- 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.
For further details see:
Magnolia Oil & Gas: Beat And Raise Meets Buyback And Dividend To Come