Matador Resources (NYSE:MTDR) Posts Earnings Results, Beats Expectations By $0.27 EPS

Key Points

• $1.53 EPS reported for the quarter, topping analyst estimates of $1.26 by $0.27; the company posted a 12.36% return on equity and a 20.54% net margin.
• Shares fell 8.1% to $57.85 on the day despite the beat, with volume about 2.28 million versus an average of 1.88 million.
• Matador declared a quarterly dividend of $0.375 (annualized $1.50, yield 2.6%, ex-dividend May 8); market cap is $7.19 billion, P/E 9.48, and the consensus rating is "Moderate Buy" with a $62.62 target while institutional ownership is ~92%.

Matador Resources (NYSE:MTDR - Get Free Report) released its quarterly earnings data on Wednesday. The energy company reported $1.53 EPS for the quarter, topping analysts' consensus estimates of $1.26 by $0.27, Zacks reports. Matador Resources had a return on equity of 12.36% and a net margin of 20.54%.

Matador Resources Stock Down 8.1%

Matador Resources stock traded down $5.08 during trading on Wednesday, reaching $57.85. 2,277,574 shares of the company's stock were exchanged, compared to its average volume of 1,884,309. The company's 50-day moving average is $58.47 and its two-hundred day moving average is $48.37. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.75 and a current ratio of 0.79. Matador Resources has a 52-week low of $37.14 and a 52-week high of $66.84. The firm has a market cap of $7.19 billion, a price-to-earnings ratio of 9.48, a PEG ratio of 1.98 and a beta of 0.81.

Matador Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 8th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Friday, May 8th. Matador Resources's dividend payout ratio is 24.59%.

Institutional Trading of Matador Resources

Institutional investors have recently added to or reduced their stakes in the business. Kestra Investment Management LLC boosted its position in Matador Resources by 225.2% during the 2nd quarter. Kestra Investment Management LLC now owns 517 shares of the energy company's stock worth $25,000 after purchasing an additional 358 shares during the period. Measured Wealth Private Client Group LLC purchased a new position in Matador Resources in the 3rd quarter valued at about $35,000. Geneos Wealth Management Inc. boosted its position in Matador Resources by 361.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company's stock valued at $45,000 after buying an additional 690 shares during the last quarter. Gilpin Wealth Management LLC purchased a new position in Matador Resources in the 4th quarter valued at about $42,000. Finally, Johnson Financial Group Inc. purchased a new position in Matador Resources in the 3rd quarter valued at about $49,000. 91.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MTDR has been the subject of a number of research analyst reports. Royal Bank Of Canada dropped their price objective on Matador Resources from $62.00 to $60.00 and set an "outperform" rating for the company in a report on Tuesday, January 13th. UBS Group upped their price objective on Matador Resources from $50.00 to $52.00 and gave the stock a "neutral" rating in a report on Thursday, March 5th. Wells Fargo & Company upped their price objective on Matador Resources from $54.00 to $63.00 and gave the stock an "equal weight" rating in a report on Thursday, April 16th. BMO Capital Markets upped their price objective on Matador Resources from $65.00 to $72.00 and gave the stock an "outperform" rating in a report on Monday, April 6th. Finally, Weiss Ratings raised shares of Matador Resources from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, Matador Resources presently has an average rating of "Moderate Buy" and a consensus price target of $62.62.

Matador Resources Company Profile

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.

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