Zacks Research Analysts Increase Earnings Estimates for Matador Resources (NYSE:MTDR)

Matador Resources (NYSE:MTDR) – Zacks Research increased their Q1 2024 earnings per share estimates for Matador Resources in a research note issued on Tuesday, April 16th. Zacks Research analyst N. Banerjee now expects that the energy company will post earnings of $1.36 per share for the quarter, up from their prior estimate of $1.34. The consensus estimate for Matador Resources’ current full-year earnings is $7.04 per share. Zacks Research also issued estimates for Matador Resources’ Q2 2024 earnings at $1.59 EPS, Q3 2024 earnings at $1.88 EPS, Q1 2025 earnings at $1.83 EPS, Q2 2025 earnings at $1.94 EPS, Q3 2025 earnings at $1.90 EPS, Q4 2025 earnings at $1.70 EPS, FY2025 earnings at $7.37 EPS and FY2026 earnings at $6.89 EPS.

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

A number of other research analysts also recently weighed in on the company. JPMorgan Chase & Co. lifted their price target on Matador Resources from $76.00 to $77.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Truist Financial boosted their target price on Matador Resources from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, April 5th. TD Cowen boosted their target price on Matador Resources from $64.00 to $72.00 and gave the company an “outperform” rating in a research note on Monday, March 4th. Benchmark lowered their target price on Matador Resources from $71.00 to $62.00 and set a “buy” rating on the stock in a research note on Thursday, January 25th. Finally, Roth Mkm restated a “buy” rating and issued a $66.00 target price on shares of Matador Resources in a research note on Monday, March 25th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $72.50.

Matador Resources Stock Performance

Shares of MTDR stock opened at $65.67 on Thursday. Matador Resources has a 1-year low of $42.04 and a 1-year high of $71.08. 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 $7.85 billion, a price-to-earnings ratio of 9.31 and a beta of 3.32. The stock’s fifty day simple moving average is $64.34 and its 200-day simple moving average is $59.83.

Matador Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Friday, February 23rd were given a $0.20 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.22%. Matador Resources’s dividend payout ratio is currently 11.35%.

Institutional Trading of Matador Resources

A number of institutional investors and hedge funds have recently made changes to their positions in MTDR. Invesco Ltd. lifted its position in shares of Matador Resources by 82.9% in the first quarter. Invesco Ltd. now owns 4,367,715 shares of the energy company’s stock worth $231,403,000 after buying an additional 1,979,904 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Matador Resources by 51.6% in the second quarter. Goldman Sachs Group Inc. now owns 2,013,942 shares of the energy company’s stock worth $93,830,000 after buying an additional 685,220 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Matador Resources by 4.8% in the first quarter. Vanguard Group Inc. now owns 12,422,915 shares of the energy company’s stock worth $658,165,000 after buying an additional 567,557 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Matador Resources in the third quarter worth about $33,720,000. Finally, Federated Hermes Inc. lifted its position in shares of Matador Resources by 77.1% in the first quarter. Federated Hermes Inc. now owns 1,256,513 shares of the energy company’s stock worth $66,570,000 after buying an additional 546,871 shares during the last quarter. Institutional investors and hedge funds own 91.98% of the company’s stock.

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.