Matador Resources (NYSE:MTDR) to Post FY2023 Earnings of $6.45 Per Share, Zacks Research Forecasts

Matador Resources (NYSE:MTDR – Get Rating) – Equities researchers at Zacks Research upped their FY2023 EPS estimates for Matador Resources in a report issued on Tuesday, May 9th. Zacks Research analyst U. Dutta now anticipates that the energy company will post earnings per share of $6.45 for the year, up from their prior estimate of $5.98. The consensus estimate for Matador Resources’ current full-year earnings is $6.91 per share. Zacks Research also issued estimates for Matador Resources’ Q2 2024 earnings at $1.81 EPS and FY2024 earnings at $7.20 EPS.

MTDR has been the topic of a number of other research reports. Cowen increased their price target on shares of Matador Resources from $67.00 to $78.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 25th. Truist Financial increased their price target on shares of Matador Resources from $68.00 to $72.00 and gave the stock a “buy” rating in a research note on Tuesday, April 11th. Raymond James increased their price target on shares of Matador Resources from $57.00 to $61.00 and gave the stock an “outperform” rating in a research note on Friday, April 21st. StockNews.com began coverage on shares of Matador Resources in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $78.00 target price on shares of Matador Resources in a research note on Thursday, February 23rd. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Matador Resources has a consensus rating of “Moderate Buy” and a consensus price target of $70.56.

Matador Resources Stock Performance

NYSE:MTDR opened at $43.64 on Friday. The company has a quick ratio of 1.64, a current ratio of 1.67 and a debt-to-equity ratio of 0.34. The company has a market cap of $5.20 billion, a P/E ratio of 4.47 and a beta of 3.54. Matador Resources has a fifty-two week low of $41.17 and a fifty-two week high of $73.78. The firm’s 50 day moving average is $48.43 and its two-hundred day moving average is $57.13.

Matador Resources (NYSE:MTDR – Get Rating) last announced its earnings results on Tuesday, April 25th. The energy company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.26. The firm had revenue of $502.90 million for the quarter, compared to analyst estimates of $514.24 million. Matador Resources had a net margin of 38.33% and a return on equity of 37.11%. Matador Resources’s revenue was down 19.7% compared to the same quarter last year. During the same quarter last year, the business earned $2.32 earnings per share.

Matador Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Thursday, May 11th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Wednesday, May 10th. Matador Resources’s dividend payout ratio (DPR) is 6.15%.

Insider Buying and Selling

In other news, Director Timothy E. Parker purchased 4,500 shares of the company’s stock in a transaction that occurred on Thursday, March 16th. The shares were purchased at an average price of $43.52 per share, with a total value of $195,840.00. Following the purchase, the director now directly owns 71,636 shares of the company’s stock, valued at approximately $3,117,598.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Timothy E. Parker acquired 4,500 shares of the firm’s stock in a transaction on Thursday, March 16th. The stock was bought at an average cost of $43.52 per share, with a total value of $195,840.00. Following the acquisition, the director now directly owns 71,636 shares in the company, valued at $3,117,598.72. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Joseph Wm Foran acquired 2,000 shares of the firm’s stock in a transaction on Monday, March 13th. The shares were bought at an average cost of $48.77 per share, with a total value of $97,540.00. Following the completion of the acquisition, the chief executive officer now owns 171,468 shares in the company, valued at $8,362,494.36. The disclosure for this purchase can be found here. Insiders have bought 12,300 shares of company stock valued at $549,835 in the last quarter. Company insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Matador Resources by 4.8% during the 1st quarter. Vanguard Group Inc. now owns 12,422,915 shares of the energy company’s stock worth $658,165,000 after acquiring an additional 567,557 shares in the last quarter. State Street Corp boosted its holdings in shares of Matador Resources by 7.0% in the 1st quarter. State Street Corp now owns 5,777,669 shares of the energy company’s stock valued at $306,101,000 after buying an additional 377,853 shares during the period. Invesco Ltd. boosted its holdings in shares of Matador Resources by 82.9% in the 1st quarter. Invesco Ltd. now owns 4,367,715 shares of the energy company’s stock valued at $231,403,000 after buying an additional 1,979,904 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Matador Resources by 3.2% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 4,326,071 shares of the energy company’s stock valued at $201,552,000 after buying an additional 135,179 shares during the period. Finally, Alliancebernstein L.P. boosted its holdings in shares of Matador Resources by 6.8% in the 3rd quarter. Alliancebernstein L.P. now owns 4,297,740 shares of the energy company’s stock valued at $210,245,000 after buying an additional 273,444 shares during the period. 87.00% of the stock is owned by institutional investors and hedge funds.

Matador Resources Company Profile

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Matador Resources Co is a holding company, which engages in the exploration, development, production, and acquisition of oil and natural gas resources. It operates through the following segments: Exploration and Production, Midstream, and Corporate. The Exploration and Production segment focuses on the exploration, development, production, and acquisition of oil and liquids-rich portion of the Wolfcamp and Bone Spring.