Matador Resources (NYSE:MTDR) Releases Earnings Results, Misses Estimates By $0.07 EPS

Matador Resources (NYSE:MTDR) posted its quarterly earnings data on Tuesday. The energy company reported $0.87 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.07), FiscalAI reports. The firm had revenue of $847.99 million for the quarter, compared to the consensus estimate of $811.13 million. Matador Resources had a return on equity of 14.80% and a net margin of 20.46%.

Matador Resources Stock Performance

Shares of MTDR traded down $0.57 during mid-day trading on Tuesday, reaching $50.59. The company had a trading volume of 3,305,315 shares, compared to its average volume of 1,842,304. The stock has a market capitalization of $6.29 billion, a P/E ratio of 8.08 and a beta of 1.14. Matador Resources has a 52-week low of $35.19 and a 52-week high of $54.09. The stock has a 50 day moving average of $44.22 and a two-hundred day moving average of $44.34. The company has a quick ratio of 0.69, a current ratio of 0.73 and a debt-to-equity ratio of 0.55.

Matador Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Friday, February 27th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, February 27th. Matador Resources’s payout ratio is 23.96%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Bank of America lowered their price objective on Matador Resources from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, November 3rd. KeyCorp restated an “overweight” rating on shares of Matador Resources in a research note on Friday, December 19th. Wells Fargo & Company lowered shares of Matador Resources from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $61.00 to $47.00 in a research report on Tuesday, January 27th. Royal Bank Of Canada lowered their target price on shares of Matador Resources from $62.00 to $60.00 and set an “outperform” rating for the company in a research note on Tuesday, January 13th. Finally, TD Cowen upgraded shares of Matador Resources to a “strong-buy” rating in a research note on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $57.82.

Institutional Trading of Matador Resources

A number of hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in Matador Resources by 65.0% in the 4th quarter. Wellington Management Group LLP now owns 3,406,182 shares of the energy company’s stock worth $144,558,000 after purchasing an additional 1,342,145 shares during the period. Balyasny Asset Management L.P. raised its stake in shares of Matador Resources by 2,495.0% during the 4th quarter. Balyasny Asset Management L.P. now owns 552,856 shares of the energy company’s stock worth $23,463,000 after buying an additional 531,551 shares during the period. Adage Capital Partners GP L.L.C. grew its stake in Matador Resources by 12.9% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 3,365,997 shares of the energy company’s stock valued at $142,853,000 after acquiring an additional 385,000 shares during the period. UBS Group AG increased its holdings in Matador Resources by 94.6% in the 3rd quarter. UBS Group AG now owns 746,767 shares of the energy company’s stock worth $33,552,000 after acquiring an additional 362,970 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in Matador Resources by 30.6% during the second quarter. AQR Capital Management LLC now owns 1,302,587 shares of the energy company’s stock worth $62,159,000 after acquiring an additional 305,352 shares during the period. 91.98% of the stock is owned by hedge funds and other institutional investors.

About Matador Resources

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.