FY2024 EPS Forecast for Matador Resources Lifted by Analyst

Matador Resources (NYSE:MTDR) – Equities research analysts at Capital One Financial increased their FY2024 EPS estimates for Matador Resources in a research note issued to investors on Wednesday, January 8th. Capital One Financial analyst P. Johnston now anticipates that the energy company will post earnings per share of $7.38 for the year, up from their previous estimate of $7.35. The consensus estimate for Matador Resources’ current full-year earnings is $7.49 per share. Capital One Financial also issued estimates for Matador Resources’ Q4 2024 earnings at $1.73 EPS.

Matador Resources (NYSE:MTDR) last released its quarterly earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.11. The firm had revenue of $770.20 million for the quarter, compared to the consensus estimate of $836.69 million. Matador Resources had a return on equity of 20.01% and a net margin of 27.45%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the business posted $1.86 EPS.

Several other equities analysts have also recently weighed in on the stock. Truist Financial lowered their price objective on shares of Matador Resources from $86.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Stephens upped their target price on shares of Matador Resources from $78.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Wolfe Research upgraded shares of Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 price target on the stock in a research note on Friday, January 3rd. KeyCorp reduced their price objective on Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Finally, Benchmark reiterated a “buy” rating and set a $62.00 target price on shares of Matador Resources in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $74.54.

Matador Resources Stock Up 0.3 %

MTDR stock opened at $59.92 on Friday. The business’s 50-day moving average is $56.96 and its two-hundred day moving average is $56.02. The company has a market cap of $7.48 billion, a price-to-earnings ratio of 7.94 and a beta of 3.24. Matador Resources has a fifty-two week low of $47.15 and a fifty-two week high of $71.08. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.88.

Matador Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 15th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.67%. This is an increase from Matador Resources’s previous quarterly dividend of $0.20. The ex-dividend date was Friday, November 15th. Matador Resources’s dividend payout ratio is presently 13.25%.

Insider Buying and Selling at Matador Resources

In other Matador Resources news, CEO Joseph Wm Foran acquired 2,000 shares of the company’s stock in a transaction on Friday, December 6th. The stock was acquired at an average cost of $55.18 per share, with a total value of $110,360.00. Following the purchase, the chief executive officer now directly owns 42,251 shares of the company’s stock, valued at approximately $2,331,410.18. This represents a 4.97 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP William Thomas Elsener purchased 800 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were purchased at an average price of $56.60 per share, for a total transaction of $45,280.00. Following the completion of the acquisition, the executive vice president now directly owns 102,964 shares in the company, valued at $5,827,762.40. The trade was a 0.78 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 4,285 shares of company stock valued at $232,849 in the last three months. 6.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Matador Resources

A number of institutional investors have recently modified their holdings of MTDR. True Wealth Design LLC acquired a new position in shares of Matador Resources during the third quarter valued at about $37,000. Denver PWM LLC lifted its stake in shares of Matador Resources by 67.2% in the third quarter. Denver PWM LLC now owns 754 shares of the energy company’s stock worth $37,000 after buying an additional 303 shares in the last quarter. Avior Wealth Management LLC raised its holdings in shares of Matador Resources by 329.0% during the 3rd quarter. Avior Wealth Management LLC now owns 828 shares of the energy company’s stock worth $41,000 after acquiring an additional 635 shares during the period. Quarry LP raised its position in Matador Resources by 47.5% in the second quarter. Quarry LP now owns 779 shares of the energy company’s stock valued at $46,000 after purchasing an additional 251 shares during the period. Finally, Covestor Ltd lifted its stake in Matador Resources by 154.8% during the third quarter. Covestor Ltd now owns 1,060 shares of the energy company’s stock worth $52,000 after purchasing an additional 644 shares in the last quarter. 91.98% of the stock is owned by hedge funds and other institutional investors.

About Matador Resources

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.