Magnolia Oil & Gas Corp (MGY) to Issue Quarterly Dividend of $0.17 on March 2nd

Magnolia Oil & Gas Corp (NYSE:MGY) announced a quarterly dividend on Thursday, January 29th. Stockholders of record on Tuesday, February 10th will be paid a dividend of 0.165 per share on Monday, March 2nd. This represents a c) annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, February 10th. This is a 10.0% increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.15.

Magnolia Oil & Gas has a payout ratio of 33.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Magnolia Oil & Gas to earn $2.31 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 28.6%.

Magnolia Oil & Gas Price Performance

Shares of MGY stock opened at $27.00 on Friday. The stock has a 50 day moving average price of $23.08 and a 200 day moving average price of $23.37. Magnolia Oil & Gas has a 52-week low of $19.09 and a 52-week high of $27.47. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.47. The firm has a market capitalization of $5.09 billion, a P/E ratio of 15.69 and a beta of 0.96.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Thursday, February 5th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.36 by $0.01. Magnolia Oil & Gas had a return on equity of 16.67% and a net margin of 24.79%.The company had revenue of $317.63 million for the quarter, compared to the consensus estimate of $322.18 million. During the same quarter in the prior year, the company posted $0.44 EPS. Magnolia Oil & Gas’s quarterly revenue was down 2.8% on a year-over-year basis. As a group, sell-side analysts predict that Magnolia Oil & Gas will post 2.1 earnings per share for the current year.

About Magnolia Oil & Gas

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).