Matador Resources (NYSE:MTDR) Issues Earnings Results, Beats Expectations By $0.29 EPS

Matador Resources (NYSE:MTDR) issued its earnings results on Tuesday. The energy company reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.29, Briefing.com reports. Matador Resources had a net margin of 29.01% and a return on equity of 21.93%. The company had revenue of $847.14 million for the quarter, compared to analyst estimates of $822.55 million. During the same period in the prior year, the business posted $1.42 earnings per share. The firm’s revenue for the quarter was up 32.8% compared to the same quarter last year.

Matador Resources Stock Up 0.5 %

NYSE:MTDR traded up $0.28 during mid-day trading on Thursday, hitting $61.96. The company had a trading volume of 24,165 shares, compared to its average volume of 1,521,459. The business has a fifty day simple moving average of $60.27 and a 200-day simple moving average of $61.29. The firm has a market capitalization of $7.73 billion, a price-to-earnings ratio of 8.45 and a beta of 3.29. Matador Resources has a 1 year low of $51.72 and a 1 year high of $71.08. The company has a current ratio of 0.89, a quick ratio of 0.84 and a debt-to-equity ratio of 0.43.

Matador Resources Dividend Announcement

The firm also recently declared 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 is Thursday, August 15th. This represents a $0.80 dividend on an annualized basis and a yield of 1.29%. Matador Resources’s dividend payout ratio (DPR) is 10.96%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Capital One Financial upgraded Matador Resources from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $80.00 to $84.00 in a report on Thursday. Wolfe Research started coverage on Matador Resources in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. KeyCorp boosted their price objective on shares of Matador Resources from $71.00 to $76.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. TD Cowen raised their target price on shares of Matador Resources from $85.00 to $87.00 and gave the company a “buy” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. upped their target price on Matador Resources from $76.00 to $77.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Matador Resources has a consensus rating of “Moderate Buy” and an average target price of $77.67.

Insider Activity

In related news, EVP Bryan A. Erman purchased 1,750 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was purchased at an average price of $55.90 per share, for a total transaction of $97,825.00. Following the acquisition, the executive vice president now directly owns 1,750 shares in the company, valued at $97,825. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 6.10% 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.