Magnolia Oil & Gas: Meets Cost Reduction Targets Ahead Of Schedule [Seeking Alpha]
Magnolia Oil & Gas Corporation Class A (MGY)
Last magnolia oil & gas corporation class a earnings: 2/19 04:11 pm
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Source: Seeking Alpha
Follow Summary Magnolia achieved a 10% reduction in lease operating expense in Q2 2024. It previously was targeting a 5% to 10% reduction by 2H 2024. Production growth has also been solid, driven by its Giddings assets. Magnolia has expanded its Giddings development area to over 200,000 net acres. Magnolia remains unhedged, so its projected near-term free cash flow is affected by weaker commodity prices. Looking for more investing ideas like this one? Get them exclusively at Distressed Value Investing. Learn More » mysticenergy Magnolia Oil & Gas ( NYSE: MGY ) reported solid Q2 2024 results that were slightly above expectations for total production. It has also made progress with its cost reduction efforts, bringing its lease operating expense down ahead of schedule. On the other hand, Magnolia's 2024 free cash flow is now estimated at $427 million, reduced slightly from when I looked at the company in May . This is due to weaker commodity prices (with Magnolia re
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MGY
News
- Magnolia Oil & Gas Co. (NYSE: MGY) had its price target lowered by analysts at Mizuho from $28.00 to $27.00. They now have a "neutral" rating on the stock.MarketBeat
- Magnolia Oil & Gas Co. (NYSE: MGY) had its price target lowered by analysts at JPMorgan Chase & Co. from $26.00 to $23.00. They now have a "neutral" rating on the stock.MarketBeat
- Returns on Capital Paint A Bright Future For Magnolia Oil & Gas (NYSE:MGY) [Yahoo! Finance]Yahoo! Finance
- Magnolia Oil & Gas Co. (NYSE: MGY) had its price target lowered by analysts at Susquehanna from $33.00 to $32.00. They now have a "positive" rating on the stock.MarketBeat
- Why Is Magnolia Oil & Gas Corp (MGY) Up 1.1% Since Last Earnings Report? [Yahoo! Finance]Yahoo! Finance
MGY
Earnings
- 7/31/24 - In-Line
MGY
Sec Filings
- 9/5/24 - Form 4
- 8/1/24 - Form 10-Q
- 7/31/24 - Form 8-K
- MGY's page on the SEC website