Magnolia Oil & Gas Corp (NYSE:MGY) Shares to Pay Quarterly Dividend of $0.18

Magnolia Oil & Gas Corp (NYSE:MGY) 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 is Tuesday, November 10th.

Magnolia Oil & Gas has a payout ratio of 36.7% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

MGY opened at $26.62 on Thursday. The company has a fifty day moving average price of $25.79 and a two-hundred day moving average price of $26.97. The firm has a market capitalization of $6.31 billion, a PE ratio of 11.68 and a beta of 0.80. Magnolia Oil & Gas has a 52 week low of $21.07 and a 52 week high of $32.76. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.58 and a current ratio of 1.58.

Magnolia Oil & Gas (NYSE:MGY) last posted 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 company had revenue of $478.81 million for the quarter, compared to the consensus estimate of $458.10 million. During the same quarter in the prior year, the business posted $0.41 EPS. The firm’s quarterly revenue was up 50.1% on a year-over-year basis. As a group, analysts anticipate that Magnolia Oil & Gas will post 2.83 earnings per share for the current year.

Magnolia Oil & Gas Company Profile

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.