Magnolia Oil & Gas (NYSE:MGY) announced its quarterly earnings results on Monday. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.05, MarketWatch Earnings reports. Magnolia Oil & Gas had a negative net margin of 199.68% and a negative return on equity of 1.06%.
Magnolia Oil & Gas stock traded up $0.88 during trading hours on Tuesday, reaching $11.17. 96,201 shares of the company’s stock traded hands, compared to its average volume of 2,245,375. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of -1.55 and a beta of 2.72. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.73 and a current ratio of 1.73. Magnolia Oil & Gas has a fifty-two week low of $3.23 and a fifty-two week high of $10.67. The firm’s 50 day moving average is $9.16 and its 200-day moving average is $6.83.
A number of research firms have recently issued reports on MGY. Northland Securities upgraded shares of Magnolia Oil & Gas from a “market perform” rating to an “outperform” rating in a research note on Friday, November 6th. KeyCorp lifted their price objective on Magnolia Oil & Gas from $9.00 to $10.00 and gave the company an “overweight” rating in a research report on Thursday, January 21st. Piper Sandler increased their target price on Magnolia Oil & Gas from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Wednesday, November 18th. Credit Suisse Group cut their price target 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. Finally, MKM Partners lowered shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $6.00 to $7.00 in a report on Monday, November 30th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Magnolia Oil & Gas 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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