Magnolia Oil & Gas Corporation engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. The company's properties are located primarily in Karnes County and the Giddings Field in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation. As of December 31, 2020, its assets consisted of a total leasehold position of 460,398 net acres, including 23,513 net acres in Karnes, Gonzales, DeWitt, and Atascosa counties, Texas; 436,885 net acres in the Giddings Field located in Austin, Brazos, Burleson, Fayette, Lee, Grimes, Montgomery, and Washington Counties, Texas; and approximately 1,160 net wells with a total production capacity of 61.8 thousand barrels of oil equivalent per day. The company is headquartered in Houston, Texas.
IPO Year: 2017
Exchange: NYSE
Website: magnoliaoilgas.com
Date | Price Target | Rating | Analyst |
---|---|---|---|
10/15/2024 | $30.00 | Buy → Hold | Siebert Williams Shank |
10/1/2024 | $26.00 → $22.00 | Equal Weight → Underweight | Wells Fargo |
7/18/2024 | $32.00 | Outperform | Wolfe Research |
4/19/2024 | $29.00 | Overweight → Neutral | Piper Sandler |
2/27/2024 | $25.00 | Buy | BofA Securities |
12/11/2023 | $24.00 → $18.00 | Neutral → Sell | Citigroup |
11/15/2023 | $23.00 | Equal Weight | Wells Fargo |
8/16/2023 | $28.00 → $25.00 | Buy → Neutral | Mizuho |
8/10/2023 | Overweight → Sector Weight | KeyBanc Capital Markets | |
1/10/2023 | $32.00 | Buy | Mizuho |
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Magnolia Oil & Gas Operating LLC ("Magnolia Operating") and Magnolia Oil & Gas Finance Corp., a subsidiary of Magnolia Operating, ("Finance Corp." and, together with Magnolia Operating, the "Issuers") announced today the pricing of their previously announced private offering (the "Notes Offering") of $400 million in aggregate principal amount of 6.875% senior unsecured notes due 2032 (the "Notes"). The closing of the Notes Offering is expected to occur on November 26, 2024, and is conditioned upon the satisfaction of customary closing conditions. The Issuers intend to use the net proceeds from the offering to repurchase and redeem the outstanding 6.00% Senior Notes due 2026 (the "2026 Not
Magnolia Oil & Gas Operating LLC ("Magnolia Operating") and Magnolia Oil & Gas Finance Corp., a subsidiary of Magnolia Operating, ("Finance Corp." and, together with Magnolia Operating, the "Issuers") announced today that they intend to offer, subject to market conditions and other factors, $400 million in aggregate principal amount of senior unsecured notes due 2032 (the "Notes") in a private placement to eligible purchasers (the "Notes Offering"), subject to market conditions. The Issuers intend to use the net proceeds from the offering to repurchase and redeem the outstanding 6.00% Senior Notes due 2026 (the "2026 Notes") in full. The Notes have not been registered under the Securiti
Magnolia Oil & Gas Corporation ("Magnolia," "we," "our," or the "Company") (NYSE:MGY) today announced its financial and operational results for the third quarter of 2024. Third Quarter 2024 Highlights: (In millions, except per share data) For the Quarter Ended September 30, 2024 For the Quarter Ended September 30, 2023 Percentage increase (decrease) Net income $ 105.9 $ 117.5 (10 )% Adjusted net income(1) $ 100.3 $ 117.5 (15 )% Earnings per share - diluted $ 0.52 $ 0.54 (4 )% Adjusted EBITDAX(1) $ 243.6 $ 239.0 2 % Capital expenditures - D&C $ 103.1 $ 104.3 (1
Magnolia Oil & Gas Corporation (NYSE:MGY) announced today that its Board of Directors has declared a quarterly cash dividend of $0.13 per share of Class A common stock, and a cash distribution of $0.13 per Class B unit, payable on December 2, 2024 to shareholders of record as of November 8, 2024. About Magnolia Oil & Gas Magnolia (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. Magnolia focuses on generating value for shareholders by delivering steady, moderate annual production growth resulting from its disciplined and efficient philosophy toward capital spen
Magnolia Oil & Gas Corporation (NYSE:MGY) will host a conference call and webcast to discuss operational and financial results for the third quarter 2024 on Thursday, October 31 at 10:00 a.m. Central Time (11:00 a.m. Eastern Time). Join the webcast by visiting Magnolia's website at www.magnoliaoilgas.com/investors/events-and-presentations and clicking on the webcast link or by dialing 1-844-701-1059. Materials related to Magnolia's third quarter 2024 financial results to be discussed during the webcast will be made available in the Investors section of the website prior to the call. The company will post a replay of the webcast on its website following the call. About Magnolia Oil & Gas
Magnolia Oil & Gas Corporation ("Magnolia," "we," "our," or the "Company") (NYSE:MGY) today announced its financial and operational results for the second quarter of 2024. Second Quarter 2024 Highlights: (In millions, except per share data) For the Quarter Ended June 30, 2024 For the Quarter Ended June 30, 2023 Percentage increase (decrease) Net income $ 105.1 $ 104.6 — % Adjusted net income(1) $ 104.3 $ 97.2 7 % Earnings per share - diluted $ 0.51 $ 0.48 6 % Adjusted EBITDAX(1) $ 246.1 $ 2
Magnolia Oil & Gas Corporation (NYSE:MGY) announced today that its Board of Directors has declared a quarterly cash dividend of $0.13 per share of Class A common stock, and a cash distribution of $0.13 per Class B unit, payable on September 3, 2024 to shareholders of record as of August 9, 2024. About Magnolia Oil & Gas Magnolia (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. Magnolia focuses on generating value for shareholders by delivering steady, moderate annual production growth resulting from its disciplined and efficient philosophy toward capital spe
Magnolia Oil & Gas Corporation (NYSE:MGY) will host a conference call and webcast to discuss operational and financial results for the second quarter 2024 on Thursday, August 1 at 10:00 a.m. Central Time (11:00 a.m. Eastern Time). Join the webcast by visiting Magnolia's website at www.magnoliaoilgas.com/investors/events-and-presentations and clicking on the webcast link or by dialing 1-844-701-1059. Materials related to Magnolia's second quarter 2024 financial results to be discussed during the webcast will be made available in the Investors section of the website prior to the call. The company will post a replay of the webcast on its website following the call. About Magnolia Oil & Gas
Magnolia Oil & Gas Corporation (NYSE:MGY) ("Magnolia" or the "Company"), today announced that certain affiliates of EnerVest, Ltd. (the "Selling Stockholders") agreed to sell 12,000,000 shares of the Company's Class A common stock (the "Class A Common Stock") in an unregistered secondary block trade pursuant to Rule 144 under the Securities Act of 1933, as amended (the "Block Trade"). The Company will not sell any shares of its Class A Common Stock in the Block Trade or receive any proceeds from the Block Trade. The Company has agreed to purchase from the Selling Stockholders 3,000,000 shares of the Company's Class B common stock (the "Class B Common Stock") at a price per share equal to
Magnolia Oil & Gas Corporation ("Magnolia," "we," "our," or the "Company") (NYSE:MGY) today announced its financial and operational results for the first quarter of 2024. First Quarter 2024 Highlights: (In millions, except per share data) For the Quarter Ended March 31, 2024 For the Quarter Ended March 31, 2023 Percentage increase (decrease) Net income $ 97.6 $ 106.7 (9 )% Adjusted net income(1) $ 101.0 $ 119.3 (15 )% Earnings per share - diluted $ 0.46 $ 0.50 (8 )% Adjusted EBITDAX(1) $ 227.8
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B of A Securities analyst Noah Hungness maintains Magnolia Oil & Gas (NYSE:MGY) with a Buy and raises the price target from $28 to $29.
Truist Securities analyst Neal Dingmann maintains Magnolia Oil & Gas (NYSE:MGY) with a Buy and lowers the price target from $35 to $34.
Susquehanna analyst Biju Perincheril maintains Magnolia Oil & Gas (NYSE:MGY) with a Positive and raises the price target from $31 to $33.
Wolfe Research analyst Doug Leggate initiates coverage on Magnolia Oil & Gas (NYSE:MGY) with a Outperform rating.
During the last three months, 4 analysts shared their evaluations of Magnolia Oil & Gas (NYSE:MGY), revealing diverse outlooks from bullish to bearish. In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 1 2 1 0 0 Last 30D 0 0 0 0 0 1M Ago 0 0 0 0 0 2M Ago 1 1 0 0 0 3M Ago 0 1 1 0 0 Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $30.5, along with a high estimate of $35.00 and a low estimate of $28.00. Marking an increase of
Benchmark analyst Subash Chandra reiterates Magnolia Oil & Gas (NYSE:MGY) with a Hold.
Capital One analyst Phillips Johnston initiates coverage on Magnolia Oil & Gas (NYSE:MGY) with a Overweight rating and announces Price Target of $28.
In the preceding three months, 8 analysts have released ratings for Magnolia Oil & Gas (NYSE:MGY), presenting a wide array of perspectives from bullish to bearish. The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 2 1 4 0 1 Last 30D 1 0 0 0 0 1M Ago 0 0 1 0 0 2M Ago 0 1 2 0 1 3M Ago 1 0 1 0 0 Analysts have recently evaluated Magnolia Oil & Gas and provided 12-month price targets. The average target is $28.25, accompanied by a high estimate of $35.00 and a low estimate of $22.
Truist Securities analyst Neal Dingmann maintains Magnolia Oil & Gas (NYSE:MGY) with a Buy and raises the price target from $33 to $35.
Following the closing of the Block Trade and Class B Common Stock Purchase, the Selling Stockholders will own 4.16 million Class A and 10.957 million Class B shares of the Company, or approximately 7.6% of the total outstanding shares of the Company. The Company has agreed to purchase from the Selling Stockholders 3 million shares of the Company's Class B common stock at a price per share equal to the price per share that the Selling Stockholders receive in the Block Trade.
NEW YORK, March 1, 2024 /PRNewswire/ -- S&P Dow Jones Indices ("S&P DJI") will make the following changes to the S&P 500, S&P 100, S&P MidCap 400, and S&P SmallCap 600 indices effective prior to the open of trading on Monday, March 18, to coincide with the quarterly rebalance. The changes ensure each index is more representative of its market capitalization range. All companies being added to the S&P 500 are more representative of the large-cap market space, all companies being added to the S&P MidCap 400 are more representative of the mid-cap market space, and all companies being added to the S&P SmallCap 600 are more representative of the small-cap market space. The companies being removed
Magnolia Oil & Gas Corporation ("Magnolia," "we," "our," or the "Company") (NYSE:MGY) today announced that its board of directors (the "Board") has increased the size of the Board from seven to eight directors and has appointed David Khani as an independent director of the Board, effective immediately. Mr. Khani will serve as a member of the Audit Committee. "We are very honored to welcome Dave to our Board of Directors," said Dan Smith, Chairman of the Board. "Dave's deep industry knowledge and experience across the energy and natural resources spectrum, coupled with his financial and capital markets expertise, will be a valuable asset to Magnolia and our shareholders." Mr. Khani serve
Magnolia Oil & Gas Corporation ("Magnolia" or the "Company") (NYSE:MGY) today announced that Christopher Stavros, the Company's current Executive Vice President and Chief Financial Officer, has been named President and Chief Executive Officer, and has been appointed to the Board of Directors, effective immediately. Stephen Chazen, who has served as Chairman, President and Chief Executive Officer since 2018 will no longer be able to serve in his positions due to serious health reasons. "First and foremost, we would like to extend our deep support to Steve's family," said Dan Smith, who previously served as Magnolia's Lead Independent Director and has been named as Chairman of the Board. "St
Magnolia Oil & Gas Corporation ("Magnolia," "we," "our," or the "Company") (NYSE:MGY) today announced its financial and operational results for the third quarter of 2024. Third Quarter 2024 Highlights: (In millions, except per share data) For the Quarter Ended September 30, 2024 For the Quarter Ended September 30, 2023 Percentage increase (decrease) Net income $ 105.9 $ 117.5 (10 )% Adjusted net income(1) $ 100.3 $ 117.5 (15 )% Earnings per share - diluted $ 0.52 $ 0.54 (4 )% Adjusted EBITDAX(1) $ 243.6 $ 239.0 2 % Capital expenditures - D&C $ 103.1 $ 104.3 (1
Magnolia Oil & Gas Corporation (NYSE:MGY) announced today that its Board of Directors has declared a quarterly cash dividend of $0.13 per share of Class A common stock, and a cash distribution of $0.13 per Class B unit, payable on December 2, 2024 to shareholders of record as of November 8, 2024. About Magnolia Oil & Gas Magnolia (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. Magnolia focuses on generating value for shareholders by delivering steady, moderate annual production growth resulting from its disciplined and efficient philosophy toward capital spen
Magnolia Oil & Gas Corporation (NYSE:MGY) will host a conference call and webcast to discuss operational and financial results for the third quarter 2024 on Thursday, October 31 at 10:00 a.m. Central Time (11:00 a.m. Eastern Time). Join the webcast by visiting Magnolia's website at www.magnoliaoilgas.com/investors/events-and-presentations and clicking on the webcast link or by dialing 1-844-701-1059. Materials related to Magnolia's third quarter 2024 financial results to be discussed during the webcast will be made available in the Investors section of the website prior to the call. The company will post a replay of the webcast on its website following the call. About Magnolia Oil & Gas
Magnolia Oil & Gas Corporation ("Magnolia," "we," "our," or the "Company") (NYSE:MGY) today announced its financial and operational results for the second quarter of 2024. Second Quarter 2024 Highlights: (In millions, except per share data) For the Quarter Ended June 30, 2024 For the Quarter Ended June 30, 2023 Percentage increase (decrease) Net income $ 105.1 $ 104.6 — % Adjusted net income(1) $ 104.3 $ 97.2 7 % Earnings per share - diluted $ 0.51 $ 0.48 6 % Adjusted EBITDAX(1) $ 246.1 $ 2
Magnolia Oil & Gas Corporation (NYSE:MGY) announced today that its Board of Directors has declared a quarterly cash dividend of $0.13 per share of Class A common stock, and a cash distribution of $0.13 per Class B unit, payable on September 3, 2024 to shareholders of record as of August 9, 2024. About Magnolia Oil & Gas Magnolia (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. Magnolia focuses on generating value for shareholders by delivering steady, moderate annual production growth resulting from its disciplined and efficient philosophy toward capital spe
Magnolia Oil & Gas Corporation (NYSE:MGY) will host a conference call and webcast to discuss operational and financial results for the second quarter 2024 on Thursday, August 1 at 10:00 a.m. Central Time (11:00 a.m. Eastern Time). Join the webcast by visiting Magnolia's website at www.magnoliaoilgas.com/investors/events-and-presentations and clicking on the webcast link or by dialing 1-844-701-1059. Materials related to Magnolia's second quarter 2024 financial results to be discussed during the webcast will be made available in the Investors section of the website prior to the call. The company will post a replay of the webcast on its website following the call. About Magnolia Oil & Gas
Magnolia Oil & Gas Corporation ("Magnolia," "we," "our," or the "Company") (NYSE:MGY) today announced its financial and operational results for the first quarter of 2024. First Quarter 2024 Highlights: (In millions, except per share data) For the Quarter Ended March 31, 2024 For the Quarter Ended March 31, 2023 Percentage increase (decrease) Net income $ 97.6 $ 106.7 (9 )% Adjusted net income(1) $ 101.0 $ 119.3 (15 )% Earnings per share - diluted $ 0.46 $ 0.50 (8 )% Adjusted EBITDAX(1) $ 227.8
Magnolia Oil & Gas Corporation (NYSE:MGY) announced today that its Board of Directors has declared a quarterly cash dividend of $0.13 per share of Class A common stock, and a cash distribution of $0.13 per Class B unit, payable on June 3, 2024 to shareholders of record as of May 13, 2024. About Magnolia Oil & Gas Magnolia (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. Magnolia focuses on generating value for shareholders by delivering steady, moderate annual production growth resulting from its disciplined and efficient philosophy toward capital spending.
Magnolia Oil & Gas Corporation (NYSE:MGY) will host a conference call and webcast to discuss operational and financial results for the first quarter 2024 on Wednesday, May 8 at 10:00 a.m. Central Time (11:00 a.m. Eastern Time). Join the webcast by visiting Magnolia's website at www.magnoliaoilgas.com/investors/events-and-presentations and clicking on the webcast link or by dialing 1-844-701-1059. Materials related to Magnolia's first quarter 2024 financial results to be discussed during the webcast will be made available in the Investors section of the website prior to the call. The company will post a replay of the webcast on its website following the call. About Magnolia Oil & Gas M
Magnolia Oil & Gas Corporation ("Magnolia," "we," "our," or the "Company") (NYSE:MGY) today announced its financial and operational results for the fourth quarter and full year 2023. Fourth Quarter 2023 Summary Financial Results: (In millions, except per share data) For the Quarter Ended December 31, 2023 For the Quarter Ended December 31, 2022 Percentage increase (decrease) Average daily production (Mboe/d) 85.4 73.8 16 % Net income $ 113.9 $ 254.8 (55 )% Earnings per share - diluted 0.53
Siebert Williams Shank downgraded Magnolia Oil & Gas from Buy to Hold and set a new price target of $30.00
Wells Fargo downgraded Magnolia Oil & Gas from Equal Weight to Underweight and set a new price target of $22.00 from $26.00 previously
Wolfe Research initiated coverage of Magnolia Oil & Gas with a rating of Outperform and set a new price target of $32.00
Piper Sandler downgraded Magnolia Oil & Gas from Overweight to Neutral and set a new price target of $29.00
BofA Securities initiated coverage of Magnolia Oil & Gas with a rating of Buy and set a new price target of $25.00
Citigroup downgraded Magnolia Oil & Gas from Neutral to Sell and set a new price target of $18.00 from $24.00 previously
Wells Fargo initiated coverage of Magnolia Oil & Gas with a rating of Equal Weight and set a new price target of $23.00
Mizuho downgraded Magnolia Oil & Gas from Buy to Neutral and set a new price target of $25.00 from $28.00 previously
KeyBanc Capital Markets downgraded Magnolia Oil & Gas from Overweight to Sector Weight
Mizuho initiated coverage of Magnolia Oil & Gas with a rating of Buy and set a new price target of $32.00
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