Brokers Issue Forecasts for Matador Resources’ Q3 2024 Earnings (NYSE:MTDR)

Matador Resources (NYSE:MTDR) – Capital One Financial lowered their Q3 2024 EPS estimates for Matador Resources in a research note issued on Tuesday, September 17th. Capital One Financial analyst P. Johnston now forecasts that the energy company will post earnings per share of $1.57 for the quarter, down from their previous estimate of $1.94. Capital One Financial currently has a “Overweight” rating and a $84.00 price target on the stock. The consensus estimate for Matador Resources’ current full-year earnings is $7.83 per share. Capital One Financial also issued estimates for Matador Resources’ Q4 2024 earnings at $1.70 EPS, FY2024 earnings at $7.03 EPS, Q1 2025 earnings at $1.58 EPS, Q2 2025 earnings at $1.63 EPS, Q3 2025 earnings at $1.70 EPS, Q4 2025 earnings at $1.75 EPS, FY2025 earnings at $6.66 EPS and FY2026 earnings at $7.55 EPS.

Matador Resources (NYSE:MTDR) last issued its earnings results on Tuesday, July 23rd. The energy company reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.29. Matador Resources had a net margin of 29.01% and a return on equity of 21.12%. The business had revenue of $847.14 million for the quarter, compared to analyst estimates of $822.55 million. During the same period in the previous year, the business earned $1.42 EPS. The firm’s revenue was up 32.8% on a year-over-year basis.

MTDR has been the topic of several other reports. Wells Fargo & Company upped their price objective on shares of Matador Resources from $88.00 to $89.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. dropped their price target on Matador Resources from $83.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Truist Financial reduced their price objective on Matador Resources from $91.00 to $86.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. TD Cowen raised their target price on Matador Resources from $85.00 to $87.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Mizuho cut their price target on Matador Resources from $85.00 to $74.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $77.17.

Matador Resources Price Performance

Shares of MTDR stock opened at $52.20 on Friday. The stock’s fifty day simple moving average is $56.40 and its 200 day simple moving average is $60.75. Matador Resources has a one year low of $48.22 and a one year high of $71.08. The firm has a market cap of $6.51 billion, a price-to-earnings ratio of 7.15 and a beta of 3.27. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.86 and a quick ratio of 0.82.

Institutional Trading of Matador Resources

Hedge funds and other institutional investors have recently made changes to their positions in the business. Essex Investment Management Co. LLC raised its holdings in Matador Resources by 0.5% during the first quarter. Essex Investment Management Co. LLC now owns 37,532 shares of the energy company’s stock worth $2,506,000 after acquiring an additional 169 shares in the last quarter. Securian Asset Management Inc. boosted its holdings in shares of Matador Resources by 1.9% in the 2nd quarter. Securian Asset Management Inc. now owns 9,255 shares of the energy company’s stock valued at $552,000 after buying an additional 170 shares during the last quarter. Raymond James Trust N.A. grew its stake in shares of Matador Resources by 3.6% in the second quarter. Raymond James Trust N.A. now owns 5,714 shares of the energy company’s stock valued at $341,000 after buying an additional 198 shares in the last quarter. Covestor Ltd increased its holdings in Matador Resources by 121.4% during the first quarter. Covestor Ltd now owns 414 shares of the energy company’s stock worth $28,000 after buying an additional 227 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in Matador Resources by 16.6% during the second quarter. Fifth Third Bancorp now owns 1,709 shares of the energy company’s stock worth $102,000 after acquiring an additional 243 shares in the last quarter. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Matador Resources news, CEO Joseph Wm Foran acquired 2,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were acquired at an average price of $55.96 per share, for a total transaction of $111,920.00. Following the acquisition, the chief executive officer now directly owns 35,251 shares of the company’s stock, valued at approximately $1,972,645.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Joseph Wm Foran acquired 2,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average cost of $55.96 per share, for a total transaction of $111,920.00. Following the completion of the acquisition, the chief executive officer now directly owns 35,251 shares in the company, valued at approximately $1,972,645.96. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Robert T. Macalik bought 500 shares of Matador Resources stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average cost of $50.25 per share, with a total value of $25,125.00. Following the completion of the purchase, the chief accounting officer now owns 29,800 shares in the company, valued at approximately $1,497,450. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 12,300 shares of company stock worth $634,615. Corporate insiders own 6.10% of the company’s stock.

Matador Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 15th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend was Thursday, August 15th. Matador Resources’s 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.