Brokers Offer Predictions for Matador Resources’ Q2 2024 Earnings (NYSE:MTDR)

Matador Resources (NYSE:MTDR) – Investment analysts at Capital One Financial decreased their Q2 2024 earnings estimates for Matador Resources in a research note issued to investors 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 $7.40 per share.

Several other equities analysts have also recently weighed in on the stock. KeyCorp lifted their price objective on shares of Matador Resources from $71.00 to $76.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. TD Cowen raised their price target on shares of Matador Resources from $64.00 to $72.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th. Benchmark dropped their target price on Matador Resources from $71.00 to $62.00 and set a “buy” rating for the company in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. raised their price objective on shares of Matador Resources from $76.00 to $77.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Finally, Roth Mkm reiterated a “buy” rating and issued a $66.00 target price on shares of Matador Resources in a research note on Monday, March 25th. 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $74.30.

Matador Resources Stock Performance

Matador Resources stock opened at $65.61 on Friday. Matador Resources has a fifty-two week low of $42.04 and a fifty-two week high of $71.08. The firm’s 50 day simple moving average is $65.50 and its 200-day simple moving average is $60.24. 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 P/E ratio of 8.99 and a beta of 3.32.

Matador Resources (NYSE:MTDR) last announced its earnings results on Tuesday, April 23rd. The energy company reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.32. Matador Resources had a return on equity of 20.62% and a net margin of 28.89%. The company had revenue of $787.70 million for the quarter, compared to analyst estimates of $740.99 million. During the same period in the previous year, the firm earned $1.50 earnings per share. Matador Resources’s revenue for the quarter was up 40.6% compared to the same quarter last year.

Institutional Investors Weigh In On Matador Resources

Hedge funds have recently added to or reduced their stakes in the company. Caas Capital Management LP purchased a new stake in shares of Matador Resources in the first quarter valued at $334,000. Opus Capital Group LLC boosted its holdings in Matador Resources by 24.9% in the first quarter. Opus Capital Group LLC now owns 5,020 shares of the energy company’s stock valued at $335,000 after acquiring an additional 1,000 shares during the last quarter. Shaker Investments LLC OH grew its holdings in shares of Matador Resources by 1.1% during the 1st quarter. Shaker Investments LLC OH now owns 27,345 shares of the energy company’s stock worth $1,826,000 after purchasing an additional 297 shares during the period. Lindbrook Capital LLC grew its stake in Matador Resources by 84.3% during the first quarter. Lindbrook Capital LLC now owns 597 shares of the energy company’s stock worth $40,000 after buying an additional 273 shares during the period. Finally, WCM Investment Management LLC boosted its position in Matador Resources by 2.5% during the 1st quarter. WCM Investment Management LLC now owns 312,066 shares of the energy company’s stock worth $20,837,000 after purchasing an additional 7,498 shares during the period. Institutional investors and hedge funds 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 given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.22%. The ex-dividend date is Thursday, May 16th. Matador Resources’s dividend payout ratio (DPR) is presently 10.96%.

About Matador Resources

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.