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 (NYSE: MGY) is a publicly traded oil and gas exploration and production company with operations primarily in South Texas in the core of the Eagle Ford Shale and Austin Chalk formations. This news page aggregates company-issued updates and market coverage related to Magnolia’s operating and financial performance.
Investors following MGY news will find recurring coverage of quarterly and annual financial results, including net income, adjusted net income, adjusted EBITDAX, drilling and completions capital, and average daily production. Magnolia’s releases also highlight operating income as a percentage of revenue, which the company refers to as pre-tax margins, as well as free cash flow and cash balances.
Magnolia frequently announces conference calls and webcasts to discuss its quarterly results. These announcements typically provide details on call times and access instructions, along with references to supporting materials made available in the investors section of the company’s website. The news flow also includes updates on quarterly cash dividends on Class A common stock and cash distributions on Class B units, with Magnolia noting that it has paid dividends since 2021 and has grown its dividend per share payout each year.
Operational updates in Magnolia’s news releases describe production trends in its South Texas asset base, including total company production volumes, oil volumes, and contributions from the Giddings area. The company also reports on drilling and completions activity, development programs, and bolt-on acquisitions of oil and gas properties that add acreage and production to its footprint.
By reviewing this MGY news feed, readers can monitor how Magnolia communicates its capital spending discipline, production growth, free cash flow generation, and shareholder return framework over time.
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.
Magnolia Oil & Gas Corporation (NYSE: MGY) announced a public offering of 17 million shares of Class A common stock, priced to generate approximately $178.5 million for the Selling Stockholders. The offering will close on March 5, 2021, and underwriters hold a 30-day option for an additional 2.55 million shares. Concurrently, Magnolia will purchase 5 million shares of Class B common stock from the Selling Stockholders. Notably, Magnolia will not sell any shares or receive proceeds from this offering, which is made under an effective SEC registration statement.
Magnolia Oil & Gas Corporation (NYSE: MGY) has initiated an underwritten public offering of 17,000,000 shares of its Class A common stock by certain affiliates of EnerVest, Ltd. The underwriters also have a 30-day option for an additional 2,550,000 shares. Magnolia will not sell any shares or receive proceeds from this offering. Concurrently, the company plans to buy 5,000,000 shares of Class B common stock from the Selling Stockholders at the same price as the Class A shares. The offering is backed by an effective shelf registration statement.
Magnolia Oil & Gas Corporation (NYSE: MGY) reported strong fourth quarter and full year 2020 results, with a net income of $42.0 million and adjusted net income of $39.3 million. The company's total production increased 12% sequentially to 60.6 thousand barrels of oil equivalent per day (boe/d). Magnolia achieved a record production level at Giddings and repurchased 2.4 million shares. The company plans to initiate cash dividends in 2021 and aims for 5-8% production growth in 2021. Cash reserves stand at $192.6 million with no debt maturities until 2026.
Magnolia Oil & Gas Corporation (NYSE: MGY) will host a conference call and webcast to discuss its operational and financial results for Q4 and the full year 2020 on February 23 at 10:00 a.m. CT (11:00 a.m. ET). Interested parties can join the webcast via Magnolia's website or by dialing 1-844-701-1059. Financial materials will be available before the call, and a replay will be posted afterward.