Matador Resources (NYSE:MTDR) Issues Quarterly Earnings Results, Beats Estimates By $0.11 EPS

Matador Resources (NYSE:MTDR) released its earnings results on Tuesday. The energy company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.11, Briefing.com reports. Matador Resources had a net margin of 29.01% and a return on equity of 21.12%. The business had revenue of $770.20 million for the quarter, compared to analysts’ expectations of $836.69 million. During the same period last year, the company earned $1.86 earnings per share. The company’s quarterly revenue was up 9.8% on a year-over-year basis.

Matador Resources Price Performance

Shares of Matador Resources stock traded down $0.42 during trading on Wednesday, hitting $49.91. The stock had a trading volume of 220,863 shares, compared to its average volume of 1,496,951. The business has a fifty day moving average of $53.03 and a two-hundred day moving average of $58.41. The firm has a market cap of $6.23 billion, a P/E ratio of 6.91 and a beta of 3.26. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.86 and a quick ratio of 0.82. Matador Resources has a fifty-two week low of $47.15 and a fifty-two week high of $71.08.

Matador Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be issued a $0.25 dividend. This is a positive change from Matador Resources’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 2.00%. Matador Resources’s dividend payout ratio is 13.70%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. BMO Capital Markets lifted their target price on Matador Resources from $75.00 to $78.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Wells Fargo & Company reduced their price target on Matador Resources from $89.00 to $87.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. Royal Bank of Canada restated an “outperform” rating and set a $75.00 price objective on shares of Matador Resources in a report on Friday, September 27th. KeyCorp lowered their price target on Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Finally, TD Cowen boosted their price target on Matador Resources from $85.00 to $87.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $75.69.

Insider Transactions at Matador Resources

In related news, CAO Robert T. Macalik bought 500 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were bought at an average cost of $54.50 per share, with a total value of $27,250.00. Following the completion of the transaction, the chief accounting officer now directly owns 29,300 shares of the company’s stock, valued at approximately $1,596,850. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Joseph Wm Foran bought 2,000 shares of the stock in a transaction on Friday, August 2nd. The shares were purchased at an average price of $55.96 per share, for a total transaction of $111,920.00. Following the completion of the purchase, the chief executive officer now directly owns 35,251 shares of the company’s stock, valued at $1,972,645.96. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Robert T. Macalik purchased 500 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were purchased at an average cost of $54.50 per share, with a total value of $27,250.00. Following the completion of the purchase, the chief accounting officer now directly owns 29,300 shares in the company, valued at approximately $1,596,850. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 12,300 shares of company stock valued at $634,615 over the last three months. Company insiders own 6.10% 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.