Matador Resources (NYSE:MTDR) Announces Earnings Results

Matador Resources (NYSE:MTDR - Get Free Report) posted its quarterly earnings results on Tuesday. The energy company reported $1.53 earnings per share for the quarter, topping analysts' consensus estimates of $1.29 by $0.24, Zacks reports. The company had revenue of $895.31 million during the quarter, compared to the consensus estimate of $892.86 million. Matador Resources had a return on equity of 16.53% and a net margin of 22.57%. The business's quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the business earned $2.05 EPS.

Matador Resources Stock Performance

Matador Resources stock traded up $0.13 on Friday, hitting $50.78. The company's stock had a trading volume of 1,739,205 shares, compared to its average volume of 1,770,888. The firm has a market cap of $6.36 billion, a P/E ratio of 7.43 and a beta of 1.46. The company has a quick ratio of 0.76, a current ratio of 0.85 and a debt-to-equity ratio of 0.57. The company has a fifty day moving average price of $48.38 and a 200-day moving average price of $49.52. Matador Resources has a one year low of $35.19 and a one year high of $64.04.

Matador Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 15th will be given a dividend of $0.3125 per share. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date is Friday, August 15th. Matador Resources's dividend payout ratio is presently 18.30%.

Wall Street Analyst Weigh In

MTDR has been the topic of a number of recent research reports. Royal Bank Of Canada cut their price target on shares of Matador Resources from $70.00 to $62.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. UBS Group raised their price objective on Matador Resources from $46.00 to $48.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Wells Fargo & Company cut their price objective on Matador Resources from $80.00 to $74.00 and set an "overweight" rating on the stock in a research note on Monday, June 16th. KeyCorp lifted their price target on shares of Matador Resources from $60.00 to $62.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, Bank of America assumed coverage on shares of Matador Resources in a research report on Monday, May 19th. They issued a "buy" rating and a $56.00 price target on the stock. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $68.27.

Insiders Place Their Bets

In other Matador Resources news, EVP Glenn W. Stetson bought 1,000 shares of the stock in a transaction that occurred on Monday, April 28th. The shares were acquired at an average price of $41.53 per share, with a total value of $41,530.00. Following the completion of the purchase, the executive vice president directly owned 93,180 shares in the company, valued at $3,869,765.40. The trade was a 1.08% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP William Thomas Elsener acquired 750 shares of the stock in a transaction dated Thursday, May 1st. The stock was bought at an average price of $40.10 per share, for a total transaction of $30,075.00. Following the completion of the purchase, the executive vice president owned 111,197 shares in the company, valued at approximately $4,458,999.70. This trade represents a 0.68% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 14,850 shares of company stock valued at $601,103 over the last 90 days. Company insiders own 5.80% of the company's stock.

Institutional Investors Weigh In On Matador Resources

An institutional investor recently raised its position in Matador Resources stock. Jones Financial Companies Lllp boosted its stake in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 1,104.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,012 shares of the energy company's stock after acquiring an additional 1,845 shares during the quarter. Jones Financial Companies Lllp's holdings in Matador Resources were worth $103,000 as of its most recent SEC filing. Institutional investors and hedge funds own 91.98% of the company's stock.

Matador Resources announced that its Board of Directors has initiated a stock buyback plan on Wednesday, April 23rd that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the energy company to reacquire up to 7.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

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.