Matador Resources (NYSE:MTDR) to Post Q3 2024 Earnings of $1.99 Per Share, Zacks Research Forecasts

Matador Resources (NYSE:MTDR) – Research analysts at Zacks Research boosted their Q3 2024 earnings per share (EPS) estimates for shares of Matador Resources in a research note issued to investors on Tuesday, May 7th. Zacks Research analyst N. Banerjee now expects that the energy company will post earnings of $1.99 per share for the quarter, up from their prior forecast of $1.88. The consensus estimate for Matador Resources’ current full-year earnings is $7.57 per share. Zacks Research also issued estimates for Matador Resources’ Q4 2024 earnings at $1.94 EPS, FY2024 earnings at $7.36 EPS, Q1 2025 earnings at $1.92 EPS, Q2 2025 earnings at $1.88 EPS and Q4 2025 earnings at $1.97 EPS.

Matador Resources (NYSE:MTDR) last issued its earnings results on Tuesday, April 23rd. The energy company reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $740.99 million. During the same period last year, the business earned $1.50 EPS. Matador Resources’s quarterly revenue was up 40.6% compared to the same quarter last year.

Other equities analysts also recently issued research reports about the company. KeyCorp lifted their price target on Matador Resources from $71.00 to $76.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. JPMorgan Chase & Co. increased their price target on Matador Resources from $76.00 to $77.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Royal Bank of Canada reissued an “outperform” rating and issued a $70.00 price objective on shares of Matador Resources in a research report on Tuesday, March 5th. Mizuho raised their target price on Matador Resources from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, Truist Financial boosted their price target on shares of Matador Resources from $85.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, April 26th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $74.30.

Matador Resources Trading Up 1.2 %

NYSE:MTDR opened at $65.00 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.89 and a quick ratio of 0.84. Matador Resources has a one year low of $42.15 and a one year high of $71.08. The company has a market cap of $8.11 billion, a PE ratio of 8.90 and a beta of 3.33. The firm has a 50-day moving average of $65.97 and a 200-day moving average of $60.26.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Parkside Financial Bank & Trust boosted its stake in Matador Resources by 82.0% during the third quarter. Parkside Financial Bank & Trust now owns 444 shares of the energy company’s stock valued at $26,000 after buying an additional 200 shares during the period. Oakworth Capital Inc. purchased a new position in shares of Matador Resources during the fourth quarter worth about $31,000. Financial Management Professionals Inc. bought a new position in shares of Matador Resources in the fourth quarter worth approximately $34,000. Rise Advisors LLC purchased a new stake in Matador Resources in the first quarter valued at approximately $34,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new stake in Matador Resources in the fourth quarter valued at approximately $35,000. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Matador Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Thursday, May 16th. Matador Resources’s dividend payout ratio is presently 10.96%.

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.