Magnolia Oil & Gas (NYSE:MGY) Issues Earnings Results
Magnolia Oil & Gas (NYSE:MGY) issued its quarterly earnings data on Monday. The company reported $0.15 earnings per share for the quarter, beating the Zacks’ 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%.
MGY stock traded up $1.03 on Tuesday, reaching $11.32. 88,186 shares of the company’s stock were exchanged, compared to its average volume of 2,245,375. The stock has a fifty day moving average of $9.16 and a 200-day moving average of $6.83. Magnolia Oil & Gas has a twelve month low of $3.23 and a twelve month high of $10.67. The firm has a market cap of $2.84 billion, a PE ratio of -1.55 and a beta of 2.72. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.48.
A number of research analysts have recently issued reports on the company. Piper Sandler boosted their target price on Magnolia Oil & Gas from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Wednesday, November 18th. Northland Securities raised Magnolia Oil & Gas from a “market perform” rating to an “outperform” rating in a report on Friday, November 6th. KeyCorp boosted their target price on Magnolia Oil & Gas from $9.00 to $10.00 and gave the company an “overweight” rating in a report on Thursday, January 21st. Credit Suisse Group dropped their target price on Magnolia Oil & Gas from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Monday, November 9th. Finally, MKM Partners lowered Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and boosted their target price for the company from $6.00 to $7.00 in a report on Monday, November 30th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company 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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