Magnolia Oil & Gas Corp (NYSE:MGY) Increases Dividend to $0.18 Per Share

Magnolia Oil & Gas Corp (NYSE:MGY) announced a quarterly dividend on Wednesday, July 29th. Shareholders of record on Monday, August 10th will be paid a dividend of 0.18 per share on Tuesday, September 1st. This represents a c) dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Monday, August 10th. This is a 9.1% increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.17.

Magnolia Oil & Gas has a dividend payout ratio of 33.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Magnolia Oil & Gas to earn $2.44 per share next year, which means the company should continue to be able to cover its $0.66 annual dividend with an expected future payout ratio of 27.0%.

Magnolia Oil & Gas Stock Up 6.9%

MGY opened at $25.00 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of 14.54 and a beta of 0.70. The business has a 50-day moving average of $26.68 and a two-hundred day moving average of $27.51. Magnolia Oil & Gas has a 12 month low of $21.07 and a 12 month high of $32.76.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. Magnolia Oil & Gas had a net margin of 24.40% and a return on equity of 16.28%. The company had revenue of $358.51 million during the quarter, compared to the consensus estimate of $349.89 million. During the same quarter in the prior year, the company posted $0.54 EPS. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, research analysts expect that Magnolia Oil & Gas will post 2.7 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Fulton Bank N.A. increased its position in shares of Magnolia Oil & Gas by 25.7% in the second quarter. Fulton Bank N.A. now owns 14,292 shares of the company’s stock worth $366,000 after acquiring an additional 2,923 shares in the last quarter. Revolve Wealth Partners LLC acquired a new position in shares of Magnolia Oil & Gas during the 2nd quarter valued at $210,000. GAMMA Investing LLC boosted its position in Magnolia Oil & Gas by 10.1% during the 2nd quarter. GAMMA Investing LLC now owns 7,572 shares of the company’s stock worth $194,000 after purchasing an additional 697 shares during the period. Harbor Investment Advisory LLC purchased a new stake in Magnolia Oil & Gas during the 2nd quarter worth $39,000. Finally, Central Pacific Bank Trust Division acquired a new stake in Magnolia Oil & Gas in the 2nd quarter valued at $149,000. 94.73% of the stock is owned by institutional investors and hedge funds.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corp (NYSE: MGY) is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties.

The company’s core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs).