Why Is Magnolia Oil & Gas Corp (MGY) Up 1.1% Since Last Earnings Report? [Yahoo! Finance]
Magnolia Oil & Gas Corporation Class A (MGY)
Last magnolia oil & gas corporation class a earnings: 2/19 04:11 pm
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Source: Yahoo! Finance
Will the recent positive trend continue leading up to its next earnings release, or is Magnolia Oil & Gas Corp due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers. Magnolia Q2 Earnings Beat Estimates Magnolia Oil & Gas reported second-quarter 2024 adjusted net profit of 56 cents per share, beating the Zacks Consensus Estimate of 51 cents. The outperformance can be attributed to a healthy increase in production volumes and higher oil prices year over year. However, the oil and gas exploration and production company's total revenues came in at $336.7 million, which missed the Zacks Consensus Estimate of $341 million. It was due to lower-than-expected revenues from natural gas. Moreover, the metric totaled $18.6 million, which missed the consensus mark of $24.3 million. However, the top line increased 4.4% from $280.3 million r
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MGY
News
- Magnolia Oil & Gas Co. (NYSE: MGY) had its price target lowered by analysts at Mizuho from $28.00 to $27.00. They now have a "neutral" rating on the stock.MarketBeat
- Magnolia Oil & Gas Co. (NYSE: MGY) had its price target lowered by analysts at JPMorgan Chase & Co. from $26.00 to $23.00. They now have a "neutral" rating on the stock.MarketBeat
- Returns on Capital Paint A Bright Future For Magnolia Oil & Gas (NYSE:MGY) [Yahoo! Finance]Yahoo! Finance
- Magnolia Oil & Gas Co. (NYSE: MGY) had its price target lowered by analysts at Susquehanna from $33.00 to $32.00. They now have a "positive" rating on the stock.MarketBeat
- Magnolia Oil & Gas: Meets Cost Reduction Targets Ahead Of Schedule [Seeking Alpha]Seeking Alpha
MGY
Earnings
- 7/31/24 - In-Line
MGY
Sec Filings
- 9/5/24 - Form 4
- 8/1/24 - Form 10-Q
- 7/31/24 - Form 8-K
- MGY's page on the SEC website