Matador Resources (NYSE:MTDR) Posts Quarterly Earnings Results, Beats Estimates By $0.53 EPS

Matador Resources (NYSE:MTDR) released its quarterly earnings data on Wednesday. The energy company reported $2.61 EPS for the quarter, topping the consensus estimate of $2.08 by $0.53, FiscalAI reports. Matador Resources had a net margin of 19.85% and a return on equity of 13.36%. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period in the previous year, the firm earned $1.53 EPS. The business’s revenue for the quarter was up 32.5% compared to the same quarter last year.

Matador Resources Stock Up 3.5%

Shares of Matador Resources stock opened at $48.68 on Friday. Matador Resources has a 1-year low of $37.14 and a 1-year high of $66.84. The company has a market capitalization of $6.04 billion, a PE ratio of 8.35 and a beta of 0.76. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.73 and a quick ratio of 0.70. The business has a 50-day moving average of $51.53 and a 200-day moving average of $53.66.

Matador Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 10th will be issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Monday, August 10th. Matador Resources’s dividend payout ratio (DPR) is presently 25.73%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on MTDR shares. Roth Capital upgraded Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Monday, June 22nd. UBS Group cut their target price on Matador Resources from $56.00 to $54.00 and set a “neutral” rating on the stock in a research report on Monday, July 27th. Morgan Stanley dropped their price target on Matador Resources from $75.00 to $66.00 and set an “equal weight” rating for the company in a research note on Monday, June 29th. Weiss Ratings downgraded Matador Resources from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 12th. Finally, Wells Fargo & Company boosted their target price on Matador Resources from $54.00 to $63.00 and gave the stock an “equal weight” rating in a report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $66.00.

Insider Buying and Selling

In related news, COO Glenn W. Stetson bought 500 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were acquired at an average price of $53.41 per share, for a total transaction of $26,705.00. Following the purchase, the chief operating officer owned 95,470 shares in the company, valued at $5,099,052.70. This trade represents a 0.53% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Christopher P. Calvert purchased 1,500 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were purchased at an average cost of $53.24 per share, for a total transaction of $79,860.00. Following the completion of the transaction, the chief financial officer owned 41,500 shares in the company, valued at approximately $2,209,460. This represents a 3.75% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders purchased 11,907 shares of company stock worth $635,712. Insiders own 5.90% of the company’s stock.

Institutional Trading of Matador Resources

Several hedge funds have recently bought and sold shares of MTDR. Kestra Investment Management LLC increased its stake in shares of Matador Resources by 225.2% in the second quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock valued at $25,000 after purchasing an additional 358 shares during the period. Measured Wealth Private Client Group LLC acquired a new position in shares of Matador Resources during the third quarter worth approximately $35,000. Geneos Wealth Management Inc. grew its holdings in Matador Resources by 361.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company’s stock worth $45,000 after buying an additional 690 shares in the last quarter. Gilpin Wealth Management LLC bought a new position in Matador Resources in the 4th quarter worth approximately $42,000. Finally, Johnson Financial Group Inc. acquired a new stake in Matador Resources in the 3rd quarter valued at approximately $49,000. 91.98% of the stock is currently owned by institutional investors.

Matador Resources Company Profile

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.