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

Key Points

• Matador Resources beat quarterly expectations: The energy company reported $2.61 in EPS, $0.53 above estimates, while revenue reached $1.17 billion versus the $1.06 billion consensus.
• Shares declined despite the earnings beat, trading down $1.77 to $47.03. The company declared a quarterly dividend of $0.375, equivalent to a 3.2% annualized yield.
• Analyst sentiment remains moderately bullish: Matador has a consensus “Moderate Buy” rating and a $66 price target, while insiders purchased 11,907 shares worth approximately $635,712 during the last quarter.

Matador Resources (NYSE:MTDR - Get Free Report) issued its quarterly earnings data on Wednesday. The energy company reported $2.61 EPS for the quarter, beating the consensus estimate of $2.08 by $0.53, FiscalAI reports. Matador Resources had a return on equity of 11.20% and a net margin of 14.41%.The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.06 billion.

Matador Resources Stock Performance

Shares of NYSE MTDR traded down $1.77 during midday trading on Wednesday, hitting $47.03. The company's stock had a trading volume of 1,698,699 shares, compared to its average volume of 1,878,584. The firm has a market cap of $5.84 billion, a P/E ratio of 12.09 and a beta of 0.76. The firm's fifty day moving average price is $51.75 and its 200-day moving average price is $53.59. Matador Resources has a 1-year low of $37.14 and a 1-year high of $66.84. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.70 and a current ratio of 0.73.

Matador Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 10th will be paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Monday, August 10th. Matador Resources's payout ratio is 38.56%.

Insider Buying and Selling

In other news, CEO Joseph Wm Foran bought 4,675 shares of the company's stock in a transaction dated Wednesday, May 27th. The stock was bought at an average price of $52.36 per share, for a total transaction of $244,783.00. Following the completion of the transaction, the chief executive officer directly owned 6,997 shares in the company, valued at $366,362.92. The trade was a 201.34% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Glenn W. Stetson bought 500 shares of Matador Resources stock in a transaction that occurred on Tuesday, June 9th. The shares were acquired at an average price of $53.41 per share, with a total value of $26,705.00. Following the acquisition, the chief operating officer directly owned 95,470 shares of the company's stock, valued at $5,099,052.70. The trade was a 0.53% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have purchased 11,907 shares of company stock valued at $635,712. 5.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Kestra Investment Management LLC boosted its stake in Matador Resources by 225.2% in the second quarter. Kestra Investment Management LLC now owns 517 shares of the energy company's stock valued at $25,000 after acquiring an additional 358 shares during the last quarter. Measured Wealth Private Client Group LLC purchased a new stake in Matador Resources in the third quarter worth about $35,000. Gilpin Wealth Management LLC bought a new stake in shares of Matador Resources in the fourth quarter worth approximately $42,000. Geneos Wealth Management Inc. increased its position in Matador Resources by 361.3% in the first quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company's stock worth $45,000 after buying an additional 690 shares in the last quarter. Finally, Johnson Financial Group Inc. bought a new position in shares of Matador Resources during the third quarter worth $49,000. 91.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MTDR has been the subject of a number of recent analyst reports. Mizuho upgraded Matador Resources to a "strong-buy" rating in a research report on Friday, July 31st. Weiss Ratings lowered Matador Resources from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, May 12th. UBS Group decreased their target price on shares of Matador Resources from $56.00 to $54.00 and set a "neutral" rating on the stock in a research note on Monday, July 27th. Wells Fargo & Company lifted their price target on Matador Resources from $54.00 to $63.00 and gave the stock an "equal weight" rating in a report on Thursday, April 16th. Finally, Truist Financial reduced their target price on Matador Resources from $67.00 to $63.00 and set a "buy" rating on the stock in a research report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $66.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source