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

Magnolia Oil & Gas (NYSE:MGY) issued its earnings results on Tuesday. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03, Zacks reports. Magnolia Oil & Gas had a return on equity of 20.78% and a net margin of 28.88%.

Magnolia Oil & Gas Stock Performance

Magnolia Oil & Gas stock traded up $0.42 during trading on Tuesday, hitting $23.92. The stock had a trading volume of 3,350,403 shares, compared to its average volume of 1,868,193. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.20. The stock’s 50 day moving average is $24.34 and its two-hundred day moving average is $25.23. Magnolia Oil & Gas has a 1 year low of $21.07 and a 1 year high of $29.02. The stock has a market cap of $4.70 billion, a price-to-earnings ratio of 11.84, a price-to-earnings-growth ratio of 2.85 and a beta of 1.98.

Magnolia Oil & Gas Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.60 annualized dividend and a dividend yield of 2.51%. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 25.74%.

Analyst Ratings Changes

A number of research firms have weighed in on MGY. Mizuho lifted 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. Johnson Rice downgraded Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Truist Financial increased their price objective on Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Bank of America reaffirmed a “neutral” rating and set a $28.00 target price (down previously from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Finally, Piper Sandler raised their price objective 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 investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Magnolia Oil & Gas has an average rating of “Hold” and a consensus 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.