Q3 2024 Earnings Estimate for Matador Resources (NYSE:MTDR) Issued By Zacks Research

Matador Resources (NYSE:MTDR) – Research analysts at Zacks Research lowered their Q3 2024 earnings per share (EPS) estimates for Matador Resources in a note issued to investors on Tuesday, June 18th. Zacks Research analyst N. Banerjee now expects that the energy company will post earnings per share of $1.84 for the quarter, down from their prior forecast of $2.00. The consensus estimate for Matador Resources’ current full-year earnings is $7.90 per share.

A number of other brokerages also recently issued reports on MTDR. JPMorgan Chase & Co. boosted their price objective on Matador Resources from $76.00 to $77.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. StockNews.com upgraded Matador Resources from a “sell” rating to a “hold” rating in a report on Thursday, February 22nd. Roth Mkm reiterated a “buy” rating and issued a $66.00 price objective on shares of Matador Resources in a research note on Monday, March 25th. KeyCorp increased their target price on shares of Matador Resources from $71.00 to $76.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Finally, Stephens assumed coverage on shares of Matador Resources in a research note on Friday. They issued an “overweight” rating and a $83.00 price target for the company. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $76.09.

Matador Resources Price Performance

Shares of NYSE MTDR opened at $57.64 on Friday. The company has a market capitalization of $7.19 billion, a PE ratio of 7.90 and a beta of 3.30. The company has a quick ratio of 0.84, a current ratio of 0.89 and a debt-to-equity ratio of 0.43. Matador Resources has a twelve month low of $48.01 and a twelve month high of $71.08. The firm has a fifty day simple moving average of $62.03 and a 200 day simple moving average of $60.48.

Matador Resources (NYSE:MTDR) last released its earnings results on Tuesday, April 23rd. The energy company reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.32. Matador Resources had a net margin of 28.89% and a return on equity of 20.62%. The business had revenue of $787.70 million during the quarter, compared to the consensus estimate of $740.99 million. During the same quarter in the prior year, the firm posted $1.50 EPS. The company’s revenue for the quarter was up 40.6% compared to the same quarter last year.

Matador Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 17th were issued a $0.20 dividend. The ex-dividend date was Thursday, May 16th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.39%. Matador Resources’s dividend payout ratio is presently 10.96%.

Insider Activity at Matador Resources

In related news, EVP Bryan A. Erman acquired 1,750 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was purchased at an average cost of $55.90 per share, with a total value of $97,825.00. Following the acquisition, the executive vice president now owns 1,750 shares of the company’s stock, valued at approximately $97,825. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 6.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Matador Resources

Several large investors have recently bought and sold shares of the stock. HighTower Advisors LLC lifted its position in shares of Matador Resources by 13.3% during the third quarter. HighTower Advisors LLC now owns 4,835 shares of the energy company’s stock valued at $291,000 after purchasing an additional 569 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Matador Resources in the 3rd quarter worth approximately $199,000. QRG Capital Management Inc. purchased a new stake in shares of Matador Resources during the third quarter valued at approximately $245,000. Envestnet Portfolio Solutions Inc. bought a new stake in Matador Resources during the third quarter worth $644,000. Finally, Envestnet Asset Management Inc. boosted its position in Matador Resources by 57.9% in the third quarter. Envestnet Asset Management Inc. now owns 196,077 shares of the energy company’s stock worth $11,663,000 after purchasing an additional 71,934 shares during the last quarter. 91.98% of the stock is currently owned by institutional investors.

Matador Resources Company Profile

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.