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

Magnolia Oil & Gas Co. (NYSE:MGY) announced a quarterly dividend on Thursday, May 2nd, Zacks reports. Investors 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 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Friday, May 10th.

Magnolia Oil & Gas has a payout ratio of 22.0% meaning its dividend is sufficiently covered by earnings. 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 Stock Performance

Shares of MGY stock opened at $25.81 on Wednesday. The firm has a market cap of $5.27 billion, a P/E ratio of 12.59, a PEG ratio of 1.52 and a beta of 2.03. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.88 and a quick ratio of 1.88. Magnolia Oil & Gas has a fifty-two week low of $18.91 and a fifty-two week high of $27.33. The stock’s 50-day moving average is $25.19 and its two-hundred day moving average is $22.62.

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

Analyst Ratings Changes

MGY has been the subject of several analyst reports. Mizuho lifted their price objective on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Thursday, March 14th. Wells Fargo & Company boosted their price target on Magnolia Oil & Gas from $23.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. Piper Sandler reissued a “neutral” rating and set a $29.00 price objective on shares of Magnolia Oil & Gas in a report on Friday, April 19th. Truist Financial upped their target price on Magnolia Oil & Gas from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Finally, Susquehanna lifted their price target on shares of Magnolia Oil & Gas from $28.00 to $31.00 and gave the company a “positive” rating in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Magnolia Oil & Gas currently has an average rating of “Hold” and a consensus price target of $27.63.

Magnolia Oil & Gas Company Profile

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.