Magnolia Oil & Gas Corp (MGY) To Go Ex-Dividend on February 10th

Magnolia Oil & Gas Corp (NYSE:MGY) declared a quarterly dividend on Thursday, January 29th. Investors of record on Tuesday, February 10th will be given a dividend of 0.165 per share on Monday, March 2nd. This represents a c) dividend on an annualized basis and a yield of 2.6%. The ex-dividend date 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 dividend payout ratio of 33.7% meaning its dividend is sufficiently covered by earnings. 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 Trading Down 0.1%

Shares of NYSE:MGY opened at $25.51 on Friday. The company has a market cap of $4.81 billion, a PE ratio of 14.25, a P/E/G ratio of 4.22 and a beta of 0.92. The company’s 50-day moving average price is $22.78 and its 200 day moving average price is $23.26. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas has a fifty-two week low of $19.09 and a fifty-two week high of $26.48.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.41 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.41. The company had revenue of $324.94 million during the quarter, compared to analysts’ expectations of $322.52 million. Magnolia Oil & Gas had a net margin of 25.90% and a return on equity of 18.10%. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.52 earnings per share. Sell-side analysts anticipate that Magnolia Oil & Gas will post 2.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Benchmark reaffirmed a “hold” rating on shares of Magnolia Oil & Gas in a report on Wednesday, January 21st. Citigroup raised shares of Magnolia Oil & Gas from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $19.00 to $25.00 in a report on Wednesday, January 14th. Weiss Ratings restated a “hold (c)” rating on shares of Magnolia Oil & Gas in a research report on Thursday, January 22nd. Zacks Research cut Magnolia Oil & Gas from a “hold” rating to a “strong sell” rating in a report on Monday, January 12th. Finally, BMO Capital Markets assumed coverage on Magnolia Oil & Gas in a research note on Friday, January 9th. They issued an “outperform” rating and a $27.00 price objective on the stock. Eight research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $26.64.

Magnolia Oil & Gas Company Profile

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).