Matador Resources (NYSE:MTDR) Issues Quarterly Earnings Results, Beats Expectations By $0.29 EPS

Matador Resources (NYSE:MTDR) posted its earnings results on Tuesday. The energy company reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.29, Briefing.com reports. The firm had revenue of $847.14 million during the quarter, compared to analysts’ expectations of $822.55 million. Matador Resources had a return on equity of 21.12% and a net margin of 29.01%. The firm’s revenue was up 32.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.42 earnings per share.

Matador Resources Price Performance

MTDR stock traded down $0.25 on Friday, reaching $61.44. 1,614,331 shares of the company’s stock were exchanged, compared to its average volume of 1,536,262. The stock has a fifty day moving average of $60.27 and a 200-day moving average of $61.29. Matador Resources has a twelve month low of $51.72 and a twelve month high of $71.08. The firm has a market cap of $7.67 billion, a PE ratio of 8.42 and a beta of 3.29. The company has a quick ratio of 0.84, a current ratio of 0.86 and a debt-to-equity ratio of 0.41.

Matador Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 15th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date is Thursday, August 15th. Matador Resources’s dividend payout ratio is presently 10.96%.

Analyst Ratings Changes

Several research firms recently weighed in on MTDR. JPMorgan Chase & Co. boosted their target price on Matador Resources from $76.00 to $77.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. TD Cowen boosted their target price on Matador Resources from $85.00 to $87.00 and gave the stock a “buy” rating in a research note on Wednesday. Mizuho boosted their target price on Matador Resources from $83.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. Wells Fargo & Company boosted their target price on Matador Resources from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Finally, Capital One Financial upgraded Matador Resources from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $80.00 to $84.00 in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Matador Resources has a consensus rating of “Moderate Buy” and an average target price of $78.08.

Insider Buying and Selling

In other Matador Resources news, EVP Bryan A. Erman acquired 1,750 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were purchased at an average price of $55.90 per share, with a total value of $97,825.00. Following the completion of the acquisition, the executive vice president now directly owns 1,750 shares of the company’s stock, valued at approximately $97,825. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 6.10% of the stock is currently owned by corporate insiders.

About Matador Resources

Matador Resources Company, an independent energy company, engages in the exploration, development, production, and acquisition of oil and natural gas resources in the United States. It operates through two segments, Exploration and Production; and Midstream. The company primarily holds interests in the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas.