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MGY - Magnolia Oil & Gas: Beat And Raise Meets Buyback And Dividend To Come
Magnolia Oil & Gas Corporation Class A
Magnolia beat Revenue, EBITDA, and EPS estimates on better than expected volumes and prices.
Management increased production guidance, bought back more shares than expected, reaffirmed the prior quarterly buyback thoughts, and again pointed to their initial dividend in 3Q21.
Estimates will rise in the wake of the quarter.
Magnolia is inexpensive in light of the strong balance sheet, their high margins, the "under-spend by design" approach to capital spending, the buyback, and the coming dividend.