Matador Resources (NYSE:MTDR) Releases Earnings Results

Matador Resources (NYSE:MTDR) issued its earnings results on Tuesday. The energy company reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.11, Briefing.com reports. The business had revenue of $770.20 million during the quarter, compared to the consensus estimate of $836.69 million. Matador Resources had a return on equity of 21.12% and a net margin of 29.01%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the company earned $1.86 EPS.

Matador Resources Price Performance

Matador Resources stock opened at $50.76 on Thursday. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 0.41. Matador Resources has a 52-week low of $47.15 and a 52-week high of $71.08. The firm has a market cap of $6.33 billion, a PE ratio of 6.95 and a beta of 3.26. The company’s 50 day moving average is $52.93 and its two-hundred day moving average is $58.36.

Matador Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.97%. This is a boost from Matador Resources’s previous quarterly dividend of $0.20. Matador Resources’s payout ratio is 13.70%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on MTDR shares. Wolfe Research assumed coverage on shares of Matador Resources in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. KeyCorp cut their price target on shares of Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Royal Bank of Canada reiterated an “outperform” rating and issued a $75.00 price objective on shares of Matador Resources in a report on Friday, September 27th. Mizuho lowered their price objective on Matador Resources from $85.00 to $74.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Finally, BMO Capital Markets lifted their target price on Matador Resources from $75.00 to $78.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Matador Resources presently has an average rating of “Moderate Buy” and an average target price of $75.69.

Insiders Place Their Bets

In related news, Director Robert Gaines Baty acquired 500 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were acquired at an average price of $50.58 per share, with a total value of $25,290.00. Following the completion of the transaction, the director now owns 67,617 shares of the company’s stock, valued at $3,420,067.86. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Robert Gaines Baty purchased 500 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was bought at an average price of $50.58 per share, for a total transaction of $25,290.00. Following the completion of the purchase, the director now directly owns 67,617 shares of the company’s stock, valued at $3,420,067.86. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Joseph Wm Foran bought 2,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were purchased at an average price of $55.96 per share, with a total value of $111,920.00. Following the purchase, the chief executive officer now owns 35,251 shares of the company’s stock, valued at approximately $1,972,645.96. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 12,300 shares of company stock worth $634,615 over the last 90 days. Corporate insiders own 6.10% of the company’s stock.

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.