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

Matador Resources (NYSE:MTDR) issued its quarterly earnings results on Wednesday. The energy company reported $2.61 EPS for the quarter, topping the consensus estimate of $2.08 by $0.53, FiscalAI reports. Matador Resources had a return on equity of 11.20% and a net margin of 14.41%.The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the previous year, the business earned $1.53 earnings per share. The firm’s revenue for the quarter was up 32.5% on a year-over-year basis.

Matador Resources Trading Down 3.6%

Shares of NYSE MTDR traded down $1.77 during midday trading on Wednesday, reaching $47.03. 1,698,699 shares of the stock were exchanged, compared to its average volume of 1,878,584. The stock has a market capitalization of $5.84 billion, a P/E ratio of 12.09 and a beta of 0.76. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.70 and a current ratio of 0.73. The company has a 50 day simple moving average of $51.75 and a 200 day simple moving average of $53.59. Matador Resources has a twelve month low of $37.14 and a twelve month high of $66.84.

Matador Resources Announces Dividend

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

Insider Activity at Matador Resources

In other Matador Resources news, COO Glenn W. Stetson bought 500 shares of Matador Resources stock in a transaction on Tuesday, June 9th. The shares were bought at an average price of $53.41 per share, for a total transaction of $26,705.00. Following the completion of the transaction, the chief operating officer directly owned 95,470 shares of the company’s stock, valued at $5,099,052.70. This trade represents a 0.53% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Joseph Wm Foran purchased 4,675 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was acquired at an average cost of $52.36 per share, for a total transaction of $244,783.00. Following the purchase, the chief executive officer owned 6,997 shares in the company, valued at approximately $366,362.92. The trade was a 201.34% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have acquired 11,907 shares of company stock worth $635,712. Insiders own 5.90% of the company’s stock.

Institutional Trading of Matador Resources

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Jones Financial Companies Lllp raised its stake in shares of Matador Resources by 1,104.8% in the 1st quarter. Jones Financial Companies Lllp now owns 2,012 shares of the energy company’s stock valued at $103,000 after acquiring an additional 1,845 shares during the period. Geneos Wealth Management Inc. increased its holdings in Matador Resources by 361.3% in the 1st 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 last quarter. Sivia Capital Partners LLC purchased a new stake in Matador Resources in the second quarter valued at approximately $255,000. Arrowstreet Capital Limited Partnership purchased a new stake in Matador Resources in the second quarter valued at approximately $5,126,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Matador Resources by 767.3% during the second quarter. EverSource Wealth Advisors LLC now owns 3,261 shares of the energy company’s stock worth $156,000 after purchasing an additional 2,885 shares in the last quarter. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on MTDR shares. Zacks Research lowered Matador Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Citigroup dropped their target price on shares of Matador Resources from $72.00 to $68.00 and set a “buy” rating for the company in a report on Monday, July 20th. Stephens increased their target price on shares of Matador Resources from $92.00 to $93.00 and gave the company an “overweight” rating in a research report on Tuesday, July 28th. Wells Fargo & Company boosted their price target on shares of Matador Resources from $54.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 16th. Finally, Weiss Ratings downgraded shares of Matador Resources from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $66.00.

Matador Resources Company Profile

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.