Matador Resources Forecasted to Earn Q3 2022 Earnings of $2.91 Per Share (NYSE:MTDR)

Matador Resources (NYSE:MTDRGet Rating) – Equities researchers at KeyCorp issued their Q3 2022 EPS estimates for Matador Resources in a report issued on Monday, September 19th. KeyCorp analyst T. Rezvan expects that the energy company will post earnings of $2.91 per share for the quarter. KeyCorp currently has a “Overweight” rating and a $72.00 price objective on the stock. The consensus estimate for Matador Resources’ current full-year earnings is $11.05 per share. KeyCorp also issued estimates for Matador Resources’ Q4 2022 earnings at $2.92 EPS, FY2022 earnings at $11.60 EPS, Q1 2023 earnings at $3.00 EPS, Q2 2023 earnings at $2.41 EPS, Q3 2023 earnings at $2.40 EPS, Q4 2023 earnings at $2.60 EPS and FY2023 earnings at $10.41 EPS.

Matador Resources (NYSE:MTDRGet Rating) last released its quarterly earnings data on Tuesday, July 26th. The energy company reported $3.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.16 by $0.31. Matador Resources had a net margin of 40.86% and a return on equity of 43.58%. The firm had revenue of $943.93 million for the quarter, compared to analysts’ expectations of $829.21 million. During the same quarter in the previous year, the company earned $1.02 earnings per share.

Separately, MKM Partners reiterated a “buy” rating and set a $68.00 price target on shares of Matador Resources in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.78.

Matador Resources Price Performance

Shares of NYSE MTDR opened at $53.71 on Thursday. Matador Resources has a 1 year low of $32.26 and a 1 year high of $67.78. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.31 and a quick ratio of 1.29. The company’s 50-day moving average is $56.39 and its 200 day moving average is $54.33. The stock has a market capitalization of $6.34 billion, a P/E ratio of 6.17 and a beta of 3.64.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. ExodusPoint Capital Management LP bought a new position in shares of Matador Resources in the second quarter worth approximately $2,543,000. Goldman Sachs Group Inc. lifted its position in Matador Resources by 51.6% during the second quarter. Goldman Sachs Group Inc. now owns 2,013,942 shares of the energy company’s stock valued at $93,830,000 after purchasing an additional 685,220 shares during the period. Captrust Financial Advisors lifted its position in Matador Resources by 19.9% during the second quarter. Captrust Financial Advisors now owns 60,944 shares of the energy company’s stock valued at $2,839,000 after purchasing an additional 10,104 shares during the period. Neo Ivy Capital Management bought a new position in Matador Resources during the second quarter valued at approximately $129,000. Finally, CastleArk Alternatives LLC bought a new position in Matador Resources during the second quarter valued at approximately $415,000. Institutional investors own 88.32% of the company’s stock.

Matador Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Wednesday, August 17th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, August 16th. This represents a $0.40 annualized dividend and a yield of 0.74%. This is a positive change from Matador Resources’s previous quarterly dividend of $0.05. Matador Resources’s payout ratio is presently 4.59%.

Matador Resources Company Profile

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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.

Further Reading

Earnings History and Estimates for Matador Resources (NYSE:MTDR)

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