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Magnolia Oil & Gas Corp (MGY) Dips More Than Broader Markets: What You Should Know

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Magnolia Oil & Gas Corp (MGY) closed the most recent trading day at $29.40, moving -1.11% from the previous trading session. This change lagged the S&P 500's 1.08% loss on the day. At the same time, the Dow lost 0.81%, and the tech-heavy Nasdaq gained 0.22%.

Coming into today, shares of the company had gained 33.5% in the past month. In that same time, the Oils-Energy sector gained 10.73%, while the S&P 500 gained 1.03%.

Wall Street will be looking for positivity from Magnolia Oil & Gas Corp as it approaches its next earnings report date. The company is expected to report EPS of $1.17, up 108.93% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $451.45 million, up 80.05% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $4.46 per share and revenue of $1.75 billion, which would represent changes of +84.3% and +62.64%, respectively, from the prior year.

Investors should also note any recent changes to analyst estimates for Magnolia Oil & Gas Corp. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 4.44% higher within the past month. Magnolia Oil & Gas Corp is currently sporting a Zacks Rank of #1 (Strong Buy).

In terms of valuation, Magnolia Oil & Gas Corp is currently trading at a Forward P/E ratio of 6.67. This represents a premium compared to its industry's average Forward P/E of 6.15.

The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 16, which puts it in the top 7% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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