Magnolia Oil & Gas Corp (MGY) to Distribute Quarterly Dividend of $0.18 on December 1st

Magnolia Oil & Gas Corp (NYSE:MGY) announced a quarterly dividend on Wednesday, October 28th. Stockholders of record on Tuesday, November 10th will be paid a dividend of $0.18 per share on Tuesday, December 1st. This represents a $0.72 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Tuesday, November 10th.

Magnolia Oil & Gas has a payout ratio of 36.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Magnolia Oil & Gas to earn $2.82 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 25.5%.

Magnolia Oil & Gas Trading Up 0.6%

Shares of Magnolia Oil & Gas stock opened at $23.66 on Friday. Magnolia Oil & Gas has a 12-month low of $21.07 and a 12-month high of $32.76. The company has a market cap of $5.61 billion, a price-to-earnings ratio of 10.61 and a beta of 0.72. The company has a current ratio of 0.51, a quick ratio of 1.58 and a debt-to-equity ratio of 0.46. The company’s 50-day moving average price is $25.44 and its 200-day moving average price is $27.04.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings data on Wednesday, November 4th. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.13. The company had revenue of $513.89 million during the quarter, compared to analyst estimates of $474.39 million. Magnolia Oil & Gas had a net margin of 25.82% and a return on equity of 19.90%. Magnolia Oil & Gas’s revenue was up 58.2% compared to the same quarter last year. During the same period last year, the business earned $0.42 earnings per share. On average, equities analysts expect that Magnolia Oil & Gas will post 2.85 earnings per share for the current fiscal year.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corporation (NYSE: MGY) is an independent oil and natural gas exploration and production company focused on developing assets in South Texas. Its operations are concentrated in the Eagle Ford Shale and Austin Chalk formations, where it owns and operates a substantial acreage position.

The company produces crude oil, condensate, natural gas liquids and natural gas. Magnolia uses horizontal drilling and hydraulic fracturing technologies to develop unconventional reserves, with activity primarily centered in the Karnes and Giddings areas of South Texas.

Magnolia Oil & Gas was formed in 2017 through a business combination involving Silver Run Acquisition Corporation II and certain oil and gas assets previously associated with TGP Investments.