Magnolia Oil & Gas (MGY) Expected to Announce Quarterly Earnings on Tuesday

Magnolia Oil & Gas (NYSE:MGY) is expected to be announcing its earnings results after the market closes on Tuesday, February 18th. Analysts expect the company to announce earnings of $0.46 per share and revenue of $327.40 million for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

Magnolia Oil & Gas Stock Performance

MGY stock opened at $23.45 on Friday. The firm has a market cap of $4.61 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 2.85 and a beta of 1.98. The firm has a 50-day simple moving average of $24.38 and a two-hundred day simple moving average of $25.26. Magnolia Oil & Gas has a one year low of $20.66 and a one year high of $29.02. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.47.

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 given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.56%. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. The ex-dividend date is Friday, February 14th. Magnolia Oil & Gas’s dividend payout ratio is presently 25.74%.

Analyst Upgrades and Downgrades

MGY has been the subject of several research analyst reports. 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. Bank of America reaffirmed a “neutral” rating and issued a $28.00 price objective (down from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Piper Sandler increased 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 report on Wednesday, January 29th. Truist Financial increased 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 decreased their price objective for the company from $27.00 to $26.00 in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Magnolia Oil & Gas currently has an average rating of “Hold” and an average target price 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.