Matador Resources (NYSE:MTDR) Issues Quarterly Earnings Results

Matador Resources (NYSE:MTDR - Get Free Report) announced its quarterly earnings data on Tuesday. The energy company reported $1.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.29 by $0.24, Zacks reports. Matador Resources had a net margin of 22.57% and a return on equity of 16.78%. The business had revenue of $895.31 million during the quarter, compared to analyst estimates of $892.86 million. During the same period last year, the firm posted $2.05 EPS. The company's revenue was up 8.2% on a year-over-year basis.

Matador Resources Stock Performance

Shares of Matador Resources stock traded down $0.05 on Thursday, reaching $50.28. 1,923,768 shares of the stock were exchanged, compared to its average volume of 1,713,361. The company has a quick ratio of 0.76, a current ratio of 0.79 and a debt-to-equity ratio of 0.56. Matador Resources has a twelve month low of $35.19 and a twelve month high of $64.04. The firm has a market capitalization of $6.29 billion, a price-to-earnings ratio of 7.38 and a beta of 1.46. The business has a 50 day moving average price of $48.13 and a two-hundred day moving average price of $49.63.

Matador Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.3125 per share. The ex-dividend date is Friday, August 15th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.49%. Matador Resources's payout ratio is 18.30%.

Insider Activity

In related news, insider Van H. Singleton II purchased 1,000 shares of the firm's stock in a transaction on Thursday, May 1st. The stock was bought at an average cost of $40.72 per share, with a total value of $40,720.00. Following the completion of the acquisition, the insider owned 291,135 shares of the company's stock, valued at $11,855,017.20. The trade was a 0.34% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP William Thomas Elsener purchased 750 shares of the firm's stock in a transaction on Thursday, May 1st. The stock was bought at an average cost of $40.10 per share, with a total value of $30,075.00. Following the completion of the acquisition, the executive vice president directly owned 111,197 shares of the company's stock, valued at $4,458,999.70. This trade represents a 0.68% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 14,850 shares of company stock valued at $601,103. 5.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Matador Resources stock. Geneos Wealth Management Inc. increased its position in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 361.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 881 shares of the energy company's stock after purchasing an additional 690 shares during the quarter. Geneos Wealth Management Inc.'s holdings in Matador Resources were worth $45,000 as of its most recent filing with the SEC. Institutional investors own 91.98% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Bank of America assumed coverage on Matador Resources in a research report on Monday, May 19th. They set a "buy" rating and a $56.00 target price for the company. UBS Group increased their target price on Matador Resources from $46.00 to $48.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. TD Cowen upgraded Matador Resources to a "strong-buy" rating in a research report on Monday, July 7th. Morgan Stanley lowered their price target on Matador Resources from $84.00 to $68.00 and set an "equal weight" rating for the company in a research report on Thursday, March 27th. Finally, Wells Fargo & Company lowered their price target on Matador Resources from $80.00 to $74.00 and set an "overweight" rating for the company in a research report on Monday, June 16th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $69.25.

Matador Resources announced that its Board of Directors has authorized a share buyback program on Wednesday, April 23rd that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the energy company to reacquire up to 7.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

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.