Matador Resources (NYSE:MTDR) Posts Quarterly Earnings Results, Beats Estimates By $0.29 EPS

Matador Resources (NYSE:MTDR) issued its earnings results on Tuesday. The energy company reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.29, Briefing.com reports. The business had revenue of $847.14 million for the quarter, compared to the consensus estimate of $822.55 million. Matador Resources had a net margin of 29.01% and a return on equity of 21.12%. The firm’s revenue for the quarter was up 32.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.42 earnings per share.

Matador Resources Price Performance

Shares of MTDR traded down $0.25 during trading hours on Friday, hitting $61.44. 1,614,331 shares of the company were exchanged, compared to its average volume of 1,536,262. The company has a market cap of $7.67 billion, a price-to-earnings ratio of 8.42 and a beta of 3.29. The firm’s fifty day moving average is $60.27 and its 200 day moving average is $61.29. Matador Resources has a fifty-two week low of $51.72 and a fifty-two week high of $71.08. The company has a quick ratio of 0.84, a current ratio of 0.86 and a debt-to-equity ratio of 0.41.

Matador Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.30%. Matador Resources’s payout ratio is 10.96%.

Analysts Set New Price Targets

A number of equities analysts recently commented on MTDR shares. TD Cowen lifted their price target on Matador Resources from $85.00 to $87.00 and gave the stock a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. boosted their target price on Matador Resources from $76.00 to $77.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Wells Fargo & Company lifted their price objective on shares of Matador Resources from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Stephens cut their target price on shares of Matador Resources from $83.00 to $81.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Mizuho upped their price target on shares of Matador Resources from $83.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, June 14th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Matador Resources presently has a consensus rating of “Moderate Buy” and an average price target of $78.08.

Insider Buying and Selling

In other news, EVP Bryan A. Erman purchased 1,750 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was bought at an average price of $55.90 per share, with a total value of $97,825.00. Following the acquisition, the executive vice president now owns 1,750 shares in the company, valued at approximately $97,825. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.10% of the stock is currently owned by company insiders.

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.