Matador Resources (NYSE:MTDR) Issues Quarterly Earnings Results

Key Points

• Matador Resources reported $1.36 earnings per share (EPS) for the quarter, missing analysts' estimates by $0.01.
• The company declared a quarterly dividend increase from $0.31 to $0.375 per share, resulting in an annualized dividend yield of 3.4%.
• Analysts generally maintain a positive outlook with twelve Buy ratings and a price target averaging $65.79 for the stock.

Matador Resources (NYSE:MTDR - Get Free Report) announced its quarterly earnings data on Tuesday. The energy company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.13, Zacks reports. The firm had revenue of $939.02 million during the quarter, compared to analysts' expectations of $893.22 million. Matador Resources had a return on equity of 16.53% and a net margin of 22.57%.The company's quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.89 EPS.

Matador Resources Price Performance

NYSE MTDR opened at $43.92 on Wednesday. The business has a 50 day simple moving average of $46.67 and a 200 day simple moving average of $46.17. Matador Resources has a 52-week low of $35.19 and a 52-week high of $64.04. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.81 and a current ratio of 0.85. The stock has a market cap of $5.47 billion, a price-to-earnings ratio of 6.43 and a beta of 1.41.

Matador Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 10th will be paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Monday, November 10th. This is a positive change from Matador Resources's previous quarterly dividend of $0.31. Matador Resources's dividend payout ratio (DPR) is currently 18.30%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Raymond James Financial reissued an "outperform" rating and set a $55.00 price objective (down from $63.00) on shares of Matador Resources in a report on Monday. KeyCorp dropped their price objective on Matador Resources from $62.00 to $61.00 and set an "overweight" rating for the company in a report on Wednesday, September 3rd. Royal Bank Of Canada boosted their price objective on Matador Resources from $60.00 to $62.00 and gave the stock an "outperform" rating in a report on Wednesday, October 8th. Weiss Ratings restated a "hold (c-)" rating on shares of Matador Resources in a research report on Tuesday, October 14th. Finally, Mizuho decreased their target price on Matador Resources from $69.00 to $67.00 and set an "outperform" rating for the company in a research report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $65.79.

Insider Buying and Selling

In other Matador Resources news, EVP William Thomas Elsener bought 600 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was acquired at an average cost of $48.46 per share, with a total value of $29,076.00. Following the purchase, the executive vice president owned 112,069 shares in the company, valued at $5,430,863.74. This trade represents a 0.54% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Christopher P. Calvert bought 1,000 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were acquired at an average cost of $47.77 per share, with a total value of $47,770.00. Following the completion of the purchase, the chief operating officer owned 37,500 shares in the company, valued at $1,791,375. This represents a 2.74% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 11,380 shares of company stock valued at $549,188. 5.80% of the stock is owned by corporate insiders.

Institutional Trading of Matador Resources

Large investors have recently bought and sold shares of the business. Kestra Investment Management LLC increased its stake 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 in the last quarter. Geneos Wealth Management Inc. boosted its position in Matador Resources by 361.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company's stock worth $45,000 after acquiring an additional 690 shares during the last quarter. Jones Financial Companies Lllp boosted its position in Matador Resources by 1,104.8% during the 1st quarter. Jones Financial Companies Lllp now owns 2,012 shares of the energy company's stock worth $103,000 after acquiring an additional 1,845 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Matador Resources by 767.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,261 shares of the energy company's stock worth $156,000 after acquiring an additional 2,885 shares during the last quarter. Finally, Jump Financial LLC acquired a new position in Matador Resources during the 2nd quarter worth approximately $248,000. 91.98% of the stock is owned by institutional investors.

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.