.13 dividend. The ex-dividend date is Friday, May 10th. This represents a $0.52 annualized dividend and a yield of 2.07%. Magnolia Oil & Gas’s dividend payout ratio is currently 25.37%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Bank of America initiated coverage on Magnolia Oil & Gas in a report on Tuesday, February 27th. They set a “buy” rating and a $25.00 target price on the stock. Citigroup boosted their price objective on Magnolia Oil & Gas from $18.00 to $22.00 and gave the company a “sell” rating in a research report on Monday, April 15th. Piper Sandler restated a “neutral” rating and set a $29.00 target price on shares of Magnolia Oil & Gas in a report on Friday, April 19th. Mizuho upped their price target on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Thursday, March 14th. Finally, Benchmark reissued a “hold” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $27.63.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corporation, an independent oil and natural gas company, engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. Its properties are located primarily in Karnes County and the Giddings area in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.