Magnolia Oil & Gas: Q2 Earnings Insights

Shares of Magnolia Oil & Gas MGY were flat in after-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share rose 800.00% over the past year to $0.56, which beat the estimate of $0.36.

Revenue of $250,726,000 higher by 202.67% from the same period last year, which beat the estimate of $223,940,000.

Outlook

Earnings guidance hasn't been issued by the company for now.

Magnolia Oil & Gas hasn't issued any revenue guidance for the time being.

Technicals

Company's 52-week high was at $16.38

Company's 52-week low was at $4.09

Price action over last quarter: Up 15.17%

Company Description

Magnolia Oil & Gas Corp is an independent oil producer with assets located in the Eagle Ford Shale and Austin Chalk formations in South Texas. Its objective is to generate stock market value over the long term through consistent organic production growth, high full-cycle operating margins, an efficient capital program with short economic paybacks, significant free cash flow after capital expenditures, and effective reinvestment of free cash flow. Its assets are located at Karnes County and Giddings Field. The company's operating segment is acquisition, development, exploration, and production of oil and natural gas properties located in the United States.