Magnolia Oil & Gas Corp Stock Price, News & Analysis

Magnolia Oil & Gas Corporation (NYSE: MGY) announced a proposed underwritten block trade of 7,500,000 shares of Class A common stock by affiliates of EnerVest, Ltd. Magnolia will not be selling any shares nor receiving proceeds from this trade. Additionally, the Company plans to purchase 2,000,000 shares of its Class B common stock from the Selling Stockholders, contingent on the completion of the Offering. Post-transaction, the Selling Stockholders will own approximately 18% of the Company’s total shares. Morgan Stanley is managing the Offering, filed under an effective SEC registration.

Magnolia Oil & Gas Corporation (NYSE: MGY) reported strong first-quarter 2022 results, achieving a net income of $208.6 million, a 128% increase year-over-year, and $0.90 earnings per share. The company generated $298.4 million in adjusted EBITDAX, with production growth of 15%, averaging 71.8 Mboe/d. Capital expenditures for drilling and completions stood at $83.4 million. Magnolia repurchased 6 million shares and paid a dividend of $0.20 per share, concluding 2021 total dividends at $0.28. Looking forward, 2022 capital expenditures are estimated at $400 million, with production growth expected to exceed 10%.

Magnolia Oil & Gas Corporation (NYSE: MGY) has rescheduled its conference call and webcast to discuss first quarter 2022 results to May 10, 2022, at 10:00 a.m. Central Time. Shareholders can join via the company’s website or by phone at 1-844-701-1059. Financial materials will be available in advance on Magnolia's Investor section. The webcast replay will also be posted after the call.

Magnolia operates in South Texas, focusing on oil and gas exploration and production, particularly in the Eagle Ford Shale and Austin Chalk formations.

Magnolia Oil & Gas Corporation (NYSE: MGY) will host a conference call and webcast on May 3, 2022, at 10:00 a.m. Central Time to discuss its operational and financial results for the first quarter. Participants can join via Magnolia’s website or by calling 1-844-701-1059. The company emphasizes its focus on steady production growth, strong pre-tax margins, and free cash flow, primarily from its operations in South Texas.

Magnolia Oil & Gas Corporation (NYSE: MGY) has announced the pricing of a block trade involving 7,500,000 shares of its Class A common stock, yielding gross proceeds of $162.9 million to selling stockholders. The offering is expected to close around March 14, 2022, subject to customary conditions. Magnolia will buy 2,500,000 shares of its Class B common stock from the selling stockholders at the same price as the Class A shares. Post-transaction, the selling stockholders will own approximately 21.9% of Magnolia's total outstanding shares.

Magnolia Oil & Gas Corporation (NYSE: MGY) has announced a proposed underwritten block trade of 7,500,000 shares of its Class A Common Stock, offered by certain affiliates of EnerVest, Ltd. Magnolia itself will not sell any shares in this Offering and will not receive any proceeds. Additionally, Magnolia intends to buy 2,500,000 shares of its Class B Common Stock from the Selling Stockholders, contingent on the Offering's completion. Following these transactions, the Selling Stockholders will hold about 21.9% of Magnolia's total outstanding shares.

Magnolia Oil & Gas Corporation (NYSE: MGY) reported strong financial results for Q4 and full-year 2021. Q4 net income reached $192.1 million, while full-year net income totaled $559.7 million. Diluted earnings per share were $0.82 for Q4 and $2.36 for the year. Production increased 15% in Q4 to 69.4 Mboe/d. The company generated $178.5 million in free cash flow in Q4, returning 65% of this to shareholders through dividends and share repurchases. The board declared a final dividend of $0.20 a share, payable March 1, 2022.

Magnolia Oil & Gas Corporation (NYSE: MGY) has approved an increase in its share repurchase authorization by an additional 10 million shares of Class A common stock, bringing the total available for repurchase to approximately 15.8 million shares. This initiative aims to return value to shareholders, complementing previous efforts that saw a reduction of 25.3 million shares in 2021. In total, $358 million was returned to shareholders last year, representing about 65% of the company's free cash flow.

Magnolia Oil & Gas Corporation (NYSE: MGY) has declared a semi-annual cash dividend of $0.20 per share for Class A common stock, and $0.20 per Class B unit, payable on March 1, 2022, with a record date of February 14, 2022. The dividend reflects the company's positive 2021 financial results based on oil prices around $55 and natural gas at $2.75. Magnolia aims for sustainable dividends backed by actual earnings, emphasizing cash return and share count reduction while pursuing production growth.