Magnolia Oil & Gas Co. (NYSE:MGY) Plans Quarterly Dividend of $0.15

Magnolia Oil & Gas Co. (NYSE:MGY) announced a quarterly dividend on Monday, February 3rd,RTT News reports. Shareholders of record on Friday, February 14th will be paid a dividend of 0.15 per share on Monday, March 3rd. This represents a $0.60 annualized dividend and a yield of 2.52%. The ex-dividend date is Friday, February 14th. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.13.

Magnolia Oil & Gas has raised its dividend payment by an average of 86.6% annually over the last three years. Magnolia Oil & Gas has a dividend payout ratio of 26.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Magnolia Oil & Gas to earn $2.08 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 28.8%.

Magnolia Oil & Gas Trading Up 0.3 %

Shares of Magnolia Oil & Gas stock opened at $23.79 on Wednesday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.20. The firm has a market cap of $4.68 billion, a price-to-earnings ratio of 11.78, a PEG ratio of 2.85 and a beta of 1.98. Magnolia Oil & Gas has a twelve month low of $20.08 and a twelve month high of $29.02. The business has a 50-day moving average price of $24.64 and a 200-day moving average price of $25.34.

Analyst Upgrades and Downgrades

MGY has been the topic of a number of research reports. Siebert Williams Shank downgraded Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a research note on Tuesday, October 15th. Bank of America restated a “neutral” rating and issued a $28.00 price target (down previously from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Mizuho increased their price objective on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Piper Sandler lifted their price objective on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Finally, Truist Financial upped their target price on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $27.58.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corp. engages in the acquisition, development, exploration, and production of oil and natural gas properties. It operates assets located in the Eagle Ford Shale and Austin Chalk formations in South Texas. The company was founded on February 14, 2017 and is headquartered in Houston, TX.