Wall Street brokerages expect Magnolia Oil & Gas Corp (NYSE:MGY) to report $233.50 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Magnolia Oil & Gas’ earnings. The lowest sales estimate is $210.30 million and the highest is $253.00 million. The business is expected to announce its next earnings report on Monday, May 13th.

According to Zacks, analysts expect that Magnolia Oil & Gas will report full year sales of $970.10 million for the current fiscal year, with estimates ranging from $934.00 million to $986.60 million. For the next fiscal year, analysts forecast that the business will report sales of $987.54 million, with estimates ranging from $905.80 million to $1.03 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Magnolia Oil & Gas.

Magnolia Oil & Gas (NYSE:MGY) last posted its earnings results on Monday, February 25th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.07). The firm had revenue of $255.06 million for the quarter, compared to the consensus estimate of $267.36 million.

A number of research analysts have recently issued reports on the stock. Susquehanna Bancshares assumed coverage on shares of Magnolia Oil & Gas in a research note on Wednesday, January 9th. They issued a “positive” rating and a $16.00 target price for the company. Citigroup assumed coverage on shares of Magnolia Oil & Gas in a research note on Friday, November 30th. They issued a “neutral” rating and a $13.00 target price for the company. Zacks Investment Research cut shares of Magnolia Oil & Gas from a “hold” rating to a “strong sell” rating in a research note on Wednesday, January 16th. Oppenheimer set a $15.00 target price on shares of Magnolia Oil & Gas and gave the company a “buy” rating in a research note on Tuesday, February 26th. Finally, Northland Securities reiterated a “buy” rating and issued a $19.00 target price on shares of Magnolia Oil & Gas in a research note on Tuesday, February 26th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $16.50.

In related news, Chairman Stephen I. Chazen acquired 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was purchased at an average price of $12.31 per share, for a total transaction of $307,750.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.

A number of hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP acquired a new stake in Magnolia Oil & Gas during the 4th quarter worth $181,000. FMR LLC grew its holdings in Magnolia Oil & Gas by 1.8% during the 4th quarter. FMR LLC now owns 20,476,000 shares of the company’s stock worth $229,536,000 after acquiring an additional 356,100 shares during the period. D. E. Shaw & Co. Inc. acquired a new stake in Magnolia Oil & Gas during the 4th quarter worth $2,082,000. Bank of America Corp DE acquired a new stake in Magnolia Oil & Gas during the 4th quarter worth $149,000. Finally, 1492 Capital Management LLC grew its holdings in Magnolia Oil & Gas by 42.8% during the 4th quarter. 1492 Capital Management LLC now owns 123,416 shares of the company’s stock worth $1,383,000 after acquiring an additional 37,017 shares during the period. Hedge funds and other institutional investors own 63.75% of the company’s stock.

NYSE:MGY opened at $12.14 on Monday. Magnolia Oil & Gas has a 1 year low of $9.88 and a 1 year 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.

Magnolia Oil & Gas Company Profile

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

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