FY2024 EPS Forecast for Matador Resources Raised by Analyst

Matador Resources (NYSE:MTDR) – Equities research analysts at Capital One Financial increased their FY2024 EPS estimates for shares of Matador Resources in a research report issued to clients and investors on Wednesday, January 8th. Capital One Financial analyst P. Johnston now expects that the energy company will post earnings of $7.38 per share for the year, up from their previous estimate of $7.35. The consensus estimate for Matador Resources’ current full-year earnings is $7.49 per share. Capital One Financial also issued estimates for Matador Resources’ Q4 2024 earnings at $1.73 EPS.

Matador Resources (NYSE:MTDR) last announced its earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.11. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The firm had revenue of $770.20 million during the quarter, compared to the consensus estimate of $836.69 million. During the same quarter in the previous year, the company posted $1.86 EPS. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis.

MTDR has been the subject of several other research reports. Truist Financial cut their target price on shares of Matador Resources from $86.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Stephens lifted their price target on Matador Resources from $78.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, December 6th. JPMorgan Chase & Co. lowered their price target on Matador Resources from $77.00 to $71.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Benchmark restated a “buy” rating and issued a $62.00 price target on shares of Matador Resources in a report on Wednesday, October 23rd. Finally, TD Cowen lifted their price target on Matador Resources from $74.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $74.79.

Matador Resources Trading Up 2.2 %

Shares of MTDR stock opened at $61.40 on Friday. The firm has a 50-day moving average price of $57.16 and a 200 day moving average price of $56.01. Matador Resources has a twelve month low of $47.15 and a twelve month high of $71.08. The company has a market capitalization of $7.66 billion, a price-to-earnings ratio of 8.13 and a beta of 3.24. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71.

Matador Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 15th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.63%. This is a boost from Matador Resources’s previous quarterly dividend of $0.20. Matador Resources’s payout ratio is presently 13.25%.

Insiders Place Their Bets

In related news, EVP William Thomas Elsener purchased 800 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was purchased at an average price of $56.60 per share, for a total transaction of $45,280.00. Following the acquisition, the executive vice president now directly owns 102,964 shares in the company, valued at $5,827,762.40. The trade was a 0.78 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Glenn W. Stetson purchased 1,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was bought at an average price of $51.33 per share, with a total value of $51,330.00. Following the acquisition, the executive vice president now owns 85,935 shares in the company, valued at $4,411,043.55. This trade represents a 1.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 4,285 shares of company stock worth $232,849 in the last 90 days. 6.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Matador Resources

A number of institutional investors have recently made changes to their positions in the business. ClearAlpha Technologies LP raised its position in shares of Matador Resources by 4.3% in the 3rd quarter. ClearAlpha Technologies LP now owns 5,250 shares of the energy company’s stock valued at $259,000 after purchasing an additional 218 shares in the last quarter. Quarry LP raised its position in shares of Matador Resources by 47.5% in the 2nd quarter. Quarry LP now owns 779 shares of the energy company’s stock valued at $46,000 after purchasing an additional 251 shares in the last quarter. Greenleaf Trust raised its position in shares of Matador Resources by 3.8% in the 3rd quarter. Greenleaf Trust now owns 7,086 shares of the energy company’s stock valued at $350,000 after purchasing an additional 260 shares in the last quarter. Evergreen Capital Management LLC raised its position in shares of Matador Resources by 4.4% in the 2nd quarter. Evergreen Capital Management LLC now owns 6,814 shares of the energy company’s stock valued at $406,000 after purchasing an additional 289 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Matador Resources by 20.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,751 shares of the energy company’s stock valued at $108,000 after acquiring an additional 300 shares in the last quarter. 91.98% of the stock is owned by institutional investors and hedge funds.

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.