Magnolia Oil & Gas (NYSE:MGY) Posts Earnings Results, Beats Estimates By $0.03 EPS

Magnolia Oil & Gas (NYSE:MGY) announced its earnings results on Tuesday. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.03, Zacks reports. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.78%.

Magnolia Oil & Gas Trading Up 1.8 %

Shares of MGY traded up $0.42 during trading hours on Tuesday, reaching $23.92. 3,350,403 shares of the company traded hands, compared to its average volume of 1,868,193. The stock’s fifty day moving average price is $24.34 and its 200 day moving average price is $25.23. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. The firm has a market cap of $4.70 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 2.85 and a beta of 1.98. Magnolia Oil & Gas has a 12-month low of $21.07 and a 12-month high of $29.02.

Magnolia Oil & Gas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.51%. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. The ex-dividend date is Friday, February 14th. Magnolia Oil & Gas’s dividend payout ratio is presently 25.74%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on MGY shares. Johnson Rice lowered Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a report on Tuesday, January 28th. Piper Sandler boosted their price objective on Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. The Goldman Sachs Group cut shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $27.00 to $26.00 in a research note on Friday, January 31st. Truist Financial upped their price target on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Finally, Bank of America reissued a “neutral” rating and set a $28.00 target price (down previously from $29.00) on shares of Magnolia Oil & Gas in a research note on Monday, January 13th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Magnolia Oil & Gas currently has a consensus rating of “Hold” and a consensus price target 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.