Magnolia Oil & Gas Corp (NYSE:MGY) Plans $0.15 Quarterly Dividend

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 paid 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 is Monday, August 11th.

Magnolia Oil & Gas has a dividend payout ratio of 30.6% 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 Performance

MGY traded down $0.40 on Friday, reaching $23.42. 3,700,494 shares of the stock were exchanged, compared to its average volume of 2,387,453. The company's 50-day moving average price is $23.22 and its 200 day moving average price is $23.11. Magnolia Oil & Gas has a fifty-two week low of $19.09 and a fifty-two week high of $29.02. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.44 and a quick ratio of 1.33. The firm has a market capitalization of $4.51 billion, a PE ratio of 12.26, a PEG ratio of 3.06 and a beta of 1.31.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.03. The business had revenue of $318.98 million during the quarter, compared to analysts' expectations of $311.58 million. Magnolia Oil & Gas had a return on equity of 19.34% and a net margin of 27.57%. The company's revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.51 EPS. As a group, sell-side analysts forecast that Magnolia Oil & Gas will post 2.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Magnolia Oil & Gas

Large investors have recently bought and sold shares of the company. First Trust Advisors LP boosted its holdings in shares of Magnolia Oil & Gas by 24.6% during the 4th quarter. First Trust Advisors LP now owns 15,410,496 shares of the company's stock worth $360,297,000 after purchasing an additional 3,038,709 shares during the last quarter. Encompass Capital Advisors LLC acquired a new position in shares of Magnolia Oil & Gas during the 1st quarter worth approximately $53,819,000. Jane Street Group LLC boosted its holdings in shares of Magnolia Oil & Gas by 1,382.9% during the 1st quarter. Jane Street Group LLC now owns 1,059,335 shares of the company's stock worth $26,759,000 after purchasing an additional 987,896 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Magnolia Oil & Gas by 506.2% during the 1st quarter. Millennium Management LLC now owns 1,022,836 shares of the company's stock worth $25,837,000 after purchasing an additional 854,113 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of Magnolia Oil & Gas during the 1st quarter worth approximately $21,066,000. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

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.