Matador Resources (NYSE:MTDR) Issues Quarterly Earnings Results, Beats Expectations By $0.16 EPS

Matador Resources (NYSE:MTDR) announced its earnings results on Tuesday. The energy company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.16, FiscalAI reports. Matador Resources had a net margin of 20.46% and a return on equity of 14.80%. The firm had revenue of $847.99 million during the quarter, compared to analyst estimates of $811.13 million. During the same period in the prior year, the business earned $1.83 EPS. The company’s revenue for the quarter was down 15.7% compared to the same quarter last year.

Matador Resources Stock Down 4.6%

NYSE MTDR traded down $2.32 during mid-day trading on Wednesday, hitting $48.21. The company’s stock had a trading volume of 486,856 shares, compared to its average volume of 1,804,716. Matador Resources has a twelve month low of $35.19 and a twelve month high of $53.84. The firm has a market capitalization of $5.99 billion, a price-to-earnings ratio of 7.72 and a beta of 1.14. The company’s 50 day simple moving average is $44.41 and its 200 day simple moving average is $44.37. The company has a current ratio of 0.73, a quick ratio of 0.69 and a debt-to-equity ratio of 0.55.

Matador Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Friday, February 27th will be issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Friday, February 27th. Matador Resources’s dividend payout ratio (DPR) is currently 23.96%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on MTDR shares. Royal Bank Of Canada lowered their target price on shares of Matador Resources from $62.00 to $60.00 and set an “outperform” rating on the stock in a report on Tuesday, January 13th. BMO Capital Markets reiterated an “outperform” rating on shares of Matador Resources in a report on Thursday, December 18th. TD Cowen upgraded Matador Resources to a “strong-buy” rating in a research note on Monday, February 9th. Bank of America reduced their target price on Matador Resources from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. Finally, Wells Fargo & Company lowered Matador Resources from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $61.00 to $47.00 in a report on Tuesday, January 27th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Matador Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.82.

Hedge Funds Weigh In On Matador Resources

A number of hedge funds have recently added to or reduced their stakes in the stock. Kestra Investment Management LLC raised its stake in shares of Matador Resources by 225.2% in the second quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock worth $25,000 after purchasing an additional 358 shares during the last quarter. Measured Wealth Private Client Group LLC bought a new stake in Matador Resources in the third quarter worth about $35,000. Gilpin Wealth Management LLC bought a new stake in shares of Matador Resources in the 4th quarter worth approximately $42,000. Geneos Wealth Management Inc. increased its position in Matador Resources by 361.3% in the first quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company’s stock worth $45,000 after buying an additional 690 shares during the last quarter. Finally, Johnson Financial Group Inc. bought a new position in shares of Matador Resources during the 3rd quarter worth $49,000. Institutional investors and hedge funds own 91.98% of the company’s stock.

Matador Resources Company Profile

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.