Matador Resources Company (NYSE:MTDR) Announces Dividend Increase – $0.44 Per Share

Matador Resources Company (NYSE:MTDR) declared a quarterly dividend on Wednesday, October 21st. Shareholders of record on Tuesday, November 10th will be given a dividend of $0.4375 per share by the energy company on Friday, December 4th. This represents a $1.75 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Tuesday, November 10th. This is a 16.7% increase from Matador Resources’s previous quarterly dividend of $0.3750.

Matador Resources has a dividend payout ratio of 24.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Matador Resources to earn $9.41 per share next year, which means the company should continue to be able to cover its $1.50 annual dividend with an expected future payout ratio of 15.9%.

Matador Resources Price Performance

Shares of MTDR traded down $0.97 during midday trading on Thursday, hitting $56.78. 333,629 shares of the company traded hands, compared to its average volume of 1,841,657. The stock has a 50-day moving average of $56.22 and a 200-day moving average of $55.15. Matador Resources has a one year low of $37.14 and a one year high of $66.84. The firm has a market cap of $7.03 billion, a P/E ratio of 9.71 and a beta of 0.98. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.65 and a quick ratio of 0.62.

Matador Resources (NYSE:MTDR) last released its quarterly earnings data on Wednesday, August 5th. The energy company reported $2.61 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.53. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.06 billion. Matador Resources had a net margin of 19.85% and a return on equity of 13.18%. Matador Resources’s revenue was up 32.5% compared to the same quarter last year. During the same period last year, the business earned $1.53 earnings per share. As a group, sell-side analysts predict that Matador Resources will post 7.62 EPS for the current fiscal year.

About Matador Resources

Matador Resources Company (NYSE: MTDR) is an independent energy company engaged in the exploration, development, production and acquisition of oil, natural gas and natural gas liquids. The company focuses primarily on unconventional, or shale, resource plays and operates across both upstream exploration and production and related midstream activities.

Matador’s principal exploration and production operations are located in the Delaware Basin in southeastern New Mexico and West Texas. Its midstream operations, conducted primarily through San Mateo Midstream, provide natural gas gathering and processing, crude oil and produced-water gathering, and water sourcing and disposal services that support the company’s operations and other producers in the region.

Founded in 2003 and headquartered in Dallas, Texas, Matador has historically expanded through development and acquisitions in U.S.