Magnolia Oil & Gas Corp Stock Price, News & Analysis

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.

Magnolia Oil & Gas Corporation (NYSE: MGY) will host a conference call and webcast on February 17, 2022, at 9:00 a.m. Central Time to discuss its operational and financial results for Q4 and the full year of 2021. Interested parties can access the call via Magnolia's website or by dialing 1-844-701-1059. The company aims to provide valuable insights into its performance in the Eagle Ford Shale and Austin Chalk formations, emphasizing its focus on production growth and free cash flow generation.

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.