FY2024 EPS Forecast for Matador Resources Raised by Analyst

Matador Resources (NYSE:MTDR) – Stock analysts at Capital One Financial lifted their FY2024 EPS estimates for shares of Matador Resources in a report issued 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 prior 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 posted its quarterly earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share for the quarter, topping 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 business had revenue of $770.20 million during the quarter, compared to the consensus estimate of $836.69 million. During the same period in the previous year, the firm posted $1.86 earnings per share. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis.

A number of other equities research analysts have also commented on MTDR. Truist Financial lowered their price target on shares of Matador Resources from $86.00 to $75.00 and set a “buy” rating for the company in a report on Monday, September 30th. TD Cowen upped their target price on Matador Resources from $74.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, December 19th. BMO Capital Markets lifted their price target on shares of Matador Resources from $75.00 to $78.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Stephens upped their price objective on shares of Matador Resources from $78.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Finally, Mizuho reduced their price target on shares of Matador Resources from $74.00 to $73.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $74.79.

Matador Resources Price Performance

MTDR opened at $61.40 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.84. The stock’s 50 day simple moving average is $56.96 and its 200 day simple moving average is $56.02. The firm has a market cap of $7.66 billion, a price-to-earnings ratio of 8.13 and a beta of 3.24. Matador Resources has a 1 year low of $47.15 and a 1 year high of $71.08.

Matador Resources Increases Dividend

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

Insider Transactions at Matador Resources

In other Matador Resources news, CEO Joseph Wm Foran bought 2,000 shares of Matador Resources stock in a transaction on Friday, December 6th. The stock was acquired at an average price of $55.18 per share, with a total value of $110,360.00. Following the acquisition, the chief executive officer now owns 42,251 shares in the company, valued at approximately $2,331,410.18. This trade represents a 4.97 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William Thomas Elsener acquired 800 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were acquired at an average cost of $56.60 per share, for a total transaction of $45,280.00. Following the completion of the transaction, the executive vice president now directly owns 102,964 shares of the company’s stock, valued at $5,827,762.40. The trade was a 0.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 4,285 shares of company stock valued at $232,849. Insiders own 6.10% of the company’s stock.

Institutional Trading of Matador Resources

A number of institutional investors have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. increased its position in Matador Resources by 26.6% during the fourth quarter. Harbor Capital Advisors Inc. now owns 35,003 shares of the energy company’s stock valued at $1,969,000 after acquiring an additional 7,354 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Matador Resources by 34.6% during the 4th quarter. GAMMA Investing LLC now owns 1,889 shares of the energy company’s stock valued at $106,000 after purchasing an additional 486 shares during the last quarter. Denver PWM LLC boosted its holdings in shares of Matador Resources by 67.2% in the third quarter. Denver PWM LLC now owns 754 shares of the energy company’s stock worth $37,000 after buying an additional 303 shares during the last quarter. American Trust boosted its stake in shares of Matador Resources by 60.9% during the 3rd quarter. American Trust now owns 5,630 shares of the energy company’s stock worth $278,000 after acquiring an additional 2,130 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Matador Resources by 12.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,008,421 shares of the energy company’s stock worth $54,122,000 after acquiring an additional 107,827 shares during the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

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.