Magnolia Oil & Gas Co. (NYSE:MGY) Plans Quarterly Dividend of $0.13

Magnolia Oil & Gas Co. (NYSE:MGY) announced a quarterly dividend on Thursday, May 2nd, Zacks reports. Stockholders of record on Monday, May 13th will be given a dividend of 0.13 per share on Monday, June 3rd. This represents a $0.52 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Friday, May 10th.

Magnolia Oil & Gas has a payout ratio of 21.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Magnolia Oil & Gas to earn $2.33 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 22.3%.

Magnolia Oil & Gas Trading Up 0.8 %

Shares of Magnolia Oil & Gas stock opened at $25.11 on Friday. Magnolia Oil & Gas has a 1 year low of $18.72 and a 1 year high of $27.33. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.88 and a quick ratio of 1.88. The stock has a market cap of $5.13 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 1.51 and a beta of 2.03. The firm has a fifty day moving average price of $25.04 and a 200 day moving average price of $22.60.

Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results on Wednesday, February 14th. The company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.04). Magnolia Oil & Gas had a return on equity of 21.21% and a net margin of 31.65%. The company had revenue of $322.63 million during the quarter, compared to analysts’ expectations of $324.95 million. Equities research analysts predict that Magnolia Oil & Gas will post 2.11 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently commented on MGY shares. The Goldman Sachs Group raised their price target on shares of Magnolia Oil & Gas from $24.50 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, March 26th. Bank of America assumed coverage on Magnolia Oil & Gas in a research report on Tuesday, February 27th. They set a “buy” rating and a $25.00 target price on the stock. Benchmark reaffirmed a “hold” rating on shares of Magnolia Oil & Gas in a report on Tuesday, April 23rd. Piper Sandler reissued a “neutral” rating and issued a $29.00 price objective on shares of Magnolia Oil & Gas in a report on Friday, April 19th. Finally, Mizuho boosted their price objective on Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Thursday, March 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Magnolia Oil & Gas currently has a consensus rating of “Hold” and a consensus target price of $27.63.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corporation, an independent oil and natural gas company, engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. Its properties are located primarily in Karnes County and the Giddings area in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.