Magnolia Oil & Gas Corp reports results for the quarter ended in June - Earnings Summary

Magnolia Oil & Gas

01/08/2024 17:33

* Magnolia Oil & Gas Corp  MGY.N  reported quarterly
adjusted
earnings of 56 cents​​ per share for the quarter ended in June,
higher than the same quarter last year, when the company
reported EPS of 51 cents.  The mean expectation of
eighteen analysts for the quarter was for earnings of 53 cents
per share. Wall Street expected results to range from 48 cents
to 59 cents per share.
    * Revenue rose 20.1% to $336.73 million from a year ago;
analysts
expected $336.44 million. 
    * Magnolia Oil & Gas Corp's reported EPS for the quarter was
51
cents​.
    * The company reported quarterly net income of $95.56
million.
    * Magnolia Oil & Gas Corp shares had risen by 7.5% this
quarter and gained 27.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 3.8%
in the last three months.​ 
    * In the last 30 days, eleven analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 10 "strong buy" or "buy," 7
"hold" and 1 "sell" or "strong sell." 
    * The average consensus recommendation for the oil & gas
exploration and production peer group is also "buy"

Wall Street's median 12-month price target for Magnolia Oil &
Gas Corp is $29.00 
This summary was machine generated from LSEG data August 1 at
04:33 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.53           0.56           Beat
 Mar. 31 2024      0.46           0.49           Beat
 Dec. 31 2023      0.53           0.52           Missed
 Sep. 30 2023      0.53           0.54           Beat