Magnolia Oil & Gas Co. (NYSE:MGY) to Issue Quarterly Dividend of $0.13

Magnolia Oil & Gas Co. (NYSE:MGY) declared a quarterly dividend on Thursday, May 2nd, Zacks reports. Stockholders 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 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Friday, May 10th.

Magnolia Oil & Gas has a payout ratio of 21.7% indicating that its dividend is sufficiently covered by earnings. Equities 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 Up 0.8 %

Shares of NYSE:MGY traded up $0.20 during midday trading on Friday, reaching $25.11. The company had a trading volume of 807,712 shares, compared to its average volume of 3,108,770. The business’s 50 day moving average price is $24.98 and its 200 day moving average price is $22.59. The stock has a market cap of $5.13 billion, a PE ratio of 12.15, a P/E/G ratio of 1.49 and a beta of 2.03. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.21. Magnolia Oil & Gas has a 1-year low of $18.72 and a 1-year high of $27.33.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings results on Wednesday, February 14th. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.04). The business had revenue of $322.63 million for 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%. Research analysts forecast that Magnolia Oil & Gas will post 2.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MGY. Citigroup upped their price target on shares of Magnolia Oil & Gas from $18.00 to $22.00 and gave the stock a “sell” rating in a report on Monday, April 15th. Truist Financial upped their price target on shares of Magnolia Oil & Gas from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Susquehanna upped their price target on shares of Magnolia Oil & Gas from $28.00 to $31.00 and gave the stock a “positive” rating in a report on Monday, April 22nd. Wells Fargo & Company increased their price objective on Magnolia Oil & Gas from $23.00 to $27.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. Finally, Piper Sandler restated a “neutral” rating and issued a $29.00 price objective on shares of Magnolia Oil & Gas in a report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average 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.