Magnolia Oil & Gas initiated with a Buy at Seibert Williams » 06:3704/0504/05/21
Seibert Williams analyst…
Seibert Williams analyst Gabriele Sorbara initiated coverage of Magnolia Oil & Gas with a Buy rating and $14 price target.
|Over a week ago|
Magnolia Oil & Gas reinstated with a Neutral at Citi » 06:2503/1103/11/21
Citi analyst Brian Downey…
Citi analyst Brian Downey reinstated coverage of Magnolia Oil & Gas with a Neutral rating and $13 price target following last week's secondary offering for selling stockholders.
|Over a month ago|
Magnolia Oil & Gas falls -6.8% » 09:4703/0303/03/21
Magnolia Oil & Gas is…
Magnolia Oil & Gas is down -6.8%, or -81c to $11.04.
Fly Intel: Pre-market Movers » 08:5703/0303/03/21
OVID, TAK, KMPH, TRXC, DY, WEN, DLTR, OSW, MGY, COHN, ASXC
Check out this morning's…
Magnolia Oil & Gas 17M share Spot Secondary priced at $10.50 » 19:3303/0203/02/21
The deal prices at low…
The deal prices at low end of $10.50-$11.00 range. Credit Suisse and Citi are acting as joint book running managers for the offering.
Magnolia Oil & Gas files to sell 17M shares of common stock for holders » 16:0703/0203/02/21
Magnolia Oil & Gas…
Magnolia Oil & Gas announced that it has commenced an underwritten public offering (the "Offering") of an aggregate 17,000,000 shares of the Company's Class A common stock by certain affiliates of EnerVest, Ltd. Credit Suisse Securities and Citigroup are acting as the book-running managers for the Offering.
Magnolia Oil & Gas sees spending 50%-60% of 2021 EBITDA on drilling » 16:3702/2202/22/21
For 2021, Magnolia…
For 2021, Magnolia expects to spend approximately 50% to 60% of our adjusted EBITDAX for drilling and completing wells, which is consistent with our business model. Should product prices remain at current levels, we estimate our capital spending to be in the lower half of the expected range. The 2021 activity plan consists of operating a one rig program at Giddings, drilling multi-well pads primarily in our initial core area. In the Karnes area, we plan to complete 10 drilled but uncompleted wells ("DUCs"), most of which should be brought online during the first half of the year. Non-operated activity at Karnes is expected to increase compared to the 2020 levels. Our 2021 capital and activity plan is expected to deliver mid-single digit production growth on a year-over-year basis. Looking at the first quarter of 2021, D&C capital should be approximately 50% of our adjusted EBITDAX, at elevated product prices. Operated activity will continue to focus on Giddings and, we expect to begin completing some of the Karnes DUCs in the latter part of the quarter. Production in the first quarter of 2021 is forecast to be relatively flat compared to fourth quarter levels, which incorporates a rough estimate of recent cold weather-related outages in the field. Oil price differentials are anticipated to be roughly a $3 per barrel discount to Magellan East Houston ("MEH") during the first quarter.
Magnolia Oil & Gas reports Q4 adjusted EPS 15c, consensus 10c » 16:3602/2202/22/21
Reports Q4 revenue…
Reports Q4 revenue $149.24M, consensus $143.06M. "Magnolia ended 2020 with very strong fourth quarter operational and financial performance. Despite last year's challenging environment, our policy of low financial leverage, commitment to capital discipline and high-quality assets allowed us to exit 2020 in better shape than when we entered," said Magnolia Chairman, President and CEO, Steve Chazen. "We increased our quarterly production by nearly 12% sequentially while spending only 40% of our adjusted EBITDAX and, repurchasing 2.4 million Magnolia shares or roughly 1% of the outstanding shares. We achieved all this while building our year-end cash position to more than $190 million."
Cooperman's Omega Advisors buys GM, exits Lee in Q4 » 12:5502/1602/16/21
GM, WSC, CMCSA, BGS, ORCC, LEE, MP, COOP, ATH, ET, STKL, AMCX, SRGA, MGY, FISV, GOOGL, CI, TRN
Leon Cooperman's Omega Advisors disclosed in an SEC filing its holdings as of December 31, 2020. The fund's seven new buys during the fourth quarter included, by size of position, General Motors (GM), WillScot Mobile Mini (WSC), Comcast Class A (CMCSA), B&G foods (BGS), and Owl Rock Capital (ORCC). Omega exited two positions during the quarter, including by size of previous position Lee Enterprises (LEE). The fund increased its stake in twelve holdings, including by size of previous position MP Materials (MP), Mr Cooper Group (COOP), Athene Holding (ATH), Energy Transfer LP (ET), and SunOpta (STKL). Omega reducsed its stake in five holdings, including by size of previous position AMC Networks (AMCX), Surgalign Holdings (SRGA), and Magnolia Oil & Gas (MGY). The fund's top holdings as of December 31, in order of size, were Mr Cooper, Fiserv (FISV), Alphabet Class A (GOOGL), Cigna (CI), and Trinity Industries (TRN).
|Over a quarter ago|
Magnolia Oil & Gas downgraded to Neutral from Buy at MKM Partners » 07:4311/3011/30/20
MKM Partners analyst John…
MKM Partners analyst John Gerdes downgraded Magnolia Oil & Gas to Neutral from Buy with a higher price target of $7, up from $6. The analyst notes that that stock has appreciated nearly 70% since early November and now reflects his "fair value". Gerdes adds that his new price target is driven by the modestly lower Giddings field capital intensity, which is partly being offset by Magnolia's lower liquids composition.