Magnolia Oil & Gas Corp (NYSE:MGY – Get Free Report) announced a quarterly dividend on Wednesday, October 28th. Shareholders of record on Tuesday, November 10th will be given a dividend of $0.18 per share on Tuesday, December 1st. This represents a $0.72 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, November 10th.
Magnolia Oil & Gas has a dividend 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 Stock Up 0.9%
MGY opened at $26.62 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.58 and a current ratio of 1.58. The company has a market cap of $6.31 billion, a price-to-earnings ratio of 11.68 and a beta of 0.80. Magnolia Oil & Gas has a one year low of $21.07 and a one year high of $32.76. The business’s fifty day moving average is $25.79 and its two-hundred day moving average is $26.97.
Magnolia Oil & Gas (NYSE:MGY – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.06. Magnolia Oil & Gas had a return on equity of 21.04% and a net margin of 28.77%. The business had revenue of $478.81 million during the quarter, compared to analysts’ expectations of $458.10 million. During the same quarter last year, the business posted $0.41 earnings per share. The business’s revenue for the quarter was up 50.1% on a year-over-year basis. Analysts anticipate that Magnolia Oil & Gas will post 2.83 EPS 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.
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