Q2 2024 EPS Estimates for Matador Resources (NYSE:MTDR) Raised by Analyst

Matador Resources (NYSE:MTDR) – Equities research analysts at Zacks Research upped their Q2 2024 EPS estimates for shares of Matador Resources in a research report issued on Tuesday, June 18th. Zacks Research analyst N. Banerjee now anticipates that the energy company will post earnings of $1.73 per share for the quarter, up from their prior estimate of $1.71. The consensus estimate for Matador Resources’ current full-year earnings is $7.89 per share.

A number of other research firms have also recently weighed in on MTDR. Roth Mkm restated a “buy” rating and set a $66.00 price objective on shares of Matador Resources in a research report on Monday, March 25th. Mizuho increased their target price on shares of Matador Resources from $83.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, June 14th. Royal Bank of Canada reiterated an “outperform” rating and issued a $70.00 target price on shares of Matador Resources in a research report on Tuesday, March 5th. JPMorgan Chase & Co. increased their target price on shares of Matador Resources from $76.00 to $77.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Finally, TD Cowen raised their price objective on shares of Matador Resources from $64.00 to $72.00 and gave the stock an “outperform” rating in a research report on Monday, March 4th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $75.40.

Matador Resources Stock Up 1.6 %

NYSE:MTDR opened at $57.06 on Wednesday. The company has a market cap of $7.12 billion, a PE ratio of 7.82 and a beta of 3.30. Matador Resources has a twelve month low of $47.76 and a twelve month high of $71.08. The company has a current ratio of 0.89, a quick ratio of 0.84 and a debt-to-equity ratio of 0.43. The company’s 50 day moving average is $62.26 and its two-hundred day moving average is $60.50.

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

Matador Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 7th. Stockholders 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 1.40%. Matador Resources’s payout ratio is 10.96%.

Insider Activity

In other Matador Resources news, EVP Bryan A. Erman bought 1,750 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were acquired 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 directly owns 1,750 shares of the company’s stock, valued at approximately $97,825. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Matador Resources

Several institutional investors have recently made changes to their positions in the stock. Parkside Financial Bank & Trust boosted its position in shares of Matador Resources by 82.0% in the 3rd quarter. Parkside Financial Bank & Trust now owns 444 shares of the energy company’s stock worth $26,000 after buying an additional 200 shares in the last quarter. Covestor Ltd raised its stake in Matador Resources by 121.4% in the 1st quarter. Covestor Ltd now owns 414 shares of the energy company’s stock valued at $28,000 after purchasing an additional 227 shares during the last quarter. Oakworth Capital Inc. acquired a new position in shares of Matador Resources during the 4th quarter valued at about $31,000. Financial Management Professionals Inc. acquired a new position in shares of Matador Resources during the 4th quarter valued at about $34,000. Finally, Rise Advisors LLC acquired a new position in shares of Matador Resources during the 1st quarter valued at about $34,000. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

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.