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 EPS for the quarter, topping the consensus estimate of $1.76 by $0.29, Briefing.com reports. The company 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 firm earned $1.42 earnings per share.

Matador Resources Price Performance

Shares of MTDR traded down $0.25 during midday trading on Friday, hitting $61.44. 1,614,331 shares of the company traded hands, compared to its average volume of 1,536,262. The stock has a market cap of $7.67 billion, a price-to-earnings ratio of 8.42 and a beta of 3.29. The firm has a 50 day moving average of $60.27 and a 200-day moving average of $61.29. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.84 and a current ratio of 0.86. Matador Resources has a 52 week low of $51.72 and a 52 week high of $71.08.

Matador Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Investors 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 dividend payout ratio is 10.96%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Mizuho upped their price objective 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. Benchmark reiterated a “buy” rating and issued a $62.00 price objective on shares of Matador Resources in a report on Wednesday. Stephens cut their price objective on Matador Resources from $83.00 to $81.00 and set an “overweight” rating on the stock in a research report on Wednesday. Truist Financial dropped their price target on Matador Resources from $91.00 to $86.00 and set a “buy” rating for the company in a research note on Monday. Finally, JPMorgan Chase & Co. upped their price objective on shares of Matador Resources from $76.00 to $77.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $78.08.

Insider Activity at Matador Resources

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

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.