Magnolia Oil & Gas (NYSE:MGY) Issues Quarterly Earnings Results

Magnolia Oil & Gas (NYSE:MGY) posted its earnings results on Tuesday. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03, Zacks reports. Magnolia Oil & Gas had a return on equity of 20.85% and a net margin of 27.82%. The business had revenue of $326.61 million during the quarter, compared to analysts’ expectations of $327.40 million.

Magnolia Oil & Gas Stock Up 0.7 %

Shares of NYSE MGY traded up $0.17 during midday trading on Thursday, hitting $24.41. 167,773 shares of the stock traded hands, compared to its average volume of 1,874,505. The company has a market cap of $4.80 billion, a PE ratio of 12.60, a P/E/G ratio of 2.96 and a beta of 1.98. The business has a 50 day moving average price of $24.26 and a two-hundred day moving average price of $25.22. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.47. Magnolia Oil & Gas has a one year low of $21.49 and a one year high of $29.02.

Magnolia Oil & Gas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be paid a $0.15 dividend. The ex-dividend date is Friday, February 14th. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a dividend yield of 2.46%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 31.09%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Bank of America reaffirmed a “neutral” rating and issued a $28.00 price objective (down from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Mizuho upped their price objective on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, December 16th. The Goldman Sachs Group cut shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and cut their target price for the stock from $27.00 to $26.00 in a research note on Friday, January 31st. Johnson Rice lowered shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Finally, Piper Sandler boosted their price target on Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $27.58.

Magnolia Oil & Gas Company Profile

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.