Matador Resources (NYSE:MTDR) Posts Quarterly Earnings Results, Beats Expectations By $0.53 EPS

Matador Resources (NYSE:MTDR) released its quarterly earnings data on Wednesday. The energy company reported $2.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.53, FiscalAI reports. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Matador Resources had a net margin of 14.41% and a return on equity of 11.20%. The firm’s quarterly revenue was up 32.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.53 EPS.

Matador Resources Stock Down 3.6%

Shares of NYSE:MTDR opened at $47.03 on Thursday. The firm has a market cap of $5.84 billion, a P/E ratio of 12.09 and a beta of 0.76. Matador Resources has a 12-month low of $37.14 and a 12-month high of $66.84. The business has a fifty day simple moving average of $51.64 and a 200 day simple moving average of $53.62. The company has a quick ratio of 0.70, a current ratio of 0.73 and a debt-to-equity ratio of 0.59.

Matador Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 10th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Monday, August 10th. Matador Resources’s dividend payout ratio (DPR) is currently 38.56%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Stephens raised their target price on shares of Matador Resources from $92.00 to $93.00 and gave the company an “overweight” rating in a research report on Tuesday, July 28th. UBS Group lowered their price target on shares of Matador Resources from $56.00 to $54.00 and set a “neutral” rating for the company in a report on Monday, July 27th. Morgan Stanley dropped their price target on Matador Resources from $75.00 to $66.00 and set an “equal weight” rating for the company in a research note on Monday, June 29th. Citigroup cut their price objective on Matador Resources from $72.00 to $68.00 and set a “buy” rating on the stock in a report on Monday, July 20th. Finally, Roth Capital upgraded Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 price objective on the stock in a research report on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $66.00.

Insider Buying and Selling at Matador Resources

In related news, CFO Christopher P. Calvert purchased 1,500 shares of the firm’s stock in a transaction dated Friday, May 29th. The stock was bought at an average price of $53.24 per share, with a total value of $79,860.00. Following the completion of the purchase, the chief financial officer owned 41,500 shares in the company, valued at approximately $2,209,460. This represents a 3.75% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Joseph Wm Foran acquired 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was bought at an average cost of $53.07 per share, for a total transaction of $106,140.00. Following the completion of the purchase, the chief executive officer owned 11,479 shares of the company’s stock, valued at $609,190.53. This trade represents a 21.10% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have purchased 11,907 shares of company stock worth $635,712. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Matador Resources

A number of institutional investors have recently modified their holdings of MTDR. Invesco Ltd. lifted its holdings in Matador Resources by 45.9% in the fourth quarter. Invesco Ltd. now owns 594,849 shares of the energy company’s stock valued at $25,245,000 after buying an additional 187,178 shares during the period. XTX Topco Ltd acquired a new stake in Matador Resources during the 4th quarter worth about $340,000. Virtus Investment Advisers LLC acquired a new stake in Matador Resources during the 4th quarter worth about $165,000. Wellington Management Group LLP raised its position in shares of Matador Resources by 65.0% in the 4th quarter. Wellington Management Group LLP now owns 3,406,182 shares of the energy company’s stock worth $144,558,000 after acquiring an additional 1,342,145 shares in the last quarter. Finally, SummitTX Capital L.P. raised its position in shares of Matador Resources by 146.9% in the 4th quarter. SummitTX Capital L.P. now owns 41,927 shares of the energy company’s stock worth $1,779,000 after acquiring an additional 24,947 shares in the last quarter. 91.98% of the stock is owned by institutional investors.

About Matador Resources

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.