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

Magnolia Oil & Gas Corp (NYSE:MGY) declared a quarterly dividend on Wednesday, July 29th. Shareholders of record on Monday, August 10th will be paid a dividend of 0.18 per share on Tuesday, September 1st. This represents a c) dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Monday, August 10th. This is a 9.1% increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.17.

Magnolia Oil & Gas has a payout ratio of 36.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Magnolia Oil & Gas to earn $2.44 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 29.5%.

Magnolia Oil & Gas Trading Up 0.1%

MGY stock opened at $25.04 on Friday. The company has a market capitalization of $4.63 billion, a PE ratio of 14.56 and a beta of 0.70. Magnolia Oil & Gas has a one year low of $21.07 and a one year high of $32.76. The company’s 50 day moving average price is $26.60 and its two-hundred day moving average price is $27.53. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.10 and a current ratio of 1.10.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. The firm had revenue of $358.51 million during the quarter, compared to analyst estimates of $349.89 million. Magnolia Oil & Gas had a net margin of 24.40% and a return on equity of 16.28%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.54 EPS. As a group, analysts predict that Magnolia Oil & Gas will post 2.7 earnings per share for the current fiscal year.

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).