Magnolia Oil & Gas Corp (NYSE:MGY) Raises Dividend to $0.17 Per Share

Magnolia Oil & Gas Corp (NYSE:MGY) announced a quarterly dividend on Thursday, January 29th. Stockholders of record on Tuesday, February 10th will be paid a dividend of 0.165 per share on Monday, March 2nd. This represents a c) annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Tuesday, February 10th. This is a 10.0% increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.15.

Magnolia Oil & Gas has a dividend payout ratio of 30.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Magnolia Oil & Gas to earn $2.31 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 26.0%.

Magnolia Oil & Gas Trading Up 1.2%

MGY traded up $0.31 during trading hours on Thursday, reaching $25.53. 4,052,045 shares of the company’s stock traded hands, compared to its average volume of 2,395,173. The firm has a 50-day moving average price of $22.73 and a 200 day moving average price of $23.25. The firm has a market capitalization of $4.82 billion, a PE ratio of 13.41, a PEG ratio of 4.17 and a beta of 0.92. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas has a 52-week low of $19.09 and a 52-week high of $26.48.

Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results on Wednesday, October 29th. The company reported $0.41 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.41. The firm had revenue of $324.94 million during the quarter, compared to analyst estimates of $322.52 million. Magnolia Oil & Gas had a net margin of 25.90% and a return on equity of 18.10%. The business’s revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.52 earnings per share. As a group, sell-side analysts predict that Magnolia Oil & Gas will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corp (NYSE: MGY) is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties.

The company’s core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs).