Magnolia Oil & Gas (NYSE:MGY) released its quarterly earnings results on Monday. The company reported $0.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.05, MarketWatch Earnings reports. Magnolia Oil & Gas had a negative return on equity of 1.06% and a negative net margin of 199.68%.
NYSE MGY traded up $0.88 during trading hours on Tuesday, reaching $11.17. The company’s stock had a trading volume of 96,201 shares, compared to its average volume of 2,245,375. The firm has a fifty day simple moving average of $9.16 and a 200-day simple moving average of $6.83. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.73 and a quick ratio of 1.73. Magnolia Oil & Gas has a 52 week low of $3.23 and a 52 week high of $10.67. The stock has a market cap of $2.81 billion, a P/E ratio of -1.55 and a beta of 2.72.
MGY has been the subject of a number of research reports. Northland Securities raised Magnolia Oil & Gas from a “market perform” rating to an “outperform” rating in a report on Friday, November 6th. MKM Partners downgraded Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and increased their price target for the stock from $6.00 to $7.00 in a research report on Monday, November 30th. Credit Suisse Group dropped their price objective on Magnolia Oil & Gas from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Monday, November 9th. KeyCorp increased their target price on Magnolia Oil & Gas from $9.00 to $10.00 and gave the stock an “overweight” rating in a report on Thursday, January 21st. Finally, Piper Sandler boosted their price target on Magnolia Oil & Gas from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Wednesday, November 18th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $7.48.
Magnolia Oil & Gas Corporation engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. The company's properties are located primarily in Karnes County and the Giddings Field in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.
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