Matador Resources (NYSE:MTDR) Issues Earnings Results

Matador Resources (NYSE:MTDR) released its quarterly earnings data on Tuesday. The energy company reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $770.20 million during the quarter, compared to analysts’ expectations of $836.69 million. During the same quarter in the previous year, the company earned $1.86 earnings per share. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis.

Matador Resources Stock Down 0.8 %

Shares of Matador Resources stock traded down $0.42 during trading hours on Wednesday, hitting $49.91. The company had a trading volume of 220,863 shares, compared to its average volume of 1,496,951. The company has a market cap of $6.23 billion, a P/E ratio of 6.91 and a beta of 3.26. The company’s 50-day moving average is $53.03 and its two-hundred day moving average is $58.41. 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 twelve month low of $47.15 and a twelve month high of $71.08.

Matador Resources Increases Dividend

The business also recently announced 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 boost from Matador Resources’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend 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 presently 13.70%.

Insider Buying and Selling

In other news, CFO Brian J. Willey acquired 1,500 shares of the business’s stock in a transaction on Friday, September 6th. The stock was bought at an average price of $50.50 per share, for a total transaction of $75,750.00. Following the transaction, the chief financial officer now owns 1,500 shares in the company, valued at $75,750. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Brian J. Willey acquired 1,500 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average price of $50.50 per share, with a total value of $75,750.00. Following the completion of the acquisition, the chief financial officer now owns 1,500 shares in the company, valued at approximately $75,750. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Bryan A. Erman acquired 1,000 shares of Matador Resources stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average cost of $50.35 per share, with a total value of $50,350.00. Following the completion of the acquisition, the executive vice president now owns 2,750 shares of the company’s stock, valued at $138,462.50. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 12,300 shares of company stock worth $634,615 in the last 90 days. Company insiders own 6.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MTDR. Capital One Financial upgraded shares of Matador Resources from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $80.00 to $84.00 in a research report on Thursday, July 25th. Wells Fargo & Company decreased their target price on shares of Matador Resources from $89.00 to $87.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. Stephens boosted their price target on shares of Matador Resources from $76.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday. BMO Capital Markets boosted their price target on shares of Matador Resources from $75.00 to $78.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $75.00 target price on shares of Matador Resources in a research note on Friday, September 27th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.69.

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.