Magnolia Oil & Gas Co. (MGY) To Go Ex-Dividend on February 14th

Magnolia Oil & Gas Co. (NYSE:MGY) declared a quarterly dividend on Monday, February 3rd,RTT News reports. Stockholders 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 dividend yield of 2.48%. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.13.

Magnolia Oil & Gas has increased its dividend payment by an average of 86.6% annually over the last three years. Magnolia Oil & Gas has a payout ratio of 23.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Magnolia Oil & Gas to earn $2.05 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 25.4%.

Magnolia Oil & Gas Trading Up 2.2 %

Magnolia Oil & Gas stock opened at $24.19 on Wednesday. Magnolia Oil & Gas has a one year low of $19.53 and a one year high of $29.02. The company’s fifty day moving average price is $24.99 and its two-hundred day moving average price is $25.41. The company has a market capitalization of $4.75 billion, a price-to-earnings ratio of 11.98, a PEG ratio of 2.98 and a beta of 1.98. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.47 and a quick ratio of 1.47.

Wall Street Analysts Forecast Growth

Several research firms have commented on MGY. The Goldman Sachs Group cut Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and cut their price target for the company from $27.00 to $26.00 in a report on Friday, January 31st. Bank of America reissued a “neutral” rating and issued a $28.00 target price (down previously from $29.00) on shares of Magnolia Oil & Gas in a research note on Monday, January 13th. Piper Sandler lifted their price objective on Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Benchmark restated a “hold” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, October 15th. Finally, Johnson Rice cut Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target 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.