Brokers Set Expectations for Matador Resources' Q3 2024 Earnings (NYSE:MTDR)

Matador Resources (NYSE:MTDR - Free Report) - Research analysts at Capital One Financial boosted their Q3 2024 earnings per share (EPS) estimates for shares of Matador Resources in a note issued to investors on Wednesday, April 24th. Capital One Financial analyst P. Johnston now anticipates that the energy company will post earnings of $2.04 per share for the quarter, up from their prior forecast of $1.97. The consensus estimate for Matador Resources' current full-year earnings is $7.50 per share. Capital One Financial also issued estimates for Matador Resources' Q4 2024 earnings at $2.13 EPS, FY2024 earnings at $7.70 EPS, FY2025 earnings at $9.01 EPS and FY2026 earnings at $9.07 EPS.

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 (EPS) 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 firm had revenue of $787.70 million during the quarter, compared to the consensus estimate of $740.99 million. During the same quarter in the previous year, the firm posted $1.50 EPS. The company's revenue for the quarter was up 40.6% compared to the same quarter last year.

Several other equities research analysts have also issued reports on the stock. Mizuho increased their target price on shares of Matador Resources from $76.00 to $78.00 and gave the stock a "buy" rating in a report on Wednesday, April 24th. Wells Fargo & Company upped their target price on shares of Matador Resources from $76.00 to $85.00 and gave the stock an "overweight" rating in a report on Thursday, April 18th. TD Cowen raised their price target on Matador Resources from $64.00 to $72.00 and gave the company an "outperform" rating in a report on Monday, March 4th. StockNews.com upgraded Matador Resources from a "sell" rating to a "hold" rating in a research report on Thursday, February 22nd. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $70.00 target price on shares of Matador Resources in a research note on Tuesday, March 5th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $74.30.

Matador Resources Stock Performance

MTDR traded up $0.54 during midday trading on Monday, reaching $66.15. The company had a trading volume of 1,189,563 shares, compared to its average volume of 1,396,631. Matador Resources has a 1 year low of $42.04 and a 1 year high of $71.08. The company has a quick ratio of 0.84, a current ratio of 0.89 and a debt-to-equity ratio of 0.43. The company has a market cap of $7.91 billion, a P/E ratio of 9.06 and a beta of 3.32. The business has a 50-day moving average of $65.50 and a two-hundred day moving average of $60.25.

Hedge Funds Weigh In On Matador Resources

Several institutional investors have recently bought and sold shares of MTDR. Algert Global LLC boosted its holdings in shares of Matador Resources by 1,500.9% in the 3rd quarter. Algert Global LLC now owns 71,240 shares of the energy company's stock worth $4,237,000 after purchasing an additional 66,790 shares during the period. Wedge Capital Management L L P NC increased its position in Matador Resources by 31.2% during the fourth quarter. Wedge Capital Management L L P NC now owns 92,100 shares of the energy company's stock valued at $5,237,000 after acquiring an additional 21,924 shares during the last quarter. Flputnam Investment Management Co. purchased a new stake in shares of Matador Resources in the third quarter valued at $204,000. WCM Investment Management LLC raised its stake in shares of Matador Resources by 10.3% in the fourth quarter. WCM Investment Management LLC now owns 304,568 shares of the energy company's stock valued at $17,510,000 after acquiring an additional 28,390 shares during the period. Finally, Natixis Advisors L.P. lifted its holdings in shares of Matador Resources by 85.4% in the 3rd quarter. Natixis Advisors L.P. now owns 134,903 shares of the energy company's stock worth $8,024,000 after acquiring an additional 62,124 shares during the last quarter. Institutional investors own 91.98% of the company's stock.

Matador Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.21%. 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.