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

Magnolia Oil & Gas Co. (NYSE:MGY) announced a quarterly dividend on Thursday, May 2nd, Zacks reports. Investors of record on Monday, May 13th will be given a dividend of 0.13 per share on Monday, June 3rd. This represents a $0.52 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Friday, May 10th.

Magnolia Oil & Gas has a 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 Stock Performance

NYSE MGY opened at $25.81 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.88 and a quick ratio of 1.88. Magnolia Oil & Gas has a 1-year low of $18.91 and a 1-year high of $27.33. The company has a market cap of $5.27 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 1.52 and a beta of 2.03. The stock’s 50 day simple moving average is $25.19 and its 200-day simple moving average is $22.62.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Wednesday, February 14th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.04). The business had revenue of $322.63 million for the quarter, compared to analyst estimates of $324.95 million. Magnolia Oil & Gas had a return on equity of 21.21% and a net margin of 31.65%. As a group, equities research analysts anticipate that Magnolia Oil & Gas will post 2.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MGY. Citigroup increased their price objective on shares of Magnolia Oil & Gas from $18.00 to $22.00 and gave the company a “sell” rating in a report on Monday, April 15th. Truist Financial boosted their price objective on Magnolia Oil & Gas from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Susquehanna lifted their price target on Magnolia Oil & Gas from $28.00 to $31.00 and gave the stock a “positive” rating in a report on Monday, April 22nd. Benchmark restated a “hold” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, April 23rd. Finally, Bank of America assumed coverage on shares of Magnolia Oil & Gas in a report on Tuesday, February 27th. They issued a “buy” rating and a $25.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $27.63.

About Magnolia Oil & Gas

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.