Magnolia Oil & Gas Past Earnings Performance
Past criteria checks 1/6
Magnolia Oil & Gas's earnings have been declining at an average annual rate of -3.8%, while the Oil and Gas industry saw earnings growing at 9.9% annually. Revenues have been growing at an average rate of 5.7% per year. Magnolia Oil & Gas's return on equity is 16.3%, and it has net margins of 24.1%.
Key information
-3.76%
Earnings growth rate
-4.75%
EPS growth rate
| Oil and Gas Industry Growth | 33.67% |
| Revenue growth rate | 5.69% |
| Return on equity | 16.28% |
| Net Margin | 24.06% |
| Last Earnings Update | 31 Mar 2026 |
Recent past performance updates
Recent updates
Narrative Update • May 01
MGY: Higher Oil Price Decks And Reserves Will Support Future Returns
The analyst price target for Magnolia Oil & Gas has been raised from $35 to $38, as analysts factor in updated oil price decks, higher proved reserves, and revised valuation multiples across recent research. Analyst Commentary Recent research on Magnolia Oil & Gas has been active, with multiple bullish analysts raising price targets as they refresh oil price assumptions, update reserve assessments, and recalibrate valuation multiples.
Narrative Update • Apr 15
MGY: Higher Oil Decks And Buybacks Will Likely Only Support Current Price
Analysts now see Magnolia Oil & Gas's fair value at about $28.06, up from $24.00. This reflects Street price target revisions informed by updated oil price decks, higher proved reserves and adjusted forward P/E assumptions.Seeking Alpha • Apr 09
Magnolia Oil & Gas: Over $700 Million In Projected FCF At Current 2026 Strip
Summary Magnolia has no hedges, allowing it to fully benefit from commodity pricing upside. Although its production is around 39% oil, it also has substantial LNGs with a total liquids percentage around 68%. At the current strip (around $80 WTI oil), it is projected to generate $710 million in 2026 free cash flow. This would allow it to repurchase over 10 million shares while having hundreds of millions left over from its free cash flow. Read the full article on Seeking Alpha
Narrative Update • Apr 01
MGY: Higher Oil Assumptions And Steady Buybacks Will Shape A Balanced Outlook
Magnolia Oil & Gas enters this update with the analyst fair value estimate moving from $28.61 to $32.21, as analysts incorporate higher long term oil price assumptions, slightly adjusted margin and growth expectations, and somewhat richer P/E multiples across recent research. Analyst Commentary Recent Street research around Magnolia Oil & Gas has been active, with a series of price target revisions and rating changes tied to updated oil price decks, reserve disclosures, and views on geopolitical risk.Narrative Update • Mar 17
MGY: Higher Long Term Oil Prices Will Support Future Returns
Narrative Update: Magnolia Oil & Gas Analyst Target Shift The analyst price target for Magnolia Oil & Gas has moved up from $31 to $35, with analysts pointing to higher long term oil price assumptions, revised crude and Brent forecasts linked to Middle East tensions, and updated reserve data as key drivers behind the change. Analyst Commentary Recent Street research on Magnolia Oil & Gas has tilted more constructive, with a series of higher price targets and some rating changes that reflect shifting views on oil pricing, reserves and geopolitical risk.Narrative Update • Mar 03
MGY: Higher Margins And Buybacks Will Likely Fail To Justify Price
The analyst price target on Magnolia Oil & Gas has been raised from $19.56 to $24.00. Analysts point to updated reserve disclosures, steady state operations, a higher projected profit margin of 34.22%, and a slightly lower assumed future P/E of 10.23 as key supports for the change.Narrative Update • Feb 17
MGY: Steady Execution And Buybacks Will Shape A Measured Forward Outlook
Analysts have nudged their price targets on Magnolia Oil & Gas higher, with our fair value estimate moving from $26.81 to $28.61 as they factor in steady-state execution, updated year-end 2025 proved reserves, and continued support from recent upgrades and coverage initiations. Analyst Commentary Street research around Magnolia Oil & Gas has been active, with several recent price target changes and ratings updates clustering around the theme of steady execution and asset depth.Analysis Article • Feb 06
Magnolia Oil & Gas (NYSE:MGY) Is Increasing Its Dividend To $0.165
Magnolia Oil & Gas Corporation ( NYSE:MGY ) will increase its dividend from last year's comparable payment on the 2nd...Narrative Update • Feb 02
MGY: Dividend Growth And Giddings Resource Upside Will Support Future Returns
Analysts have made a modest adjustment to their price expectations for Magnolia Oil & Gas, reflecting updated views on its cost profile, Giddings resource potential, and sector modeling, even as some firms trim price targets while others raise ratings and highlight the company's low leverage and Eagle Ford footprint. Analyst Commentary Recent Street research on Magnolia Oil & Gas shows a mix of rating changes and target resets.Narrative Update • Jan 19
MGY: Low Costs And Buybacks Will Support Future Share Price Upside
Analysts have trimmed their fair value estimate for Magnolia Oil & Gas from $33.00 to $31.00, citing updated assumptions around revenue growth, profit margins, and a slightly higher future P/E multiple. They continue to highlight the company's Eagle Ford and Giddings positions, low cost structure, and minimal financial leverage in recent research.Narrative Update • Jan 05
MGY: Overweight Rating And Buybacks Will Support Future Share Price Upside
Analysts have modestly reduced their price target on Magnolia Oil & Gas, trimming it by $2 to reflect a more cautious oil macro backdrop. They also acknowledge improving revenue growth, expanding profit margins, and solid operational efficiencies that support a still-attractive longer term valuation multiple.Narrative Update • Dec 14
MGY: Overweight Upgrade And Buybacks Will Drive Future Upside Potential
Analysts have trimmed their price target on Magnolia Oil & Gas by about $1 to reflect a slightly higher discount rate amid a still uncertain oil macro backdrop, even as they modestly raise long term revenue growth and margin expectations while applying a lower future P/E multiple. Analyst Commentary Bullish analysts highlight that, despite a modest reduction in one price target to $23, the broader research narrative around Magnolia Oil & Gas remains constructive, underpinned by resilient operational execution and improving long term growth assumptions.Analysis Article • Nov 02
Earnings Update: Magnolia Oil & Gas Corporation (NYSE:MGY) Just Reported Its Third-Quarter Results And Analysts Are Updating Their Forecasts
Magnolia Oil & Gas Corporation ( NYSE:MGY ) shareholders are probably feeling a little disappointed, since its shares...Analysis Article • Sep 27
Returns At Magnolia Oil & Gas (NYSE:MGY) Are On The Way Up
To find a multi-bagger stock, what are the underlying trends we should look for in a business? Ideally, a business will...Analysis Article • Sep 02
Little Excitement Around Magnolia Oil & Gas Corporation's (NYSE:MGY) Earnings
When close to half the companies in the United States have price-to-earnings ratios (or "P/E's") above 20x, you may...Analysis Article • Jun 24
Does Magnolia Oil & Gas (NYSE:MGY) Have A Healthy Balance Sheet?
Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...Analysis Article • May 26
Magnolia Oil & Gas (NYSE:MGY) Is Achieving High Returns On Its Capital
To find a multi-bagger stock, what are the underlying trends we should look for in a business? Typically, we'll want to...Seeking Alpha • Apr 26
Magnolia Oil & Gas: Top Business Performance When Needed
Summary Magnolia Oil & Gas benefits from strong management and execution. The company's focus on the Eagle Ford provides a strategic advantage over competitors rushing to the Permian Basin. Alumni from Occidental Petroleum contribute to Magnolia's competitive edge and operational success. Despite significant natural gas production, Magnolia drills highly profitable wells. This company should benefit from the coming natural gas pricing rally that is expected. Read the full article on Seeking AlphaSeeking Alpha • Dec 10
Magnolia Oil & Gas: Continued Improvements In Capital Efficiency
Summary Magnolia's Q3 2024 total production was in-line with expectations despite some third-party midstream issues. Magnolia's oil production has been tracking a bit above expectations, and it now should finish 2024 with low-double digits growth compared to 2023. Magnolia's recent note offering pushes its note maturity to 2032, and it has no credit facility debt and more than $250 million in cash on hand. Magnolia is projected to generate more than $400 million in 2025 free cash flow at $67 WTI oil, along with mid-single digits production growth compared to 2024. Read the full article on Seeking AlphaSeeking Alpha • Nov 09
Magnolia Oil And Gas Solid But High-Priced
Summary Magnolia Oil and Gas, a $5.4 billion market cap company that produces from fields in south and southeast Texas, pays a 1.9% dividend and is buying back shares. Although it could be a takeover candidate, Magnolia is ranked a hold because it's at the top of its 52-week range, pays a small dividend, and has non-trivial short interest. The company is well-operated and conservatively run, with relatively little debt and a focus on oil production. Read the full article on Seeking AlphaSeeking Alpha • Aug 31
Magnolia Oil & Gas: Meets Cost Reduction Targets Ahead Of Schedule
Summary Magnolia achieved a 10% reduction in lease operating expense in Q2 2024. It previously was targeting a 5% to 10% reduction by 2H 2024. Production growth has also been solid, driven by its Giddings assets. Magnolia has expanded its Giddings development area to over 200,000 net acres. Magnolia remains unhedged, so its projected near-term free cash flow is affected by weaker commodity prices. Read the full article on Seeking Alpha
New Narrative • Aug 30
Giddings Expansion And Cost-Cutting Measures To Spur Growth Amid Analysts' Mixed Forecasts
Recent acquisitions and expansion in Giddings enhance Magnolia's growth opportunities in production and development, promising increased revenue from high-return wells.Seeking Alpha • May 29
Magnolia Oil & Gas: Working To Reduce LOE After Solid Q1 2024 Results
Summary Magnolia Oil & Gas Corporation met its production guidance for Q1 2024 while spending $11 million less than budgeted for D&C capex. It is dealing with some increases in lease operating expense, which it is aiming to reduce by 2H 2024. Magnolia is currently projected to generate $460 million in 2024 free cash flow. EnerVest's ownership is down to 7.6%, reducing the potential impact from future sales. Magnolia made a $125 million Giddings acquisition, primarily for future development opportunities. Read the full article on Seeking AlphaSeeking Alpha • Feb 20
Magnolia Oil & Gas: Projected To Generate Over $400 Million In 2024 FCF
Summary Magnolia Oil & Gas Corporation is projected to generate $437 million in free cash flow at current strip prices for 2024. Magnolia is dealing with weak natural gas prices (and no hedges) for approximately 30% of its total production. Magnolia's oil cut may end up at 42% for 2024, slightly better than I had previously modeled. Magnolia may be able to reduce its outstanding share count to 197 million by the end of 2024. Read the full article on Seeking AlphaSeeking Alpha • Feb 08
Magnolia Oil & Gas: Short-Term Pessimism, But Long-Term Optimism
Summary Magnolia Oil & Gas Corporation has been in a downtrend due to suppressed oil prices and a decline in the energy sector. MGY is a Texas energy pure play with a strong asset base and a focus on oil and gas exploration and production. Analysts rate MGY as a buy, and the stock has the potential for a 21.7% upside with a price target of $24.33 for FY2024. Read the full article on Seeking AlphaRevenue & Expenses Breakdown
Revenue & Expenses Breakdown
How Magnolia Oil & Gas makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 31 Mar 26 | 1,320 | 318 | 106 | 0 |
| 31 Dec 25 | 1,312 | 321 | 98 | 0 |
| 30 Sep 25 | 1,321 | 338 | 95 | 0 |
| 30 Jun 25 | 1,329 | 362 | 92 | 0 |
| 31 Mar 25 | 1,347 | 379 | 91 | 0 |
| 31 Dec 24 | 1,316 | 362 | 90 | 0 |
| 30 Sep 24 | 1,312 | 374 | 88 | 0 |
| 30 Jun 24 | 1,294 | 377 | 91 | 0 |
| 31 Mar 24 | 1,238 | 373 | 86 | 0 |
| 31 Dec 23 | 1,227 | 384 | 83 | 0 |
| 30 Sep 23 | 1,253 | 516 | 82 | 0 |
| 30 Jun 23 | 1,421 | 659 | 78 | 0 |
| 31 Mar 23 | 1,625 | 816 | 81 | 0 |
| 31 Dec 22 | 1,694 | 886 | 84 | 0 |
| 30 Sep 22 | 1,678 | 805 | 82 | 0 |
| 30 Jun 22 | 1,480 | 680 | 77 | 0 |
| 31 Mar 22 | 1,247 | 516 | 80 | 0 |
| 31 Dec 21 | 1,078 | 414 | 79 | 0 |
| 30 Sep 21 | 902 | 293 | 81 | 0 |
| 30 Jun 21 | 738 | 184 | 82 | 0 |
| 31 Mar 21 | 569 | 82 | -483 | 0 |
| 31 Dec 20 | 541 | -1,208 | 69 | 0 |
| 30 Sep 20 | 615 | -1,228 | 70 | 0 |
| 30 Jun 20 | 739 | -1,229 | 75 | 0 |
| 31 Mar 20 | 899 | -1,193 | 638 | 0 |
| 31 Dec 19 | 942 | 47 | 82 | 0 |
| 30 Sep 19 | 1,196 | -45 | 127 | 0 |
| 30 Jun 19 | 1,129 | -46 | 128 | 0 |
| 31 Mar 19 | 1,086 | 21 | 111 | 0 |
| 31 Dec 18 | 1,040 | 94 | 98 | 0 |
| 30 Sep 18 | 550 | 179 | 33 | 0 |
| 30 Jun 18 | 372 | 173 | 12 | 0 |
| 31 Mar 18 | 172 | 87 | 7 | 0 |
Quality Earnings: MGY has high quality earnings.
Growing Profit Margin: MGY's current net profit margins (24.1%) are lower than last year (28.1%).
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: MGY's earnings have declined by 3.8% per year over the past 5 years.
Accelerating Growth: MGY's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: MGY had negative earnings growth (-16.2%) over the past year, making it difficult to compare to the Oil and Gas industry average (-1.7%).
Return on Equity
High ROE: MGY's Return on Equity (16.3%) is considered low.
Return on Assets
Return on Capital Employed
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/13 21:28 |
| End of Day Share Price | 2026/05/13 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Magnolia Oil & Gas Corporation is covered by 32 analysts. 11 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Subhasish Chandra | Benchmark Company |
| Phillip Jungwirth | BMO Capital Markets Equity Research |
| Randy Ollenberger | BMO Capital Markets Equity Research |