Welcome to our dedicated page for Magnolia Oil & Gas news (Ticker: MGY), a resource for investors and traders seeking the latest updates and insights on Magnolia Oil & Gas stock.
Magnolia Oil & Gas Corporation releases updates on its role as a publicly traded oil and gas exploration and production company operating primarily in South Texas, including the Eagle Ford Shale and Austin Chalk formations. Company news typically covers quarterly and annual operating results, production volumes, commodity price realizations, drilling and completion capital, and revenue from crude oil, natural gas and NGL sales.
Recurring developments also include dividend declarations, Class A and Class B common stock repurchases, targeted asset acquisitions, capital allocation priorities, leverage policy and conference calls tied to financial results.
Magnolia Oil & Gas (NYSE: MGY) has declared a quarterly cash dividend of $0.13 per share for both Class A common stock and Class B units. The dividend will be paid on December 2, 2024, to shareholders of record as of November 8, 2024.
Magnolia Oil & Gas (NYSE: MGY) has announced a conference call and webcast to discuss its third quarter 2024 operational and financial results. The event is scheduled for Thursday, October 31 at 10:00 a.m. Central Time (11:00 a.m. Eastern Time). Interested parties can join the webcast through the company's website or by dialing 1-844-701-1059.
Materials related to Magnolia's Q3 2024 financial results will be available in the Investors section of the website prior to the call. A replay of the webcast will be posted on the company's website following the event. This announcement indicates Magnolia's commitment to transparency and shareholder communication regarding its quarterly performance.
Magnolia Oil & Gas (NYSE: MGY) reported strong Q2 2024 results, with net income of $105.1 million and adjusted EBITDAX of $246.1 million, up 21% year-over-year. Total production increased by 10% to 90.2 Mboe/d, with Giddings production growing 21% to 69.6 Mboe/d. The company maintained a disciplined capital allocation approach, spending $123.4 million on drilling and completions, about 50% of adjusted EBITDAX. Magnolia generated $96.7 million in free cash flow and returned approximately $130 million to shareholders through share repurchases and dividends. The company reaffirmed its full-year 2024 guidance, expecting high single-digit production growth with D&C capital between $450-$480 million.
Magnolia Oil & Gas (NYSE: MGY) has announced a quarterly cash dividend of $0.13 per share for its Class A common stock and a cash distribution of $0.13 per Class B unit. The dividend will be payable on September 3, 2024 to shareholders of record as of August 9, 2024. This announcement demonstrates the company's commitment to returning value to shareholders and maintaining a consistent dividend policy.
Magnolia Oil & Gas (NYSE: MGY) has announced a conference call and webcast to discuss its operational and financial results for the second quarter of 2024. The event will take place on Thursday, August 1, at 10:00 a.m. Central Time (11:00 a.m. Eastern Time). Interested parties can join the webcast by visiting Magnolia's investor relations website or by dialing 1-844-701-1059. All related materials will be available in the Investors section of the company's website before the call, and a replay of the webcast will be posted afterward.
Magnolia Oil & Gas (NYSE: MGY) announced that EnerVest affiliates will sell 12,000,000 shares of Magnolia's Class A common stock in an unregistered secondary block trade. Magnolia will not sell any of its shares or receive proceeds from this trade. Additionally, Magnolia agreed to purchase 3,000,000 shares of its Class B common stock from EnerVest at the same price received in the block trade. This purchase is contingent upon the completion of the block trade. Post-transaction, EnerVest will hold approximately 7.6% of Magnolia’s total outstanding shares.
Magnolia Oil & Gas announced its financial and operational results for the first quarter of 2024, reporting net income of $97.6 million, adjusted net income of $101.0 million, and earnings per share of $0.46. The company saw a 7% increase in average daily production, with total drilling and completions capital at $119.0 million, lower than previous guidance.
Magnolia Oil & Gas (NYSE: MGY) declared a quarterly cash dividend of $0.13 per Class A common stock share and $0.13 per Class B unit, payable on June 3, 2024, to shareholders of record as of May 13, 2024.
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