Matador Resources to Post Q1 2024 Earnings of $1.36 Per Share, Zacks Research Forecasts (NYSE:MTDR)

Matador Resources (NYSE:MTDR - Free Report) - Research analysts at Zacks Research lifted their Q1 2024 EPS estimates for shares of Matador Resources in a note issued to investors on Tuesday, April 16th. Zacks Research analyst N. Banerjee now anticipates that the energy company will earn $1.36 per share for the quarter, up from their previous forecast of $1.34. The consensus estimate for Matador Resources' current full-year earnings is $7.04 per share. Zacks Research also issued estimates for Matador Resources' Q2 2024 earnings at $1.59 EPS, Q3 2024 earnings at $1.88 EPS, Q1 2025 earnings at $1.83 EPS, Q2 2025 earnings at $1.94 EPS, Q3 2025 earnings at $1.90 EPS, Q4 2025 earnings at $1.70 EPS, FY2025 earnings at $7.37 EPS and FY2026 earnings at $6.89 EPS.

Several other research analysts have also issued reports on the stock. Royal Bank of Canada reiterated an "outperform" rating and issued a $70.00 price target on shares of Matador Resources in a research note on Tuesday, March 5th. Wells Fargo & Company increased their price target on shares of Matador Resources from $76.00 to $85.00 and gave the stock an "overweight" rating in a research note on Thursday. StockNews.com upgraded shares of Matador Resources from a "sell" rating to a "hold" rating in a research note on Thursday, February 22nd. KeyCorp decreased their price target on shares of Matador Resources from $76.00 to $71.00 and set an "overweight" rating for the company in a research note on Thursday, January 11th. Finally, Raymond James reduced their price objective on shares of Matador Resources from $76.00 to $70.00 and set an "outperform" rating for the company in a research note on Monday, January 8th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Matador Resources has an average rating of "Moderate Buy" and an average target price of $73.40.

Matador Resources Stock Down 1.4 %

Shares of Matador Resources stock traded down $0.92 during trading on Thursday, hitting $64.73. The company's stock had a trading volume of 1,690,546 shares, compared to its average volume of 1,383,637. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.98 and a current ratio of 1.04. The company has a fifty day simple moving average of $64.52 and a two-hundred day simple moving average of $59.86. The company has a market capitalization of $7.74 billion, a PE ratio of 9.18 and a beta of 3.32. Matador Resources has a 52 week low of $42.04 and a 52 week high of $71.08.

Matador Resources (NYSE:MTDR - Get Free Report) last posted its earnings results on Wednesday, February 21st. The energy company reported $1.99 EPS for the quarter, missing the consensus estimate of $2.04 by ($0.05). Matador Resources had a return on equity of 21.54% and a net margin of 30.14%. The company had revenue of $836.13 million during the quarter, compared to analysts' expectations of $842.96 million. During the same period in the prior year, the business posted $2.08 earnings per share. The company's revenue for the quarter was up 18.2% on a year-over-year basis.

Matador Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Friday, February 23rd were paid a $0.20 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.24%. Matador Resources's dividend payout ratio is presently 11.35%.

Institutional Trading of Matador Resources

Large investors have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Matador Resources by 5.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 14,398 shares of the energy company's stock worth $763,000 after buying an additional 738 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Matador Resources by 2.1% in the first quarter. US Bancorp DE now owns 11,991 shares of the energy company's stock worth $635,000 after buying an additional 246 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Matador Resources by 28.6% in the first quarter. PNC Financial Services Group Inc. now owns 15,155 shares of the energy company's stock worth $804,000 after buying an additional 3,373 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Matador Resources by 53.9% in the first quarter. MetLife Investment Management LLC now owns 59,058 shares of the energy company's stock worth $3,129,000 after buying an additional 20,684 shares during the last quarter. Finally, Panagora Asset Management Inc. purchased a new position in shares of Matador Resources in the first quarter worth approximately $214,000. 91.98% of the stock is currently 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.