Matador Resources to Post Q3 2024 Earnings of $2.04 Per Share, Capital One Financial Forecasts (NYSE:MTDR)

Matador Resources (NYSE:MTDR) – Equities researchers at Capital One Financial lifted their Q3 2024 EPS estimates for Matador Resources in a note issued to investors on Wednesday, April 24th. Capital One Financial analyst P. Johnston now forecasts that the energy company will post earnings per share of $2.04 for the quarter, up from their previous estimate of $1.97. The consensus estimate for Matador Resources’ current full-year earnings is $7.50 per share. Capital One Financial also issued estimates for Matador Resources’ Q4 2024 earnings at $2.13 EPS, FY2024 earnings at $7.70 EPS, FY2025 earnings at $9.01 EPS and FY2026 earnings at $9.07 EPS.

Other research analysts have also issued reports about the company. Benchmark reduced their price objective on Matador Resources from $71.00 to $62.00 and set a “buy” rating for the company in a research report on Tuesday, April 23rd. Wells Fargo & Company upped their price target on Matador Resources from $76.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. JPMorgan Chase & Co. upped their price objective on shares of Matador Resources from $76.00 to $77.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. KeyCorp increased their target price on Matador Resources from $71.00 to $76.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Finally, StockNews.com raised shares of Matador Resources from a “sell” rating to a “hold” rating in a research note on Thursday, February 22nd. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Matador Resources has a consensus rating of “Moderate Buy” and a consensus price target of $74.30.

Matador Resources Price Performance

Shares of Matador Resources stock opened at $66.15 on Monday. The stock has a market capitalization of $7.91 billion, a price-to-earnings ratio of 9.06 and a beta of 3.32. The company has a current ratio of 0.89, a quick ratio of 0.84 and a debt-to-equity ratio of 0.43. Matador Resources has a 1-year low of $42.04 and a 1-year high of $71.08. The firm has a fifty day simple moving average of $65.50 and a 200-day simple moving average of $60.25.

Matador Resources (NYSE:MTDR) last released its quarterly earnings results on Tuesday, April 23rd. The energy company reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.32. Matador Resources had a return on equity of 20.62% and a net margin of 28.89%. The company had revenue of $787.70 million during the quarter, compared to the consensus estimate of $740.99 million. During the same quarter in the prior year, the company posted $1.50 EPS. The firm’s revenue was up 40.6% on a year-over-year basis.

Matador Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, May 16th. This represents a $0.80 annualized dividend and a dividend yield of 1.21%. Matador Resources’s payout ratio is currently 10.96%.

Hedge Funds Weigh In On Matador Resources

Institutional investors and hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. increased its holdings in Matador Resources by 38.5% during the 1st quarter. Principal Financial Group Inc. now owns 1,028,997 shares of the energy company’s stock worth $68,706,000 after purchasing an additional 285,954 shares in the last quarter. Meritage Portfolio Management lifted its stake in Matador Resources by 38.5% in the 1st quarter. Meritage Portfolio Management now owns 112,179 shares of the energy company’s stock valued at $7,490,000 after purchasing an additional 31,189 shares during the last quarter. Caas Capital Management LP bought a new position in shares of Matador Resources during the 1st quarter worth approximately $334,000. Opus Capital Group LLC boosted its position in Matador Resources by 24.9% during the first quarter. Opus Capital Group LLC now owns 5,020 shares of the energy company’s stock worth $335,000 after purchasing an additional 1,000 shares during the period. Finally, Shaker Investments LLC OH boosted its holdings in shares of Matador Resources by 1.1% during the 1st quarter. Shaker Investments LLC OH now owns 27,345 shares of the energy company’s stock worth $1,826,000 after buying an additional 297 shares during the period. Institutional investors and hedge funds own 91.98% of the company’s stock.

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.