Matador Resources (NYSE:MTDR) Announces Quarterly Earnings Results, Misses Estimates By $0.05 EPS

Matador Resources (NYSE:MTDR) issued its earnings results on Tuesday. The energy company reported $1.83 earnings per share for the quarter, missing the consensus estimate of $1.88 by ($0.05), Zacks reports. The firm had revenue of $970.37 million during the quarter, compared to analyst estimates of $967.10 million. Matador Resources had a net margin of 25.26% and a return on equity of 19.08%.

Matador Resources Stock Performance

NYSE MTDR traded down $0.24 on Thursday, hitting $56.39. 71,650 shares of the company’s stock were exchanged, compared to its average volume of 1,028,360. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.84. The firm’s 50-day moving average price is $58.25 and its two-hundred day moving average price is $55.78. The firm has a market cap of $7.04 billion, a price-to-earnings ratio of 7.89 and a beta of 3.22. Matador Resources has a fifty-two week low of $47.15 and a fifty-two week high of $71.08.

Matador Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.3125 dividend. This represents a $1.25 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Friday, February 28th. This is a positive change from Matador Resources’s previous quarterly dividend of $0.25. Matador Resources’s payout ratio is currently 14.01%.

Analyst Upgrades and Downgrades

MTDR has been the subject of a number of recent analyst reports. Mizuho decreased their price target on Matador Resources from $74.00 to $73.00 and set an “outperform” rating for the company in a report on Monday, December 16th. TD Cowen boosted their price objective on shares of Matador Resources from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Wells Fargo & Company increased their target price on shares of Matador Resources from $87.00 to $91.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Truist Financial boosted their price target on shares of Matador Resources from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Finally, Wolfe Research upgraded Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 price target on the stock in a research note on Friday, January 3rd. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.14.

Insider Activity at Matador Resources

In other news, EVP William Thomas Elsener purchased 800 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were bought at an average cost of $56.60 per share, with a total value of $45,280.00. Following the purchase, the executive vice president now directly owns 102,964 shares of the company’s stock, valued at approximately $5,827,762.40. This trade represents a 0.78 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joseph Wm Foran acquired 2,000 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was purchased at an average cost of $55.18 per share, with a total value of $110,360.00. Following the transaction, the chief executive officer now owns 42,251 shares of the company’s stock, valued at approximately $2,331,410.18. The trade was a 4.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 2,980 shares of company stock worth $165,988 over the last three months. 6.10% of the stock is currently owned by corporate insiders.

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.