Magnolia Oil & Gas Corp (MGY) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
Magnolia Oil & Gas Corp (MGY) reported earnings 30 days ago. What's next for the stock?
Magnolia expects 5% to 7% production growth in 2025 along with low-single digits oil production growth. This is with the same capex budget as 2024, and it could generate over $400 million in free cash flow at current strip. The majority of that free cash flow is expected to go towards share repurchases.
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MGY expects $135 million capital in drilling and completion in the first quarter of 2025, with an anticipated production of 94 Mboe/d.
Magnolia Oil & Gas Corporation (NYSE:MGY ) Q4 2024 Results Conference Call February 19, 2025 11:00 AM ET Company Participants Tom Fitter - Investor Relations Chris Stavros - President & Chief Executive Officer Brian Corales - Senior Vice President & Chief Financial Officer Conference Call Participants Neal Dingmann - Truist Securities Oliver Huang - TPH Zach Parham - JPMorgan Noah Hungness - Bank of America Neil Mehta - Goldman Sachs Geoff Jay - Daniel Energy Partners Operator Good morning, everyone, and thank you for participating in Magnolia Oil & Gas Corporation's Fourth Quarter 2024 Earnings Conference Call. My name is Megan, and I will be your moderator for today's call.
Although the revenue and EPS for Magnolia Oil & Gas Corp (MGY) give a sense of how its business performed in the quarter ended December 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Magnolia Oil & Gas Corp (MGY) came out with quarterly earnings of $0.49 per share, beating the Zacks Consensus Estimate of $0.46 per share. This compares to earnings of $0.50 per share a year ago.
MGY is expected to report higher revenues and an improved bottom line in the fourth quarter, driven by increased production and effective cost management.
Magnolia Oil & Gas Corp (MGY) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Magnolia Oil & Gas Corp (MGY) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Investors need to pay close attention to Magnolia Oil & Gas (MGY) stock based on the movements in the options market lately.