Magnolia Oil & Gas (NYSE:MGY) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Magnolia Oil & Gas (NYSE:MGY) announced its quarterly earnings data on Tuesday. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03, Zacks reports. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.78%.

Magnolia Oil & Gas Trading Up 1.8 %

Magnolia Oil & Gas stock traded up $0.42 during midday trading on Tuesday, hitting $23.92. 3,350,403 shares of the stock were exchanged, compared to its average volume of 1,868,193. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. The stock’s 50-day simple moving average is $24.34 and its 200 day simple moving average is $25.23. Magnolia Oil & Gas has a fifty-two week low of $21.07 and a fifty-two week high of $29.02. The stock has a market capitalization of $4.70 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 2.85 and a beta of 1.98.

Magnolia Oil & Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be issued a $0.15 dividend. The ex-dividend date is Friday, February 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.51%. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s dividend payout ratio is currently 25.74%.

Analyst Ratings Changes

A number of research firms recently issued reports on MGY. The Goldman Sachs Group downgraded shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and decreased their target price for the company from $27.00 to $26.00 in a research report on Friday, January 31st. Truist Financial boosted their price objective on Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “buy” rating in a report on Monday, January 13th. Johnson Rice lowered Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a report on Tuesday, January 28th. Mizuho boosted their price target on Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, December 16th. Finally, Piper Sandler raised their price target on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Magnolia Oil & Gas 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.