Zacks Research Analysts Raise Earnings Estimates for Matador Resources (NYSE:MTDR)

Matador Resources (NYSE:MTDR) – Investment analysts at Zacks Research lifted their Q1 2024 earnings per share estimates for Matador Resources in a research report issued to clients and investors on Tuesday, April 16th. Zacks Research analyst N. Banerjee now forecasts that the energy company will post earnings of $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.

Other analysts have also issued reports about the company. TD Cowen boosted their price objective on Matador Resources from $64.00 to $72.00 and gave the company an “outperform” rating in a research note on Monday, March 4th. JPMorgan Chase & Co. boosted their price objective on Matador Resources from $76.00 to $77.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Royal Bank of Canada reiterated an “outperform” rating and set a $70.00 price objective on shares of Matador Resources in a research note on Tuesday, March 5th. Raymond James decreased their price objective on Matador Resources from $76.00 to $70.00 and set an “outperform” rating on the stock in a research note on Monday, January 8th. Finally, Mizuho boosted their price objective on Matador Resources from $67.00 to $76.00 and gave the company a “buy” rating in a research note on Monday, April 1st. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $73.40.

Matador Resources Stock Performance

Shares of MTDR opened at $64.62 on Thursday. The firm has a market cap of $7.72 billion, a PE ratio of 9.17 and a beta of 3.32. The stock’s fifty day moving average price is $64.72 and its two-hundred day moving average price is $59.91. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.04 and a quick ratio of 0.98. Matador Resources has a 1 year low of $42.04 and a 1 year high of $71.08.

Matador Resources (NYSE:MTDR) last issued its earnings results on Wednesday, February 21st. The energy company reported $1.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.04 by ($0.05). The firm had revenue of $836.13 million during the quarter, compared to the consensus estimate of $842.96 million. Matador Resources had a net margin of 30.14% and a return on equity of 21.54%. The business’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.08 earnings per share.

Matador Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be issued a $0.20 dividend. The ex-dividend date is Thursday, May 16th. This represents a $0.80 annualized dividend and a dividend yield of 1.24%. Matador Resources’s payout ratio is currently 11.35%.

Institutional Trading of Matador Resources

Several institutional investors and hedge funds have recently modified their holdings of the business. Atria Wealth Solutions Inc. raised its holdings in shares of Matador Resources by 5.3% in the 4th quarter. Atria Wealth Solutions Inc. now owns 3,880 shares of the energy company’s stock valued at $221,000 after acquiring an additional 195 shares in the last quarter. Great Lakes Advisors LLC raised its holdings in shares of Matador Resources by 1.4% during the 3rd quarter. Great Lakes Advisors LLC now owns 13,851 shares of the energy company’s stock valued at $824,000 after buying an additional 196 shares in the last quarter. Metropolitan Life Insurance Co NY raised its holdings in shares of Matador Resources by 2.9% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 6,910 shares of the energy company’s stock valued at $396,000 after buying an additional 197 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of 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 buying an additional 200 shares in the last quarter. Finally, Verdence Capital Advisors LLC raised its holdings in shares of Matador Resources by 3.0% during the 3rd quarter. Verdence Capital Advisors LLC now owns 6,964 shares of the energy company’s stock valued at $414,000 after buying an additional 201 shares in the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

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.