Magnolia Oil & Gas (NYSE:MGY) Posts Earnings Results, Beats Estimates By $0.03 EPS

Magnolia Oil & Gas (NYSE:MGY) posted its quarterly earnings data on Tuesday. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03, Zacks reports. The firm had revenue of $326.61 million during the quarter, compared to analysts’ expectations of $327.40 million. Magnolia Oil & Gas had a return on equity of 20.85% and a net margin of 27.82%.

Magnolia Oil & Gas Stock Performance

Shares of Magnolia Oil & Gas stock traded up $0.17 during midday trading on Thursday, hitting $24.41. The company had a trading volume of 167,773 shares, compared to its average volume of 1,874,505. Magnolia Oil & Gas has a 1-year low of $21.49 and a 1-year high of $29.02. The business’s 50 day simple moving average is $24.26 and its two-hundred day simple moving average is $25.22. The stock has a market cap of $4.80 billion, a PE ratio of 12.60, a P/E/G ratio of 2.96 and a beta of 1.98. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.47 and a quick ratio of 1.47.

Magnolia Oil & Gas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be given a dividend of $0.15 per share. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.60 dividend on an annualized basis and a yield of 2.46%. Magnolia Oil & Gas’s payout ratio is currently 31.09%.

Wall Street Analysts Forecast Growth

MGY has been the subject of a number of research analyst reports. Piper Sandler upped their price objective on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Truist Financial lifted their target price on Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “buy” rating in a report on Monday, January 13th. The Goldman Sachs Group lowered Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $27.00 to $26.00 in a research note on Friday, January 31st. Bank of America reiterated a “neutral” rating and set a $28.00 target price (down previously from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. Finally, Johnson Rice lowered shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a report on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Magnolia Oil & Gas presently has a consensus rating of “Hold” and an average price target 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.