Brokers Issue Forecasts for Matador Resources' Q2 2024 Earnings (NYSE:MTDR)

Matador Resources (NYSE:MTDR - Free Report) - Capital One Financial lowered their Q2 2024 earnings per share estimates for Matador Resources in a research report issued on Wednesday, April 24th. Capital One Financial analyst P. Johnston now expects that the energy company will post earnings per share of $1.82 for the quarter, down from their prior estimate of $1.87. The consensus estimate for Matador Resources' current full-year earnings is $7.30 per share.

A number of other brokerages have also recently weighed in on MTDR. Raymond James cut their price objective on shares of Matador Resources from $76.00 to $70.00 and set an "outperform" rating on the stock in a research note on Monday, January 8th. Truist Financial boosted their price target on shares of Matador Resources from $85.00 to $87.00 and gave the stock a "buy" rating in a research report on Friday. Wells Fargo & Company boosted their price target on shares of Matador Resources from $76.00 to $85.00 and gave the stock an "overweight" rating in a research report on Thursday, April 18th. Benchmark dropped their price target on shares of Matador Resources from $71.00 to $62.00 and set a "buy" rating on the stock in a research report on Tuesday. Finally, Mizuho boosted their price target on shares of Matador Resources from $76.00 to $78.00 and gave the stock a "buy" rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $74.30.

Matador Resources Stock Performance

Shares of NYSE MTDR traded up $0.02 during midday trading on Friday, reaching $65.60. 892,747 shares of the company traded hands, compared to its average volume of 1,399,156. Matador Resources has a 52 week low of $42.04 and a 52 week high of $71.08. The stock has a 50-day moving average price of $65.38 and a 200 day moving average price of $60.20. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.89 and a quick ratio of 0.98. The company has a market cap of $7.84 billion, a price-to-earnings ratio of 8.99 and a beta of 3.32.

Matador Resources (NYSE:MTDR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. The energy company reported $1.71 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.32. Matador Resources had a net margin of 28.89% and a return on equity of 20.62%. The business had revenue of $787.70 million for the quarter, compared to analysts' expectations of $740.99 million. During the same period in the previous year, the business earned $1.50 earnings per share. The company's revenue was up 40.6% on a year-over-year basis.

Hedge Funds Weigh In On Matador Resources

Institutional investors have recently bought and sold shares of the stock. Parkside Financial Bank & Trust grew its stake in Matador Resources by 82.0% during the 3rd quarter. Parkside Financial Bank & Trust now owns 444 shares of the energy company's stock valued at $26,000 after acquiring an additional 200 shares in the last quarter. Rise Advisors LLC purchased a new position in Matador Resources during the 1st quarter valued at about $34,000. Oakworth Capital Inc. purchased a new position in Matador Resources during the 4th quarter valued at about $31,000. Lindbrook Capital LLC grew its stake in Matador Resources by 84.3% during the 1st quarter. Lindbrook Capital LLC now owns 597 shares of the energy company's stock valued at $40,000 after acquiring an additional 273 shares in the last quarter. Finally, Financial Management Professionals Inc. purchased a new position in Matador Resources during the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 91.98% of the company's stock.

Matador Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $0.80 dividend on an annualized basis and a yield of 1.22%. Matador Resources's dividend payout ratio is currently 10.96%.

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.