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

Magnolia Oil & Gas

03/11/2023 16:00

* Magnolia Oil & Gas Corp  MGY.N  reported quarterly
adjusted
earnings of 54 cents​​ per share for the quarter ended in
September, lower than the same quarter last year, when the
company reported EPS of $1.29.  The mean expectation of
fifteen analysts for the quarter was for earnings of 53 cents
per share. Wall Street expected results to range from 48 cents
to 57 cents per share.
    * Revenue fell 34.6% to $315.68 million from a year ago;
analysts
expected $317.45 million. 
    * Magnolia Oil & Gas Corp's reported EPS for the quarter was
54
cents​.
    * The company reported quarterly net income of $102.03
million.
    * Magnolia Oil & Gas Corp shares had risen by 0.7% this
quarter and lost 1.7% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 6.1%
in the last three months.​ 
    * In the last 30 days, seven analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 9 "strong buy" or "buy," 6
"hold" and no "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 $26.00 
This summary was machine generated from LSEG data November 3 at
04:00 p.m. UTC. ​All figures in US dollars unless otherwise
stated. QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Sep. 30 2023      0.53           0.54           Beat
 Jun. 30 2023      0.42           0.51           Beat
 Mar. 31 2023      0.54           0.56           Beat
 Dec. 31 2022      0.77           1.20           Beat