Matador Resources (NYSE:MTDR) Announces Quarterly Earnings Results, Beats Expectations By $0.11 EPS

Matador Resources (NYSE:MTDR) released its quarterly earnings data on Tuesday. The energy company reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.11, Briefing.com reports. Matador Resources had a net margin of 29.01% and a return on equity of 21.12%. The firm had revenue of $770.20 million for the quarter, compared to the consensus estimate of $836.69 million. During the same quarter in the prior year, the company posted $1.86 earnings per share. The business’s revenue was up 9.8% on a year-over-year basis.

Matador Resources Price Performance

Matador Resources stock traded down $0.05 during midday trading on Wednesday, reaching $50.28. 797,144 shares of the stock were exchanged, compared to its average volume of 1,499,762. Matador Resources has a 52 week low of $47.15 and a 52 week high of $71.08. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.82 and a current ratio of 0.86. The firm has a market cap of $6.27 billion, a PE ratio of 6.91 and a beta of 3.26. The company’s fifty day moving average is $53.03 and its 200-day moving average is $58.41.

Matador Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 annualized dividend and a yield of 1.99%. This is a boost from Matador Resources’s previous quarterly dividend of $0.20. Matador Resources’s payout ratio is currently 13.70%.

Insider Buying and Selling at Matador Resources

In other news, CEO Joseph Wm Foran purchased 2,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were purchased at an average price of $55.96 per share, with a total value of $111,920.00. Following the completion of the acquisition, the chief executive officer now owns 35,251 shares in the company, valued at $1,972,645.96. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In other Matador Resources news, CEO Joseph Wm Foran bought 2,000 shares of Matador Resources stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average cost of $55.96 per share, for a total transaction of $111,920.00. Following the completion of the transaction, the chief executive officer now directly owns 35,251 shares in the company, valued at $1,972,645.96. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Robert T. Macalik bought 500 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was acquired at an average price of $50.25 per share, for a total transaction of $25,125.00. Following the completion of the purchase, the chief accounting officer now directly owns 29,800 shares in the company, valued at approximately $1,497,450. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 12,300 shares of company stock valued at $634,615 in the last three months. Company insiders own 6.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on MTDR. Capital One Financial raised shares of Matador Resources from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $80.00 to $84.00 in a research report on Thursday, July 25th. Royal Bank of Canada reiterated an “outperform” rating and issued a $75.00 price objective on shares of Matador Resources in a research note on Friday, September 27th. Wolfe Research started coverage on Matador Resources in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Wells Fargo & Company lowered their target price on Matador Resources from $89.00 to $87.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. Finally, JPMorgan Chase & Co. cut their price target on Matador Resources from $83.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Matador Resources currently has a consensus rating of “Moderate Buy” and an average target price of $75.69.

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.