Matador Resources (NYSE:MTDR) Posts Earnings Results, Beats Expectations By $0.53 EPS

Matador Resources (NYSE:MTDR) released its earnings results on Wednesday. The energy company reported $2.61 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.53, FiscalAI reports. Matador Resources had a net margin of 14.41% and a return on equity of 11.20%. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.06 billion.

Matador Resources Trading Down 3.6%

MTDR traded down $1.77 on Wednesday, hitting $47.03. The company had a trading volume of 1,698,699 shares, compared to its average volume of 1,878,584. The company has a current ratio of 0.73, a quick ratio of 0.70 and a debt-to-equity ratio of 0.59. The firm has a market cap of $5.84 billion, a P/E ratio of 12.09 and a beta of 0.76. The company’s fifty day moving average price is $51.75 and its 200 day moving average price is $53.59. Matador Resources has a 1 year low of $37.14 and a 1 year high of $66.84.

Matador Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 10th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, August 10th. Matador Resources’s dividend payout ratio (DPR) is presently 38.56%.

Analysts Set New Price Targets

MTDR has been the subject of several analyst reports. Morgan Stanley decreased their target price on shares of Matador Resources from $75.00 to $66.00 and set an “equal weight” rating for the company in a research note on Monday, June 29th. UBS Group cut their price target on Matador Resources from $56.00 to $54.00 and set a “neutral” rating for the company in a research note on Monday, July 27th. Truist Financial dropped their price objective on Matador Resources from $67.00 to $63.00 and set a “buy” rating on the stock in a report on Thursday, July 16th. Roth Capital upgraded Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 price objective for the company in a research report on Monday, June 22nd. Finally, Stephens upped their target price on Matador Resources from $92.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $66.00.

Insider Activity

In related news, CEO Joseph Wm Foran acquired 2,000 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was purchased at an average price of $53.07 per share, with a total value of $106,140.00. Following the transaction, the chief executive officer owned 11,479 shares of the company’s stock, valued at approximately $609,190.53. This trade represents a 21.10% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Christopher P. Calvert bought 1,500 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The stock was bought at an average price of $53.24 per share, with a total value of $79,860.00. Following the acquisition, the chief financial officer directly owned 41,500 shares in the company, valued at $2,209,460. The trade was a 3.75% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders have purchased 11,907 shares of company stock valued at $635,712. Company insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Matador Resources

A number of institutional investors have recently modified their holdings of MTDR. Kestra Investment Management LLC lifted its stake in Matador Resources by 225.2% during the 2nd quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock worth $25,000 after acquiring an additional 358 shares in the last quarter. Measured Wealth Private Client Group LLC acquired a new position in Matador Resources in the 3rd quarter valued at about $35,000. Gilpin Wealth Management LLC purchased a new stake in Matador Resources during the fourth quarter worth about $42,000. Geneos Wealth Management Inc. boosted its stake in shares of Matador Resources by 361.3% in the first quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company’s stock valued at $45,000 after purchasing an additional 690 shares during the period. Finally, Johnson Financial Group Inc. acquired a new position in shares of Matador Resources in the third quarter valued at approximately $49,000. 91.98% of the stock is owned by institutional investors and hedge funds.

About Matador Resources

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.