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

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

Several other research firms also recently commented on MTDR. Wells Fargo & Company raised their target price on Matador Resources from $76.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. StockNews.com upgraded shares of Matador Resources from a “sell” rating to a “hold” rating in a research note on Thursday, February 22nd. Benchmark lowered their target price on shares of Matador Resources from $71.00 to $62.00 and set a “buy” rating on the stock in a report on Tuesday, April 23rd. KeyCorp upped their price objective 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, Roth Mkm reiterated a “buy” rating and issued a $66.00 target price on shares of Matador Resources in a research note on Monday, March 25th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $76.09.

Matador Resources Stock Up 1.0 %

NYSE MTDR opened at $57.64 on Friday. Matador Resources has a 1-year low of $48.01 and a 1-year high of $71.08. The company has a market capitalization of $7.19 billion, a price-to-earnings ratio of 7.90 and a beta of 3.30. The stock’s 50 day moving average is $62.03 and its two-hundred day moving average is $60.48. The company has a current ratio of 0.89, a quick ratio of 0.84 and a debt-to-equity ratio of 0.43.

Matador Resources (NYSE:MTDR) last posted 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. The business had revenue of $787.70 million for the quarter, compared to analysts’ expectations of $740.99 million. Matador Resources had a net margin of 28.89% and a return on equity of 20.62%. The firm’s revenue for the quarter was up 40.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.50 earnings per share.

Institutional Trading of Matador Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MTDR. HighTower Advisors LLC boosted its stake in shares of Matador Resources by 13.3% in the 3rd 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 during the last quarter. DekaBank Deutsche Girozentrale bought a new position in Matador Resources in the third quarter valued at approximately $199,000. QRG Capital Management Inc. acquired a new stake in Matador Resources during the 3rd quarter worth $245,000. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Matador Resources during the 3rd quarter valued at $644,000. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Matador Resources by 57.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 196,077 shares of the energy company’s stock valued at $11,663,000 after purchasing an additional 71,934 shares during the period. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Matador Resources

In other news, EVP Bryan A. Erman bought 1,750 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was bought at an average price of $55.90 per share, for a total transaction of $97,825.00. Following the completion of the transaction, the executive vice president now directly owns 1,750 shares in the company, valued at approximately $97,825. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 6.10% of the company’s stock.

Matador Resources Announces Dividend

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

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.