Magnolia Oil & Gas Corporation (NYSE:MGY) is set to announce third quarter earning results on Thursday 5th November 2020, after market close.
Analysts surveyed by Thomson Reuters are predicting, MGY to report 3Q20 income of $ 0.07 per share.
For the full year, analysts anticipate top line of $ 529.22 million, while looking forward to loss of $ 0.01 per share bottom line.
Previous Quarter Performance
Magnolia Oil & Gas Corporation unveiled loss for the second quarter of $ 0.08 per share, from the revenue of $ 82.84 million. Street analysts expected Magnolia Oil & Gas Corporation to report loss of $ 0.06 per share on revenue of $ 91.99 million for the second quarter. The bottom line results missed street analysts by $ 0.02 or 33.33 percent, at the same time, top line results fell short of analysts by $ 9.15 million or 9.95 percent.
Stock Performance
Shares of Magnolia Oil & Gas Corporation traded low $ -0.30 or -6.76 percent on Wednesday, reaching $ 4.14 with volume of 1.55 million shares. Magnolia Oil & Gas Corporation has traded high as $ 4.47 and has cracked $ 4.13 on the downward trend
The closing price of $ 4.14, representing a 37.46 % increase from the 52 week low of $ 3.23 and a 66.59 % decrease over the 52 week high of $ 13.29.
The company has a market capital of $ 1.04 billion and is part of the Energy sector and Oil & Gas E&P industry.
Magnolia Oil & Gas Corporation engages in the business of acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. The company has oil and natural gas properties located primarily in Karnes County and the Giddings Field in South Texas primarily comprising the Eagle Ford Shale and the Austin Chalk formation. As of December 31, 2018, its assets consisted of a total leasehold position of 455,964 net acres, including 16,841 net acres with 200 net producing wells in the Karnes County portion of the Eagle Ford Shale; and 439,123 net acres with 846 net producing wells in the Giddings Field of the Austin Chalk.
