Roth Capital Has Negative Outlook for MTDR FY2024 Earnings

Matador Resources (NYSE:MTDR) – Stock analysts at Roth Capital decreased their FY2024 earnings estimates for Matador Resources in a research report issued to clients and investors on Wednesday, October 23rd. Roth Capital analyst L. Mariani now anticipates that the energy company will earn $7.69 per share for the year, down from their prior estimate of $8.17. The consensus estimate for Matador Resources’ current full-year earnings is $7.41 per share.

MTDR has been the topic of several other research reports. JPMorgan Chase & Co. reduced their target price on shares of 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 upgraded shares of Matador Resources from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $80.00 to $84.00 in a research report on Thursday, July 25th. Mizuho reduced their target price on Matador Resources from $85.00 to $74.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Wells Fargo & Company dropped their price target on Matador Resources from $89.00 to $87.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Finally, KeyCorp cut their price target on Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Matador Resources has an average rating of “Moderate Buy” and an average target price of $75.31.

Matador Resources Stock Up 3.2 %

NYSE MTDR opened at $52.38 on Friday. The stock’s 50 day moving average is $52.83 and its two-hundred day moving average is $58.32. Matador Resources has a 1-year low of $47.15 and a 1-year high of $71.08. The company has a market capitalization of $6.54 billion, a price-to-earnings ratio of 6.94 and a beta of 3.26. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 0.41.

Matador Resources (NYSE:MTDR) last released its quarterly earnings data on Tuesday, October 22nd. The energy company reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.11. The company had revenue of $770.20 million during the quarter, compared to the consensus estimate of $836.69 million. Matador Resources had a net margin of 27.45% and a return on equity of 20.63%. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the firm earned $1.86 EPS.

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 issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Friday, November 15th. This is a positive change from Matador Resources’s previous quarterly dividend of $0.20. Matador Resources’s payout ratio is currently 10.60%.

Insider Buying and Selling at Matador Resources

In other news, CAO Robert T. Macalik acquired 500 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average price of $54.50 per share, for a total transaction of $27,250.00. Following the transaction, the chief accounting officer now directly owns 29,300 shares in the company, valued at approximately $1,596,850. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. In other Matador Resources news, CEO Joseph Wm Foran acquired 2,000 shares of the stock in a transaction dated Friday, August 2nd. The shares were bought at an average cost of $55.96 per share, for a total transaction of $111,920.00. Following the completion of the acquisition, the chief executive officer now directly owns 35,251 shares of the company’s stock, valued at approximately $1,972,645.96. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Robert T. Macalik purchased 500 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were acquired at an average cost of $54.50 per share, for a total transaction of $27,250.00. Following the completion of the transaction, the chief accounting officer now directly owns 29,300 shares in the company, valued at approximately $1,596,850. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 12,300 shares of company stock worth $634,615. Insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Essex Investment Management Co. LLC raised its position in Matador Resources by 0.5% during the first quarter. Essex Investment Management Co. LLC now owns 37,532 shares of the energy company’s stock worth $2,506,000 after acquiring an additional 169 shares in the last quarter. Securian Asset Management Inc. raised its holdings in shares of Matador Resources by 1.9% in the 2nd quarter. Securian Asset Management Inc. now owns 9,255 shares of the energy company’s stock valued at $552,000 after purchasing an additional 170 shares during the period. Raymond James Trust N.A. lifted its stake in Matador Resources by 3.6% in the 2nd quarter. Raymond James Trust N.A. now owns 5,714 shares of the energy company’s stock valued at $341,000 after purchasing an additional 198 shares during the last quarter. Covestor Ltd grew its holdings in Matador Resources by 121.4% during the first quarter. Covestor Ltd now owns 414 shares of the energy company’s stock worth $28,000 after purchasing an additional 227 shares during the period. Finally, Fifth Third Bancorp increased its position in Matador Resources by 16.6% during the second quarter. Fifth Third Bancorp now owns 1,709 shares of the energy company’s stock worth $102,000 after buying an additional 243 shares during the last quarter. Institutional investors and hedge funds own 91.98% 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.