Matador Resources (NYSE:MTDR) Releases Earnings Results, Beats Expectations By $0.32 EPS

Matador Resources (NYSE:MTDR) issued its earnings results on Tuesday. The energy company reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.32, Briefing.com reports. The business had revenue of $787.70 million for the quarter, compared to analyst estimates of $740.99 million. Matador Resources had a net margin of 30.14% and a return on equity of 21.54%. The company’s revenue for the quarter was up 40.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.50 EPS.

Matador Resources Price Performance

NYSE:MTDR traded down $0.25 during trading hours on Wednesday, reaching $64.89. 1,604,124 shares of the company’s stock were exchanged, compared to its average volume of 1,387,423. The company has a market capitalization of $7.76 billion, a P/E ratio of 9.45 and a beta of 3.32. Matador Resources has a 12 month low of $42.04 and a 12 month high of $71.08. The company has a quick ratio of 0.98, a current ratio of 1.04 and a debt-to-equity ratio of 0.53. The business’s 50-day simple moving average is $65.07 and its two-hundred day simple moving average is $60.12.

Matador Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Thursday, May 16th. Matador Resources’s payout ratio is 11.35%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on MTDR shares. KeyCorp increased their price objective on shares of Matador Resources from $71.00 to $76.00 and gave the stock an “overweight” rating in a research note on Monday. JPMorgan Chase & Co. increased their price objective on shares of Matador Resources from $76.00 to $77.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. TD Cowen increased their price objective on shares of Matador Resources from $64.00 to $72.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th. Raymond James decreased their target price on shares of Matador Resources from $76.00 to $70.00 and set an “outperform” rating for the company in a research report on Monday, January 8th. Finally, Wells Fargo & Company upped their target price on shares of Matador Resources from $76.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Matador Resources currently has an average rating of “Moderate Buy” and a consensus target price of $74.10.

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.