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Magnolia Oil & Gas Corp - MGY STOCK NEWS

Welcome to our dedicated news page for Magnolia Oil & Gas (Ticker: MGY), a resource for investors and traders seeking the latest updates and insights on Magnolia Oil & Gas.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Magnolia Oil & Gas's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Magnolia Oil & Gas's position in the market.

Rhea-AI Summary
Magnolia Oil & Gas Corporation (NYSE: MGY) reported its financial and operational results for Q4 and full year 2023. Despite a decline in net income, the company saw a 16% increase in average daily production in Q4. Magnolia repurchased shares and increased dividends, emphasizing a shareholder-friendly approach. The company plans to maintain disciplined capital spending and expects high single-digit production growth in 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.65%
Tags
none
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Rhea-AI Summary
Magnolia Oil & Gas Corporation (NYSE: MGY) has increased the size of its board of directors and appointed David Khani as an independent director, effective immediately. Mr. Khani brings deep industry knowledge and experience in the energy and natural resources sector, along with financial and capital markets expertise, which is expected to be a valuable asset to the company and its shareholders.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.91%
Tags
management
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Rhea-AI Summary
Magnolia Oil & Gas Corporation (NYSE: MGY) has announced a 13% increase in its quarterly dividend rate, with a cash dividend of $0.13 per share of Class A common stock, payable on March 1, 2024. This marks the third consecutive year of dividend rate increase since initiating a dividend payment in 2021. The company expects to declare its next quarterly dividend in May for payment in June. Magnolia's President and CEO, Chris Stavros, attributes the increase to the company's record of executing its strategy and improving the business in 2023, with total production growing by 9% and outstanding shares reduced by 4% through share repurchase activities. The strategy aims to deliver steady and consistent free cash flow, allowing for above-average and consistent annual dividend growth. Magnolia also emphasizes the security of its dividend at lower product prices, appealing to long-term investors who value dividend safety through commodity cycles.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.55%
Tags
dividends
Rhea-AI Summary
Magnolia Oil & Gas Corporation (NYSE: MGY) to Discuss Q4 and Full Year 2023 Results in Conference Call and Webcast
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.49%
Tags
earnings
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Rhea-AI Summary
Magnolia Oil & Gas Corporation (NYSE: MGY) reported its financial and operational results for Q3 2023. Net income decreased by 59% to $117.5 million, while earnings per share decreased by 58% to $0.54. Adjusted EBITDAX decreased by 38% to $239.0 million. Capital expenditures for drilling and completions decreased by 9% to $104.3 million. Average daily production increased by 1% to 82.7 Mboe/d. Cash balance at the end of the quarter was $618.5 million.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.45%
Tags
earnings
-
Rhea-AI Summary
Magnolia Oil & Gas Corporation (NYSE: MGY) has declared a quarterly cash dividend of $0.115 per share of Class A common stock and a cash distribution of $0.115 per Class B unit. The dividend and distribution will be paid on December 1, 2023, to shareholders of record as of November 9, 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.23%
Tags
dividends
Rhea-AI Summary
Magnolia Oil & Gas Corporation will host a conference call to discuss Q3 2023 results on November 2. Materials will be available on the website.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.46%
Tags
earnings
-
Rhea-AI Summary
Magnolia Oil & Gas to acquire oil and gas properties in Giddings for $300 million, enhancing asset quality and scale.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.84%
Tags
acquisition
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Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.59%
Tags
earnings
Rhea-AI Summary
Magnolia Oil & Gas Corporation (NYSE: MGY) declares $0.115 quarterly cash dividend for Class A common stock and Class B unit, payable on September 1, 2023, to shareholders of record as of August 10, 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.27%
Tags
dividends
Magnolia Oil & Gas Corp

NYSE:MGY

MGY Rankings

MGY Stock Data

5.30B
179.84M
1.42%
109.87%
15.73%
Crude Petroleum and Natural Gas Extraction
Mining, Quarrying, and Oil and Gas Extraction
Link
United States
Houston

About MGY

magnolia oil & gas corporation engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the united states. the company's properties are located primarily in karnes county and the giddings field in south texas principally comprising the eagle ford shale and the austin chalk formation. as of december 31, 2019, its assets consisted of a total leasehold position of 450,854 net acres, including 22,088 net acres in karnes, gonzales, dewitt, and atascosa counties, texas; 428,766 net acres in the giddings field; and approximately 1,141 net wells with a total production capacity of 66.8 thousand barrels of oil equivalent per day. the company is headquartered in houston, texas.