FY2019 EPS Estimates for Magnolia Oil & Gas Corp (NYSE:MGY) Decreased by Analyst

Magnolia Oil & Gas Corp (NYSE:MGY) – Research analysts at Oppenheimer decreased their FY2019 EPS estimates for Magnolia Oil & Gas in a research note issued on Monday, November 11th. Oppenheimer analyst T. Rezvan now anticipates that the company will post earnings per share of $0.37 for the year, down from their previous estimate of $0.44. Oppenheimer also issued estimates for Magnolia Oil & Gas’ Q4 2019 earnings at $0.10 EPS, Q1 2020 earnings at $0.10 EPS, Q2 2020 earnings at $0.09 EPS, Q3 2020 earnings at $0.09 EPS and Q4 2020 earnings at $0.08 EPS.

Other equities research analysts also recently issued reports about the company. Piper Jaffray Companies cut their price target on Magnolia Oil & Gas from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Monday, September 30th. Citigroup boosted their price target on Magnolia Oil & Gas from $11.50 to $12.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Barclays began coverage on Magnolia Oil & Gas in a research note on Friday, August 30th. They set an “overweight” rating and a $13.00 price target for the company. TheStreet upgraded Magnolia Oil & Gas from a “d” rating to a “b-” rating in a research note on Wednesday, October 30th. Finally, Zacks Investment Research upgraded Magnolia Oil & Gas from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company. Magnolia Oil & Gas presently has an average rating of “Buy” and a consensus target price of $15.50.

NYSE MGY opened at $11.65 on Wednesday. The stock has a 50-day moving average of $10.65 and a 200 day moving average of $11.07. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of 24.58 and a beta of 1.24. Magnolia Oil & Gas has a one year low of $9.27 and a one year high of $14.13. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.54 and a current ratio of 1.54.

Several hedge funds have recently bought and sold shares of the company. Icon Wealth Partners LLC lifted its position in shares of Magnolia Oil & Gas by 9.1% during the 3rd quarter. Icon Wealth Partners LLC now owns 12,000 shares of the company’s stock valued at $133,000 after buying an additional 1,000 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Magnolia Oil & Gas by 5.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 24,554 shares of the company’s stock valued at $284,000 after buying an additional 1,331 shares in the last quarter. Aperio Group LLC purchased a new position in shares of Magnolia Oil & Gas during the 2nd quarter valued at about $25,000. First Mercantile Trust Co. lifted its position in shares of Magnolia Oil & Gas by 28.2% during the 3rd quarter. First Mercantile Trust Co. now owns 10,740 shares of the company’s stock valued at $119,000 after buying an additional 2,360 shares in the last quarter. Finally, Amica Retiree Medical Trust lifted its position in shares of Magnolia Oil & Gas by 5.0% during the 2nd quarter. Amica Retiree Medical Trust now owns 60,641 shares of the company’s stock valued at $702,000 after buying an additional 2,877 shares in the last quarter. 67.94% of the stock is currently owned by hedge funds and other institutional investors.

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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