Nucor earnings beat by $0.08, revenue fell short of estimates
In a recent transaction, Stavros Christopher G, the CEO and Director of Magnolia Oil & Gas Corp (NYSE:MGY), acquired 2,500 shares of the company’s Class A Common Stock. The shares were purchased at an average price of $22.055 each, totaling approximately $55,137. Following this transaction, Stavros now holds 892,372 shares directly. This move reflects the executive’s continued investment in the company, which is based in Houston, Texas. The stock is currently trading near its 52-week low, and InvestingPro analysis indicates the stock may be undervalued, with additional insights available in the comprehensive Pro Research Report covering this and 1,400+ other US stocks.
In other recent news, Magnolia Oil & Gas Corporation has announced a 15 percent increase in its quarterly dividend, marking the fourth consecutive year of dividend hikes. This move, attributed to operational achievements in 2024, raises the annualized dividend to $0.60 per share. Meanwhile, JPMorgan has adjusted its price target for Magnolia, raising it to $28.00 from $26.00, maintaining a Neutral rating. The bank’s decision follows Magnolia’s better-than-expected cash flow in the fourth quarter and alignment with 2025 guidance forecasts.
Goldman Sachs, however, downgraded Magnolia’s stock from Buy to Neutral, lowering the price target to $26.00. This downgrade reflects limited catalysts for further stock performance improvements. Despite this, Magnolia has met its operational cost savings targets for 2024, achieving a 5-10% reduction in lease operating expenses by the second half of the year. Additionally, the company plans to maintain consistent operations with two rigs and one completion crew, focusing heavily on the Giddings area.
JPMorgan’s analysis projects Magnolia’s oil production to reach approximately 40 thousand barrels per day by the end of 2025, slightly exceeding street estimates. The company’s capital expenditure for the fourth quarter is expected to align with both street estimates and company guidance at $125 million. Magnolia’s recent $400 million note offering has also been factored into financial considerations, impacting cash flow predictions.
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