Matador Resources (NYSE:MTDR) Expected to Post Q2 2024 Earnings of $1.89 Per Share

Matador Resources (NYSE:MTDR) – Equities researchers at Roth Capital boosted their Q2 2024 EPS estimates for shares of Matador Resources in a research report issued on Wednesday, April 24th. Roth Capital analyst L. Mariani now anticipates that the energy company will earn $1.89 per share for the quarter, up from their prior forecast of $1.61. The consensus estimate for Matador Resources’ current full-year earnings is $7.40 per share. Roth Capital also issued estimates for Matador Resources’ Q3 2024 earnings at $2.29 EPS and FY2024 earnings at $8.22 EPS.

Other research analysts have also issued research reports about the company. StockNews.com raised Matador Resources from a “sell” rating to a “hold” rating in a report on Thursday, February 22nd. Royal Bank of Canada reissued an “outperform” rating and issued a $70.00 price target on shares of Matador Resources in a research note on Tuesday, March 5th. Roth Mkm reaffirmed a “buy” rating and set a $66.00 price objective on shares of Matador Resources in a research note on Monday, March 25th. Benchmark decreased their price objective on Matador Resources from $71.00 to $62.00 and set a “buy” rating on the stock in a report on Tuesday, April 23rd. Finally, Raymond James dropped their target price on Matador Resources from $76.00 to $70.00 and set an “outperform” rating for the company in a report on Monday, January 8th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $74.30.

Matador Resources Stock Up 0.0 %

Shares of NYSE MTDR opened at $65.61 on Friday. The business has a 50-day simple moving average of $65.50 and a two-hundred day simple moving average of $60.24. Matador Resources has a 52 week low of $42.04 and a 52 week high of $71.08. The company has a market cap of $7.84 billion, a P/E ratio of 8.99 and a beta of 3.32. The company has a quick ratio of 0.98, a current ratio of 0.89 and a debt-to-equity ratio of 0.43.

Matador Resources (NYSE:MTDR) last released its quarterly earnings data on Tuesday, April 23rd. The energy company reported $1.71 EPS for the quarter, topping the consensus estimate of $1.39 by $0.32. Matador Resources had a net margin of 28.89% and a return on equity of 20.62%. The company had revenue of $787.70 million during the quarter, compared to the consensus estimate of $740.99 million. During the same period last year, the firm earned $1.50 EPS. Matador Resources’s revenue for the quarter was up 40.6% on a year-over-year basis.

Matador Resources Dividend Announcement

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

Institutional Investors Weigh In On Matador Resources

Several hedge funds and other institutional investors have recently modified their holdings of the business. Parkside Financial Bank & Trust lifted its stake in Matador Resources by 82.0% in the third quarter. Parkside Financial Bank & Trust now owns 444 shares of the energy company’s stock worth $26,000 after acquiring an additional 200 shares during the period. Rise Advisors LLC bought a new position in Matador Resources in the first quarter worth approximately $34,000. Oakworth Capital Inc. purchased a new stake in Matador Resources during the fourth quarter worth $31,000. Lindbrook Capital LLC lifted its holdings 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, Financial Management Professionals Inc. bought a new stake in Matador Resources during the 4th quarter valued at $34,000. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

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.