Matador Resources (NYSE:MTDR) Issues Earnings Results

Matador Resources (NYSE:MTDR) released its earnings results on Tuesday. The energy company reported $1.89 earnings per share for the quarter, beating 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 net margin of 27.45% and a return on equity of 20.63%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.86 EPS.

Matador Resources Stock Up 2.1 %

NYSE MTDR traded up $1.11 during mid-day trading on Friday, hitting $53.51. The company’s stock had a trading volume of 150,800 shares, compared to its average volume of 1,510,715. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 0.41. The company’s 50 day simple moving average is $52.83 and its 200 day simple moving average is $58.32. Matador Resources has a twelve month low of $47.15 and a twelve month high of $71.08. The firm has a market capitalization of $6.68 billion, a price-to-earnings ratio of 6.94 and a beta of 3.26.

Matador Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 annualized dividend and a yield of 1.87%. This is an increase from Matador Resources’s previous quarterly dividend of $0.20. Matador Resources’s dividend payout ratio (DPR) is presently 10.60%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. KeyCorp decreased their target price on shares of Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Benchmark reissued a “buy” rating and set a $62.00 target price on shares of Matador Resources in a research report on Wednesday. Mizuho reduced their price objective on shares of Matador Resources from $85.00 to $74.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. TD Cowen raised their price objective on shares of Matador Resources from $85.00 to $87.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Truist Financial reduced their price objective on shares of Matador Resources from $86.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $75.31.

Insider Buying and Selling at Matador Resources

In related news, CAO Robert T. Macalik acquired 500 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were acquired at an average cost of $54.50 per share, for a total transaction of $27,250.00. Following the purchase, the chief accounting officer now owns 29,300 shares in the company, valued at approximately $1,596,850. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CAO Robert T. Macalik acquired 500 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were acquired at an average cost of $54.50 per share, for a total transaction of $27,250.00. Following the purchase, the chief accounting officer now owns 29,300 shares in the company, valued at approximately $1,596,850. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Joseph Wm Foran acquired 2,000 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were bought at an average price of $55.96 per share, for a total transaction of $111,920.00. Following the completion of the purchase, the chief executive officer now owns 35,251 shares in the company, 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. In the last three months, insiders have purchased 12,300 shares of company stock worth $634,615. Corporate insiders own 6.10% 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.