Magnolia Oil & Gas Co. (MGY) to Issue Quarterly Dividend of $0.13 on June 3rd

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 paid 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 Price Performance

Shares of NYSE MGY opened at $25.11 on Friday. The company has a 50 day moving average of $25.04 and a 200 day moving average of $22.60. 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 twelve month low of $18.72 and a twelve month high of $27.33. The firm has a market cap of $5.13 billion, a P/E ratio of 12.25, a PEG ratio of 1.51 and a beta of 2.03.

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 the consensus estimate 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 business had revenue of $322.63 million during the quarter, compared to analysts’ expectations of $324.95 million. As a group, research analysts expect that Magnolia Oil & Gas will post 2.11 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Wells Fargo & Company increased their price target 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. Susquehanna raised their target price on Magnolia Oil & Gas from $28.00 to $31.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. Truist Financial boosted their price target on Magnolia Oil & Gas from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Piper Sandler reiterated a “neutral” rating and issued a $29.00 price objective on shares of Magnolia Oil & Gas in a research note on Friday, April 19th. Finally, Benchmark restated a “hold” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus 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.