Magnolia Oil & Gas Corp (NYSE:MGY) Announces Quarterly Dividend of $0.17

Magnolia Oil & Gas Corp (NYSE:MGY) announced a quarterly dividend on Friday, May 1st. Stockholders of record on Tuesday, May 12th will be given a dividend of 0.165 per share on Monday, June 1st. This represents a c) annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, May 12th.

Magnolia Oil & Gas has a payout ratio of 33.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Magnolia Oil & Gas to earn $2.49 per share next year, which means the company should continue to be able to cover its $0.66 annual dividend with an expected future payout ratio of 26.5%.

Magnolia Oil & Gas Trading Down 0.5%

Shares of MGY stock traded down $0.15 during trading on Friday, hitting $30.10. 2,108,383 shares of the stock traded hands, compared to its average volume of 2,019,529. The firm has a market capitalization of $5.61 billion, a P/E ratio of 17.50, a price-to-earnings-growth ratio of 2.00 and a beta of 0.83. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.54 and a quick ratio of 1.54. The firm’s fifty day moving average price is $29.53 and its 200-day moving average price is $25.46. Magnolia Oil & Gas has a 52-week low of $20.45 and a 52-week high of $32.76.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings results on Thursday, February 5th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.36 by $0.01. The firm had revenue of $317.63 million for the quarter, compared to analyst estimates of $322.18 million. Magnolia Oil & Gas had a net margin of 24.79% and a return on equity of 16.67%. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.44 EPS. As a group, research analysts forecast that Magnolia Oil & Gas will post 2.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Weiss Ratings raised shares of Magnolia Oil & Gas from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday. Siebert Williams Shank lowered shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating in a research report on Friday, March 6th. Truist Financial lifted their price target on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “hold” rating in a research report on Monday, April 27th. Mizuho set a $30.00 price target on shares of Magnolia Oil & Gas in a research report on Friday, February 6th. Finally, UBS Group boosted their target price on Magnolia Oil & Gas from $29.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Magnolia Oil & Gas currently has an average rating of “Moderate Buy” and a consensus price target of $31.08.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corp (NYSE: MGY) is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties.

The company’s core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs).