Magnolia Oil & Gas Co. (NYSE:MGY) Declares $0.13 Quarterly Dividend

Magnolia Oil & Gas Co. (NYSE:MGY - Get Free Report) declared a quarterly dividend on Thursday, May 2nd, Zacks reports. Shareholders 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 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Friday, May 10th.

Magnolia Oil & Gas has a dividend payout ratio of 21.7% meaning its dividend is sufficiently covered by earnings. 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 traded up $0.20 during trading on Friday, reaching $25.11. 2,154,822 shares of the company traded hands, compared to its average volume of 3,125,489. 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 52 week low of $18.72 and a 52 week high of $27.33. The firm has a market capitalization of $5.13 billion, a PE ratio of 12.25, a PEG ratio of 1.49 and a beta of 2.03. The company's 50 day moving average is $24.98 and its two-hundred day moving average is $22.59.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last announced its quarterly earnings data on Wednesday, February 14th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.54 by ($0.04). The firm 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, sell-side analysts predict that Magnolia Oil & Gas will post 2.11 earnings per share for the current year.

Wall Street Analyst Weigh In

MGY has been the subject of several research analyst reports. Wells Fargo & Company boosted their price objective on shares of Magnolia Oil & Gas from $23.00 to $27.00 and gave the company an "equal weight" rating in a research report on Thursday, April 18th. Susquehanna raised their price objective on Magnolia Oil & Gas from $28.00 to $31.00 and gave the company a "positive" rating in a research note on Monday, April 22nd. The Goldman Sachs Group boosted their target price on Magnolia Oil & Gas from $24.50 to $28.00 and gave the stock a "buy" rating in a research note on Tuesday, March 26th. Citigroup raised their price target on shares of Magnolia Oil & Gas from $18.00 to $22.00 and gave the company a "sell" rating in a research note on Monday, April 15th. Finally, Benchmark reiterated a "hold" rating on shares of Magnolia Oil & Gas in a research report on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, Magnolia Oil & Gas presently has an average rating of "Hold" and an average 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.