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

Magnolia Oil & Gas Co. (NYSE:MGY - Get Free Report) announced 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 dividend yield of 2.61%. 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 payment by an average of 86.6% per year over the last three years. Magnolia Oil & Gas has a payout ratio of 23.0% meaning its dividend is sufficiently covered by earnings. 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 Stock Performance

Shares of NYSE MGY traded down $0.76 during trading hours on Thursday, reaching $22.98. The stock had a trading volume of 1,659,271 shares, compared to its average volume of 1,834,120. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of 11.37, a PEG 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. Magnolia Oil & Gas has a fifty-two week low of $20.08 and a fifty-two week high of $29.02. The firm has a 50-day moving average of $24.91 and a 200-day moving average of $25.40.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Mizuho increased their price objective on Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a "neutral" rating in a research report on Monday, December 16th. The Goldman Sachs Group cut Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $27.00 to $26.00 in a research report on Friday, January 31st. Piper Sandler increased their price objective on Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 29th. Johnson Rice cut Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, January 28th. Finally, Siebert Williams Shank cut Magnolia Oil & Gas from a "buy" rating to a "hold" rating and set a $30.00 price objective for the company. in a research report on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $27.58.

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.