Magnolia Oil & Gas Co. (NYSE:MGY) to Issue Dividend Increase – $0.15 Per Share

Magnolia Oil & Gas Co. (NYSE:MGY) declared a quarterly dividend on Monday, February 3rd,RTT News reports. Shareholders of record on Friday, February 14th will be given a dividend of 0.15 per share on Monday, March 3rd. This represents a $0.60 annualized dividend and a yield of 2.54%. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.13.

Magnolia Oil & Gas has raised its dividend payment by an average of 86.6% annually over the last three years. Magnolia Oil & Gas has a dividend payout ratio of 23.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Magnolia Oil & Gas to earn $2.05 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 25.4%.

Magnolia Oil & Gas Trading Down 0.2 %

Magnolia Oil & Gas stock opened at $23.65 on Tuesday. 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 12 month low of $19.53 and a 12 month high of $29.02. The company’s fifty day simple moving average is $25.06 and its 200-day simple moving average is $25.43. The stock has a market cap of $4.65 billion, a P/E ratio of 11.71, a P/E/G ratio of 2.98 and a beta of 1.98.

Analyst Ratings Changes

MGY has been the topic of several research analyst reports. Benchmark reissued a “hold” rating on shares of Magnolia Oil & Gas in a research note on Tuesday, October 15th. Piper Sandler increased their price objective on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Johnson Rice downgraded shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Mizuho raised their target price on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Finally, Truist Financial lifted their price objective on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Magnolia Oil & Gas presently has an average rating of “Hold” and an average price target of $27.58.

About Magnolia Oil & Gas

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.