Magnolia's Q3 2024 total production was in-line with expectations despite some third-party midstream issues. Magnolia's oil production has been tracking a bit above expectations, and it now should finish 2024 with low-double digits growth compared to 2023. Magnolia's recent note offering pushes its note maturity to 2032, and it has no credit facility debt and more than $250 million in cash on hand.
Magnolia Oil & Gas Corp (MGY) reported earnings 30 days ago. What's next for the stock?
Magnolia Oil and Gas, a $5.4 billion market cap company that produces from fields in south and southeast Texas, pays a 1.9% dividend and is buying back shares. Although it could be a takeover candidate, Magnolia is ranked a hold because it's at the top of its 52-week range, pays a small dividend, and has non-trivial short interest. The company is well-operated and conservatively run, with relatively little debt and a focus on oil production.
MGY expects $125 million capital in drilling and completion in the fourth quarter of 2024, with an anticipated production of 93 Mboe/d.
Magnolia Oil & Gas Corporation (NYSE:MGY ) Q3 2024 Earnings Conference Call October 31, 2024 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 Phillips Johnston - Capital One Oliver Huang - Tudor, Pickering, Holt Noah Hungness - Bank of America Neil Mehta - Goldman Sachs Tim Rezvan - KeyBanc Capital Markets Sean Mitchell - Daniel Energy Partners Operator Good morning, everyone and thank you for participating in Magnolia Oil & Gas Corporation's Third Quarter 2024 Earnings Conference Call. My name is Cindy, and I will be your moderator for today's call.
Magnolia Oil & Gas Corp (MGY) came out with quarterly earnings of $0.52 per share, beating the Zacks Consensus Estimate of $0.48 per share. This compares to earnings of $0.54 per share a year ago.
Magnolia Oil & Gas Corp (MGY) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Magnolia Oil & Gas Corp (MGY) reported earnings 30 days ago. What's next for the stock?
Magnolia (MGY) plans to invest $120 million in drilling and completion in the third quarter of 2024, with an anticipated production of 91,000 barrels of oil equivalent per day.
Magnolia Oil & Gas Corporation (NYSE:MGY ) Q2 2024 Earnings Conference Call August 1, 2024 11:00 AM ET Company Participants Tom Fitter - IR Christopher Stavros - President and CEO Brian Corales - SVP and CFO Conference Call Participants Neal Dingmann - SunTrust Phillips Johnston - Capital One Zachary Parham - JPMorgan Carlos Escalante - Wolfe Research. Oliver Huang - Tudor Pickering Holton Company Noah Hungness - Bank of America Paul Diamond - Citi Operator Good morning, everyone, and thank you for participating in Magnolia Oil & Gas Corporation's Second Quarter 2024 Earnings Conference Call.
Magnolia Oil & Gas Corp (MGY) came out with quarterly earnings of $0.56 per share, beating the Zacks Consensus Estimate of $0.51 per share. This compares to earnings of $0.44 per share a year ago.
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.