Magnolia Oil & Gas Corp Stock Price, News & Analysis

Magnolia Oil & Gas Corporation (NYSE: MGY) reported strong financial results for Q3 2021, with a net income of $159.9 million or $0.67 per share. Adjusted net income was $157.9 million, showing a robust 14% sequential increase in adjusted EBITDAX to $221.5 million. Average daily production rose to 67.4 Mboe/d, a 4% increase from the previous quarter, aided by a significant 80% year-over-year rise in Giddings production. The company repurchased 5 million shares at a cost of $78.7 million and ended Q3 with $245 million in cash, while maintaining a low debt profile.

Magnolia Oil & Gas Corporation (NYSE: MGY) has announced a conference call and webcast to discuss its third quarter 2021 operational and financial results on November 2, 2021, at 9:00 a.m. CT. Investors can participate by visiting Magnolia's website or by dialing 1-844-701-1059. The company will also post related materials prior to the call and a replay afterward. Magnolia focuses on oil and gas exploration and production, primarily in South Texas, emphasizing production growth, strong pre-tax margins, and free cash flow.

Magnolia Oil & Gas Corporation (NYSE: MGY) announced the pricing of a block trade of 7,500,000 shares of its Class A common stock, generating total gross proceeds of $122.85 million for the Selling Stockholders, EnerVest, Ltd. The closing date is expected around September 28, 2021. Concurrently, Magnolia will purchase 3,000,000 shares of its Class B common stock. Post-transaction, the Selling Stockholders will own approximately 31.5% of Magnolia's total outstanding shares.

Magnolia Oil & Gas Corporation (NYSE: MGY) announced a proposed underwritten block trade of 7,500,000 shares of Class A common stock, managed by J.P. Morgan Securities LLC. Magnolia will not sell any shares in this offering and will not receive proceeds from it. Concurrently, the company plans to purchase 3,000,000 shares of its Class B common stock from Selling Stockholders, contingent upon the completion of the offering. Post-transaction, the Selling Stockholders will hold approximately 31.5% of Magnolia's outstanding shares.

Magnolia Oil & Gas Corporation (NYSE: MGY) reported strong financial results for Q2 2021, with a net income of $116.2 million and adjusted earnings per share of $0.56. Production averaged 64.9 Mboe/d, an increase of 4% sequentially, while oil production rose 11% to 31.9 MBbl/d. Free cash flow was $134 million, supporting a share repurchase initiative reducing shares by 7%. Magnolia ended Q2 with $190.3 million in cash and plans a semi-annual dividend of $0.08 per share, demonstrating confidence in its operational strategy and asset quality.

Magnolia Oil & Gas (NYSE: MGY) declared a semi-annual cash dividend of $0.08 per share of Class A common stock and Class B units, payable on September 1, 2021 to shareholders on record as of August 12, 2021. The company assures that this level of dividend is sustainable even with oil prices being at half their previous levels. The remaining annual dividend part will be announced in February alongside the full-year 2021 financial results, reflecting their long-term pricing outlook.

Magnolia Oil & Gas Corporation (NYSE: MGY) will hold a conference call and webcast on August 3 at 10:00 a.m. Central Time to discuss its Q2 2021 operational and financial results. Investors can join via the company’s website or by calling 1-844-701-1059. Relevant materials related to the financial results will be available in advance on the website. Magnolia operates primarily in South Texas, focusing on the Eagle Ford Shale and Austin Chalk formations, aiming to generate value through production growth, strong margins, and free cash flow.

Magnolia Oil & Gas Corporation (NYSE: MGY) reported strong first quarter 2021 results with a net income of $91.5 million, translating to an earnings per share of $0.37. Adjusted net income reached $93.8 million, an increase in adjusted EBITDAX to $150.8 million, reflecting a 54% sequential rise. Average daily production climbed 3% to 62.3 Mboe/d, driven by record outputs from the Giddings area. The company anticipates a production growth of 6-9% for the full year, plans to repurchase shares, and will initiate a semi-annual dividend by Q3 2021.

Magnolia Oil & Gas Corporation (NYSE: MGY) will hold a conference call and webcast on May 5 at 10:00 a.m. CT to discuss its Q1 2021 operational and financial results. Interested parties can join the call by visiting Magnolia's website or by calling 1-844-701-1059. Financial materials related to the results will be available prior to the call, and a replay will be posted afterward. Magnolia focuses on oil and gas exploration and production in South Texas, specifically targeting the Eagle Ford Shale and Austin Chalk formations.