FY2024 EPS Estimate for Matador Resources Lowered by Analyst

Matador Resources (NYSE:MTDR) – Stock analysts at Roth Capital cut their FY2024 earnings per share estimates for Matador Resources in a report released on Wednesday, October 23rd. Roth Capital analyst L. Mariani now forecasts that the energy company will earn $7.69 per share for the year, down from their previous estimate of $8.17. The consensus estimate for Matador Resources’ current full-year earnings is $7.41 per share.

Matador Resources (NYSE:MTDR) last posted its earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.11. Matador Resources had a net margin of 27.45% and a return on equity of 20.63%. The firm had revenue of $770.20 million during the quarter, compared to analyst estimates of $836.69 million. During the same period in the previous year, the business posted $1.86 EPS. Matador Resources’s revenue was up 9.8% on a year-over-year basis.

A number of other equities research analysts also recently weighed in on MTDR. Capital One Financial upgraded Matador Resources from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $80.00 to $84.00 in a research report on Thursday, July 25th. Mizuho cut their price target on shares of Matador Resources from $85.00 to $74.00 and set an “outperform” rating for the company in a report on Monday, September 16th. JPMorgan Chase & Co. lowered their price objective on shares of Matador Resources from $83.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. TD Cowen increased their target price on shares of Matador Resources from $85.00 to $87.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Truist Financial decreased their price target on shares of Matador Resources from $86.00 to $75.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Matador Resources presently has a consensus rating of “Moderate Buy” and an average price target of $75.31.

Matador Resources Price Performance

Shares of MTDR opened at $51.83 on Friday. Matador Resources has a one year low of $47.15 and a one year high of $71.08. The stock’s fifty day moving average is $52.74 and its 200-day moving average is $58.12. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.82 and a current ratio of 0.86. The firm has a market capitalization of $6.47 billion, a price-to-earnings ratio of 6.86 and a beta of 3.26.

Matador Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be paid a $0.25 dividend. The ex-dividend date is Friday, November 15th. This is a boost from Matador Resources’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a yield of 1.93%. Matador Resources’s payout ratio is 10.60%.

Insider Transactions at Matador Resources

In related news, CEO Joseph Wm Foran purchased 2,000 shares of Matador Resources stock in a transaction on Friday, August 2nd. The stock was bought at an average price of $55.96 per share, with a total value of $111,920.00. Following the completion of the transaction, the chief executive officer now directly owns 35,251 shares of the company’s stock, valued at approximately $1,972,645.96. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Joseph Wm Foran purchased 2,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were bought at an average price of $55.96 per share, with a total value of $111,920.00. Following the completion of the transaction, the chief executive officer now directly owns 35,251 shares in the company, valued at $1,972,645.96. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Robert T. Macalik purchased 500 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were purchased at an average price of $54.50 per share, with a total value of $27,250.00. Following the completion of the acquisition, the chief accounting officer now directly owns 29,300 shares of the company’s stock, valued at approximately $1,596,850. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 12,300 shares of company stock worth $634,615 in the last 90 days. 6.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Matador Resources

Large investors have recently bought and sold shares of the stock. Denver PWM LLC acquired a new stake in Matador Resources during the second quarter worth $27,000. Covestor Ltd lifted its holdings in shares of Matador Resources by 121.4% during the 1st quarter. Covestor Ltd now owns 414 shares of the energy company’s stock worth $28,000 after acquiring an additional 227 shares during the period. Quarry LP boosted its position in shares of Matador Resources by 47.5% during the 2nd quarter. Quarry LP now owns 779 shares of the energy company’s stock valued at $46,000 after acquiring an additional 251 shares in the last quarter. Advisors Asset Management Inc. increased its stake in Matador Resources by 191.8% in the first quarter. Advisors Asset Management Inc. now owns 709 shares of the energy company’s stock valued at $47,000 after acquiring an additional 466 shares during the period. Finally, GAMMA Investing LLC raised its position in Matador Resources by 28.7% in the third quarter. GAMMA Investing LLC now owns 1,403 shares of the energy company’s stock worth $69,000 after purchasing an additional 313 shares in the last quarter. 91.98% of the stock is currently owned by institutional investors and hedge funds.

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.