Magnolia Oil & Gas Corp (NYSE:MGY) Announces Quarterly Dividend of $0.18

Magnolia Oil & Gas Corp (NYSE:MGY) announced a quarterly dividend on Wednesday, July 29th. Shareholders of record on Monday, August 10th will be given a dividend of 0.18 per share on Tuesday, September 1st. This represents a c) annualized dividend and a yield of 2.9%. The ex-dividend date is Monday, August 10th. This is a 9.1% increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.17.

Magnolia Oil & Gas has a payout ratio of 33.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Magnolia Oil & Gas to earn $2.48 per share next year, which means the company should continue to be able to cover its $0.66 annual dividend with an expected future payout ratio of 26.6%.

Magnolia Oil & Gas Stock Performance

Shares of MGY stock traded up $1.60 during mid-day trading on Wednesday, reaching $25.00. The stock had a trading volume of 6,675,767 shares, compared to its average volume of 3,376,270. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.19. The business’s fifty day moving average is $26.77 and its 200-day moving average is $27.49. Magnolia Oil & Gas has a 1-year low of $21.07 and a 1-year high of $32.76. The firm has a market cap of $4.62 billion, a price-to-earnings ratio of 14.54 and a beta of 0.70.

Magnolia Oil & Gas (NYSE:MGY) last posted its earnings results on Wednesday, May 6th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. Magnolia Oil & Gas had a net margin of 24.40% and a return on equity of 16.28%. The company had revenue of $358.51 million during the quarter, compared to the consensus estimate of $349.89 million. During the same period in the previous year, the firm posted $0.54 earnings per share. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. On average, research analysts forecast that Magnolia Oil & Gas will post 2.69 earnings per share for the current 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).