SunTrust Banks Weighs in on Magnolia Oil & Gas Corp’s Q4 2019 Earnings (NYSE:MGY)

Magnolia Oil & Gas Corp (NYSE:MGY) – Stock analysts at SunTrust Banks dropped their Q4 2019 EPS estimates for Magnolia Oil & Gas in a note issued to investors on Tuesday, February 11th. SunTrust Banks analyst N. Dingmann now forecasts that the company will earn $0.07 per share for the quarter, down from their prior estimate of $0.08. SunTrust Banks also issued estimates for Magnolia Oil & Gas’ Q1 2020 earnings at $0.09 EPS, Q3 2020 earnings at $0.09 EPS, Q4 2020 earnings at $0.10 EPS, FY2020 earnings at $0.38 EPS, Q2 2021 earnings at $0.10 EPS, Q3 2021 earnings at $0.10 EPS, Q4 2021 earnings at $0.11 EPS and FY2021 earnings at $0.44 EPS.

Several other equities research analysts have also recently weighed in on the company. Johnson Rice cut Magnolia Oil & Gas from a “buy” rating to an “accumulate” rating in a research note on Tuesday, November 19th. TheStreet upgraded Magnolia Oil & Gas from a “d” rating to a “b-” rating in a research note on Wednesday, October 30th. KeyCorp assumed coverage on Magnolia Oil & Gas in a research note on Wednesday, November 27th. They set an “overweight” rating and a $14.00 target price for the company. ValuEngine upgraded Magnolia Oil & Gas from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Finally, Zacks Investment Research cut Magnolia Oil & Gas from a “buy” rating to a “hold” rating in a research note on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Magnolia Oil & Gas presently has a consensus rating of “Buy” and a consensus price target of $15.18.

NYSE MGY opened at $9.66 on Thursday. The business has a fifty day moving average price of $11.58 and a two-hundred day moving average price of $11.07. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.54 and a quick ratio of 1.54. Magnolia Oil & Gas has a fifty-two week low of $9.27 and a fifty-two week high of $14.13. The stock has a market capitalization of $2.54 billion, a PE ratio of 21.00 and a beta of 1.39.

In related news, Director Michael G. Macdougall sold 37,779 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $12.48, for a total value of $471,481.92. Following the completion of the sale, the director now directly owns 21,961 shares in the company, valued at $274,073.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael G. Macdougall sold 50,000 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $11.47, for a total value of $573,500.00. Following the completion of the sale, the director now owns 21,961 shares of the company’s stock, valued at $251,892.67. The disclosure for this sale can be found here. Insiders sold a total of 650,000 shares of company stock valued at $7,512,199 over the last quarter. 7.90% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. increased its holdings in Magnolia Oil & Gas by 152.8% in the fourth quarter. Russell Investments Group Ltd. now owns 4,677,273 shares of the company’s stock valued at $58,837,000 after purchasing an additional 2,827,137 shares during the period. State Street Corp increased its holdings in Magnolia Oil & Gas by 5.6% in the fourth quarter. State Street Corp now owns 3,405,401 shares of the company’s stock valued at $42,840,000 after purchasing an additional 182,062 shares during the period. Systematic Financial Management LP increased its holdings in Magnolia Oil & Gas by 29.5% in the third quarter. Systematic Financial Management LP now owns 1,403,874 shares of the company’s stock valued at $15,583,000 after purchasing an additional 319,702 shares during the period. Caymus Capital Partners L.P. increased its holdings in Magnolia Oil & Gas by 14.4% in the third quarter. Caymus Capital Partners L.P. now owns 1,088,041 shares of the company’s stock valued at $12,077,000 after purchasing an additional 137,193 shares during the period. Finally, Wildcat Capital Management LLC acquired a new stake in Magnolia Oil & Gas in the third quarter valued at $9,963,000. Institutional investors and hedge funds own 68.22% of the company’s stock.

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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