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

Magnolia Oil & Gas Co. (NYSE:MGY) declared a quarterly dividend on Monday, February 3rd,RTT News reports. Investors of record on Friday, February 14th will be paid a dividend of 0.15 per share on Monday, March 3rd. This represents a $0.60 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.13.

Magnolia Oil & Gas has increased its dividend by an average of 86.6% annually over the last three years. Magnolia Oil & Gas has a payout ratio of 23.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Magnolia Oil & Gas to earn $2.05 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 25.4%.

Magnolia Oil & Gas Trading Up 2.2 %

Shares of Magnolia Oil & Gas stock opened at $24.19 on Wednesday. The firm’s 50 day moving average is $24.99 and its 200 day moving average is $25.41. Magnolia Oil & Gas has a 1 year low of $19.53 and a 1 year high of $29.02. The firm has a market capitalization of $4.75 billion, a PE ratio of 11.98, a price-to-earnings-growth ratio of 2.98 and a beta of 1.98. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20.

Analyst Ratings Changes

A number of equities analysts have recently commented on MGY shares. Truist Financial lifted their price target on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, January 13th. The Goldman Sachs Group downgraded Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $27.00 to $26.00 in a report on Friday, January 31st. Johnson Rice cut Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Mizuho increased their price target on Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. Finally, Benchmark reissued a “hold” rating on shares of Magnolia Oil & Gas in a research note on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $27.58.

Magnolia Oil & Gas Company Profile

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.