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

Magnolia Oil & Gas Co. (NYSE:MGY) announced a quarterly dividend on Thursday, May 2nd, Zacks reports. Shareholders of record on Monday, May 13th will be paid 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 of this dividend is Friday, May 10th.

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

NYSE MGY opened at $25.87 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.88 and a quick ratio of 1.88. The firm has a market capitalization of $5.28 billion, a price-to-earnings ratio of 12.62, a price-to-earnings-growth ratio of 1.52 and a beta of 2.03. The company has a 50 day simple moving average of $25.26 and a 200-day simple moving average of $22.65. Magnolia Oil & Gas has a 52-week low of $18.91 and a 52-week high of $27.33.

Magnolia Oil & Gas (NYSE:MGY) last posted 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). Magnolia Oil & Gas had a return on equity of 21.21% and a net margin of 31.65%. The company had revenue of $322.63 million during the quarter, compared to analyst estimates of $324.95 million. Equities research analysts predict that Magnolia Oil & Gas will post 2.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on MGY shares. Wells Fargo & Company increased their price objective on Magnolia Oil & Gas from $23.00 to $27.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. Bank of America assumed coverage on shares of Magnolia Oil & Gas in a research report on Tuesday, February 27th. They set a “buy” rating and a $25.00 target price on the stock. Piper Sandler reiterated a “neutral” rating and set a $29.00 price target on shares of Magnolia Oil & Gas in a research note on Friday, April 19th. The Goldman Sachs Group raised their price objective on Magnolia Oil & Gas from $24.50 to $28.00 and gave the company a “buy” rating in a research note on Tuesday, March 26th. Finally, Benchmark reiterated a “hold” rating on shares of Magnolia Oil & Gas in a report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price 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.