Matador Resources (NYSE:MTDR) Posts Quarterly Earnings Results

Matador Resources (NYSE:MTDR) released its quarterly earnings results on Tuesday. The energy company reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.11, Briefing.com reports. Matador Resources had a return on equity of 20.63% and a net margin of 27.45%. The company had revenue of $770.20 million for the quarter, compared to analysts’ expectations of $836.69 million. During the same quarter in the previous year, the company posted $1.86 earnings per share. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year.

Matador Resources Stock Performance

Shares of MTDR opened at $53.20 on Friday. The firm has a market cap of $6.64 billion, a price-to-earnings ratio of 6.94 and a beta of 3.26. The company’s fifty day moving average is $52.83 and its 200-day moving average is $58.32. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 0.41. Matador Resources has a 12 month low of $47.15 and a 12 month high of $71.08.

Matador Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be paid a $0.25 dividend. The ex-dividend date is Friday, November 15th. This is a boost from Matador Resources’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a yield of 1.88%. Matador Resources’s payout ratio is 10.60%.

Analyst Ratings Changes

Several brokerages have weighed in on MTDR. TD Cowen lifted their target price on Matador Resources from $85.00 to $87.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. BMO Capital Markets increased their target price on shares of Matador Resources from $75.00 to $78.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. dropped their price objective on Matador Resources from $83.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Capital One Financial raised Matador Resources from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $80.00 to $84.00 in a report on Thursday, July 25th. Finally, Stephens upped their price target on shares of Matador Resources from $76.00 to $78.00 and gave the company an “overweight” rating in a report on Monday. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Matador Resources has an average rating of “Moderate Buy” and an average target price of $75.31.

Insider Activity at Matador Resources

In other Matador Resources news, CEO Joseph Wm Foran bought 2,500 shares of the stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $51.47 per share, with a total value of $128,675.00. Following the completion of the transaction, the chief executive officer now directly owns 37,751 shares of the company’s stock, valued at $1,943,043.97. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Joseph Wm Foran bought 2,500 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $51.47 per share, with a total value of $128,675.00. Following the completion of the transaction, the chief executive officer now directly owns 37,751 shares of the company’s stock, valued at $1,943,043.97. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Brian J. Willey purchased 1,500 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was purchased at an average cost of $50.50 per share, for a total transaction of $75,750.00. Following the transaction, the chief financial officer now owns 1,500 shares of the company’s stock, valued at approximately $75,750. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 12,300 shares of company stock valued at $634,615. Insiders own 6.10% of the company’s stock.

Matador Resources Company Profile

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.