Magnolia Oil & Gas Corp to Issue Quarterly Dividend of $0.15 (NYSE:MGY)

Key Points

• Magnolia Oil & Gas Corp announced a quarterly dividend of $0.15 per share, with an annualized yield of 2.45%, set to be paid on September 2nd to investors of record from August 11th.
• The company boasts a dividend payout ratio of 30.6%, indicating strong earnings coverage for its dividend and is projected to maintain a future payout ratio of 26.0%.
• Magnolia Oil & Gas stock currently has a consensus rating of "Hold", with a mixed outlook from analysts reflected in varying price targets ranging from $21.00 to $30.00.

Magnolia Oil & Gas Corp (NYSE:MGY - Get Free Report) announced a quarterly dividend on Wednesday, July 30th, Wall Street Journal reports. Shareholders of record on Monday, August 11th will be given a dividend of 0.15 per share on Tuesday, September 2nd. This represents a c) dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Monday, August 11th.

Magnolia Oil & Gas has a dividend payout ratio of 30.6% meaning its dividend is sufficiently covered by earnings. 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 2.7%

Magnolia Oil & Gas stock traded down $0.64 during mid-day trading on Friday, reaching $23.19. 1,236,453 shares of the company were exchanged, compared to its average volume of 2,678,251. The business has a fifty day moving average of $23.14 and a 200 day moving average of $23.16. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.33 and a current ratio of 1.33. The firm has a market cap of $4.46 billion, a P/E ratio of 12.12, a PEG ratio of 3.18 and a beta of 1.28. Magnolia Oil & Gas has a 12-month low of $19.09 and a 12-month high of $29.02.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.03. The company had revenue of $318.98 million during the quarter, compared to analyst estimates of $311.58 million. Magnolia Oil & Gas had a return on equity of 19.40% and a net margin of 27.57%. Magnolia Oil & Gas's revenue was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.51 earnings per share. Research analysts anticipate that Magnolia Oil & Gas will post 2.1 earnings per share for the current fiscal year.

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.