Matador Resources (NYSE:MTDR) Expected to Earn Q1 2024 Earnings of $1.55 Per Share

Matador Resources (NYSE:MTDR) – Investment analysts at Capital One Financial reduced their Q1 2024 earnings per share (EPS) estimates for Matador Resources in a note issued to investors on Thursday, April 11th. Capital One Financial analyst P. Johnston now forecasts that the energy company will earn $1.55 per share for the quarter, down from their previous forecast of $1.57. The consensus estimate for Matador Resources’ current full-year earnings is $6.87 per share. Capital One Financial also issued estimates for Matador Resources’ Q2 2024 earnings at $1.87 EPS, Q3 2024 earnings at $1.97 EPS, Q4 2024 earnings at $2.03 EPS, FY2024 earnings at $7.42 EPS and FY2025 earnings at $8.79 EPS.

A number of other research firms also recently issued reports on MTDR. TD Cowen raised their target price on Matador Resources from $64.00 to $72.00 and gave the stock an “outperform” rating in a research report on Monday, March 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $70.00 target price on shares of Matador Resources in a research report on Tuesday, March 5th. Truist Financial raised their target price on Matador Resources from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. JPMorgan Chase & Co. raised their target price on Matador Resources from $76.00 to $77.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, KeyCorp decreased their target price on Matador Resources from $76.00 to $71.00 and set an “overweight” rating for the company in a research report on Thursday, January 11th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $72.50.

Matador Resources Stock Performance

Shares of MTDR opened at $68.53 on Monday. The company has a current ratio of 1.04, a quick ratio of 0.98 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $8.19 billion, a price-to-earnings ratio of 9.72 and a beta of 3.32. The stock has a 50 day moving average of $63.55 and a 200 day moving average of $59.68. Matador Resources has a 12 month low of $42.04 and a 12 month high of $71.08.

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

Matador Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Friday, February 23rd were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.17%. The ex-dividend date was Thursday, February 22nd. Matador Resources’s dividend payout ratio is presently 11.35%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Atria Wealth Solutions Inc. raised its position in Matador Resources by 5.3% during the 4th quarter. Atria Wealth Solutions Inc. now owns 3,880 shares of the energy company’s stock valued at $221,000 after purchasing an additional 195 shares during the last quarter. Great Lakes Advisors LLC raised its position in 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 purchasing an additional 196 shares during the last quarter. Metropolitan Life Insurance Co NY raised its position in shares of Matador Resources by 2.9% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 6,910 shares of the energy company’s stock worth $396,000 after acquiring an additional 197 shares in the last quarter. Parkside Financial Bank & Trust raised its position in shares of Matador Resources by 82.0% in the 3rd quarter. Parkside Financial Bank & Trust now owns 444 shares of the energy company’s stock worth $26,000 after acquiring an additional 200 shares in the last quarter. Finally, Verdence Capital Advisors LLC raised its position in shares of Matador Resources by 3.0% in the 3rd quarter. Verdence Capital Advisors LLC now owns 6,964 shares of the energy company’s stock worth $414,000 after acquiring an additional 201 shares in the last quarter. 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.