Matador Resources (NYSE:MTDR – Get Free Report) 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
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.
View Our Latest Report on MTDR
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.
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