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

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) released its quarterly earnings data on Tuesday. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.03, Zacks reports. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. The company had revenue of $326.61 million during the quarter, compared to the consensus estimate of $327.40 million.

Magnolia Oil & Gas Stock Down 2.3 %

Shares of MGY stock traded down $0.57 during trading hours on Friday, hitting $24.04. 2,633,660 shares of the company were exchanged, compared to its average volume of 1,977,937. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.42. The stock has a market capitalization of $4.72 billion, a price-to-earnings ratio of 12.45, a P/E/G ratio of 3.01 and a beta of 1.98. Magnolia Oil & Gas has a one year low of $21.49 and a one year high of $29.02. The business's 50-day simple moving average is $24.22 and its two-hundred day simple moving average is $25.22.

Magnolia Oil & Gas Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date is Friday, February 14th. This is a positive change from Magnolia Oil & Gas's previous quarterly dividend of $0.13. Magnolia Oil & Gas's dividend payout ratio is 31.09%.

Analyst Upgrades and Downgrades

MGY has been the subject of a number of research reports. Mizuho upped their price target on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a "neutral" rating in a research report on Monday, December 16th. Bank of America reaffirmed a "neutral" rating and issued a $28.00 target price (down previously from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Truist Financial raised their target price on Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a "buy" rating in a report on Monday, January 13th. Piper Sandler upped their price target on Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a "neutral" rating in a report on Wednesday, January 29th. Finally, The Goldman Sachs Group downgraded shares of Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $27.00 to $26.00 in a research report on Friday, January 31st. Two 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. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average 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.