Magnolia Oil & Gas Co. (NYSE:MGY) Declares Quarterly Dividend of $0.15

Magnolia Oil & Gas Co. (NYSE:MGY - Get Free Report) declared a quarterly dividend on Tuesday, April 29th, RTT News reports. Investors of record on Monday, May 12th will be paid a dividend of 0.15 per share on Monday, June 2nd. This represents a $0.60 annualized dividend and a dividend yield of 2.80%.

Magnolia Oil & Gas has raised its dividend by an average of 86.6% per year over the last three years. Magnolia Oil & Gas has a payout ratio of 28.4% meaning its dividend is sufficiently covered by earnings. Equities research 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 $0.60 annual dividend with an expected future payout ratio of 26.0%.

Magnolia Oil & Gas Stock Down 1.0 %

Shares of MGY traded down $0.21 during trading hours on Tuesday, hitting $21.46. The company had a trading volume of 262,784 shares, compared to its average volume of 2,775,697. The stock has a market capitalization of $4.17 billion, a price-to-earnings ratio of 11.12, a P/E/G ratio of 3.01 and a beta of 1.57. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.42. Magnolia Oil & Gas has a 52-week low of $19.09 and a 52-week high of $29.02. The firm has a fifty day moving average price of $22.80 and a 200-day moving average price of $24.47.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last released its earnings results on Tuesday, February 18th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.03. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. The company had revenue of $326.61 million during the quarter, compared to analyst estimates of $327.40 million. On average, equities research analysts forecast that Magnolia Oil & Gas will post 2.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros bought 2,500 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were bought at an average price of $22.05 per share, for a total transaction of $55,125.00. Following the completion of the acquisition, the chief executive officer now owns 892,372 shares of the company's stock, valued at approximately $19,676,802.60. This trade represents a 0.28 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.20% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on MGY shares. UBS Group started coverage on shares of Magnolia Oil & Gas in a research report on Tuesday, April 22nd. They set a "buy" rating and a $26.00 price target on the stock. Bank of America reiterated a "neutral" rating and issued a $28.00 price objective (down previously from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. Williams Trading set a $29.00 price objective on Magnolia Oil & Gas in a research report on Wednesday, March 5th. Piper Sandler decreased their price objective on shares of Magnolia Oil & Gas from $26.00 to $25.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Magnolia Oil & Gas has a consensus rating of "Hold" and an average price target of $27.21.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corp. engages in the acquisition, development, exploration, and production of oil and natural gas properties. It operates assets located in the Eagle Ford Shale and Austin Chalk formations in South Texas. The company was founded on February 14, 2017 and is headquartered in Houston, TX.

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