Magnolia Oil & Gas Corp (MGY) To Go Ex-Dividend on November 10th

Magnolia Oil & Gas Corp (NYSE:MGY) announced a quarterly dividend on Tuesday, October 28th. Shareholders of record on Monday, November 10th will be given a dividend of 0.15 per share on Monday, December 1st. This represents a c) dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Monday, November 10th.

Magnolia Oil & Gas has a dividend payout ratio of 30.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Magnolia Oil & Gas to earn $2.31 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 26.0%.

Magnolia Oil & Gas Trading Up 0.9%

Shares of Magnolia Oil & Gas stock opened at $22.96 on Thursday. The company has a market capitalization of $4.38 billion, a P/E ratio of 12.02, a P/E/G ratio of 3.06 and a beta of 1.24. Magnolia Oil & Gas has a fifty-two week low of $19.09 and a fifty-two week high of $29.02. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.44 and a current ratio of 1.44. The company has a fifty day moving average of $23.88 and a 200 day moving average of $23.11.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Wednesday, July 30th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.03. The firm had revenue of $318.98 million for the quarter, compared to analysts’ expectations of $311.58 million. Magnolia Oil & Gas had a net margin of 27.57% and a return on equity of 19.34%. The business’s revenue was down 5.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.51 EPS. On average, sell-side analysts anticipate that Magnolia Oil & Gas will post 2.1 earnings per share for the current fiscal year.

Institutional Trading of Magnolia Oil & Gas

A number of institutional investors and hedge funds have recently modified their holdings of MGY. Wealth Enhancement Advisory Services LLC boosted its position in shares of Magnolia Oil & Gas by 4.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 15,470 shares of the company’s stock valued at $391,000 after purchasing an additional 715 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Magnolia Oil & Gas by 5.2% during the first quarter. Principal Financial Group Inc. now owns 2,427,952 shares of the company’s stock worth $61,330,000 after buying an additional 119,127 shares in the last quarter. Penserra Capital Management LLC lifted its holdings in shares of Magnolia Oil & Gas by 100.8% during the first quarter. Penserra Capital Management LLC now owns 36,106 shares of the company’s stock valued at $912,000 after acquiring an additional 18,126 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of Magnolia Oil & Gas by 3.7% in the first quarter. Envestnet Asset Management Inc. now owns 421,895 shares of the company’s stock valued at $10,657,000 after buying an additional 15,224 shares during the last quarter. Finally, M&T Bank Corp increased its stake in shares of Magnolia Oil & Gas by 3.6% in the 1st quarter. M&T Bank Corp now owns 26,224 shares of the company’s stock valued at $662,000 after acquiring an additional 902 shares during the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

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.