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

Magnolia Oil & Gas (NYSE:MGY) posted its quarterly 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 net margin of 28.88% and a return on equity of 20.78%.

Magnolia Oil & Gas Stock Up 1.8 %

MGY opened at $23.92 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.47. The company has a market capitalization of $4.70 billion, a PE ratio of 11.84, a P/E/G ratio of 2.92 and a beta of 1.98. The stock’s fifty day moving average is $24.34 and its 200-day moving average is $25.23. Magnolia Oil & Gas has a one year low of $21.07 and a one year high of $29.02.

Magnolia Oil & Gas Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be paid a dividend of $0.15 per share. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date is Friday, February 14th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 29.70%.

Analyst Ratings Changes

A number of equities analysts have commented on MGY shares. Piper Sandler lifted their target price 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. Bank of America restated a “neutral” rating and set a $28.00 price objective (down previously from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Johnson Rice lowered shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Truist Financial lifted their price objective on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Finally, The Goldman Sachs Group lowered shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and reduced their target price for the company from $27.00 to $26.00 in a research note on Friday, January 31st. 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $27.58.

About Magnolia Oil & Gas

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.