Magnolia Oil & Gas Corp (NYSE:MGY) Announces Quarterly Dividend of $0.17
by Teresa Graham · The Cerbat GemMagnolia Oil & Gas Corp (NYSE:MGY – Get Free Report) declared a quarterly dividend on Friday, May 1st. Shareholders of record on Tuesday, May 12th will be paid a dividend of 0.165 per share on Monday, June 1st. This represents a c) dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Tuesday, May 12th.
Magnolia Oil & Gas has a payout ratio of 33.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Magnolia Oil & Gas to earn $2.49 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 26.5%.
Magnolia Oil & Gas Price Performance
Shares of NYSE MGY traded down $0.15 during midday trading on Friday, reaching $30.10. 2,108,383 shares of the company traded hands, compared to its average volume of 2,880,725. The firm has a market cap of $5.61 billion, a PE ratio of 17.50, a PEG ratio of 2.00 and a beta of 0.83. The stock’s 50-day simple moving average is $29.53 and its 200-day simple moving average is $25.46. Magnolia Oil & Gas has a 12 month low of $20.45 and a 12 month high of $32.76. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.54 and a current ratio of 1.54.
Magnolia Oil & Gas (NYSE:MGY – Get Free Report) last posted its earnings results on Thursday, February 5th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.01. The business had revenue of $317.63 million for the quarter, compared to analyst estimates of $322.18 million. Magnolia Oil & Gas had a net margin of 24.79% and a return on equity of 16.67%. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.44 EPS. As a group, equities analysts anticipate that Magnolia Oil & Gas will post 2.64 earnings per share for the current fiscal year.
Insider Activity
In other Magnolia Oil & Gas news, CFO Brian Corales sold 33,000 shares of the firm’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $29.12, for a total value of $960,960.00. Following the completion of the sale, the chief financial officer owned 184,178 shares in the company, valued at approximately $5,363,263.36. This trade represents a 15.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Edward P. Djerejian sold 18,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $28.98, for a total transaction of $521,640.00. Following the transaction, the director owned 110,425 shares in the company, valued at $3,200,116.50. The trade was a 14.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 338,954 shares of company stock worth $9,911,733. 0.92% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. AQR Capital Management LLC boosted its position in Magnolia Oil & Gas by 77.7% in the 1st quarter. AQR Capital Management LLC now owns 56,346 shares of the company’s stock valued at $1,423,000 after buying an additional 24,631 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Magnolia Oil & Gas by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 103,109 shares of the company’s stock valued at $2,605,000 after purchasing an additional 4,512 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Magnolia Oil & Gas by 8.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 242,880 shares of the company’s stock valued at $6,135,000 after purchasing an additional 18,447 shares during the last quarter. Intech Investment Management LLC grew its position in shares of Magnolia Oil & Gas by 11.3% during the 1st quarter. Intech Investment Management LLC now owns 68,814 shares of the company’s stock worth $1,738,000 after buying an additional 7,008 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in shares of Magnolia Oil & Gas by 165.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock worth $31,000 after buying an additional 864 shares during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.
About Magnolia Oil & Gas
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).