Matador Resources (NYSE:MTDR) Expected to Post Q1 2023 Earnings of $1.28 Per Share

Posted by on Apr 24th, 2023

Matador Resources (NYSE:MTDR – Get Rating) – Equities researchers at Zacks Research decreased their Q1 2023 earnings estimates for Matador Resources in a research report issued to clients and investors on Thursday, April 20th. Zacks Research analyst U. Dutta now expects that the energy company will post earnings per share of $1.28 for the quarter, down from their previous estimate of $1.30. The consensus estimate for Matador Resources’ current full-year earnings is $6.69 per share. Zacks Research also issued estimates for Matador Resources’ Q2 2023 earnings at $1.32 EPS, FY2023 earnings at $5.98 EPS, Q1 2024 earnings at $1.65 EPS, Q2 2024 earnings at $1.41 EPS, FY2024 earnings at $6.57 EPS, Q1 2025 earnings at $1.78 EPS and FY2025 earnings at $7.51 EPS.

Matador Resources (NYSE:MTDR – Get Rating) last issued its quarterly earnings results on Wednesday, February 22nd. The energy company reported $2.08 EPS for the quarter, topping the consensus estimate of $1.95 by $0.13. Matador Resources had a net margin of 39.71% and a return on equity of 44.14%. The business had revenue of $707.48 million for the quarter, compared to analysts’ expectations of $651.11 million. During the same quarter last year, the company posted $1.26 earnings per share.

Several other equities analysts have also recently commented on MTDR. Royal Bank of Canada reaffirmed an “outperform” rating and set a $78.00 price target on shares of Matador Resources in a research report on Thursday, February 23rd. Roth Capital reiterated a “buy” rating on shares of Matador Resources in a research note on Friday, February 17th. KeyCorp dropped their price target on shares of Matador Resources from $73.00 to $67.00 in a research note on Monday, February 27th. Cowen raised their price target on shares of Matador Resources from $67.00 to $78.00 and gave the company an “outperform” rating in a research note on Wednesday, January 25th. Finally, Mizuho dropped their price target on shares of Matador Resources from $72.00 to $66.00 in a research note on Friday, March 10th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $70.56.

Matador Resources Stock Performance

Shares of MTDR stock opened at $49.13 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.83 and a current ratio of 1.86. Matador Resources has a one year low of $41.17 and a one year high of $73.78. The company’s 50-day simple moving average is $52.13 and its 200-day simple moving average is $58.86. The stock has a market capitalization of $5.85 billion, a price-to-earnings ratio of 4.85 and a beta of 3.53.

Matador Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Thursday, May 11th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Wednesday, May 10th. Matador Resources’s dividend payout ratio is 5.92%.

Insider Buying and Selling

In other news, insider Billy E. Goodwin acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 16th. The stock was purchased at an average price of $44.52 per share, with a total value of $44,520.00. Following the purchase, the insider now owns 286,624 shares of the company’s stock, valued at approximately $12,760,500.48. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Joseph Wm Foran bought 2,000 shares of the firm’s stock in a transaction on Monday, March 13th. The stock was bought at an average price of $48.77 per share, with a total value of $97,540.00. Following the purchase, the chief executive officer now directly owns 171,468 shares of the company’s stock, valued at approximately $8,362,494.36. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Billy E. Goodwin bought 1,000 shares of the firm’s stock in a transaction on Thursday, March 16th. The shares were bought at an average cost of $44.52 per share, with a total value of $44,520.00. Following the purchase, the insider now directly owns 286,624 shares in the company, valued at $12,760,500.48. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 10,300 shares of company stock valued at $465,035. Company insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Matador Resources

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Matador Resources by 4.8% during the 1st quarter. Vanguard Group Inc. now owns 12,422,915 shares of the energy company’s stock valued at $658,165,000 after buying an additional 567,557 shares during the period. State Street Corp raised its holdings in shares of Matador Resources by 7.0% during the 1st quarter. State Street Corp now owns 5,777,669 shares of the energy company’s stock valued at $306,101,000 after purchasing an additional 377,853 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Matador Resources by 82.9% during the 1st quarter. Invesco Ltd. now owns 4,367,715 shares of the energy company’s stock valued at $231,403,000 after purchasing an additional 1,979,904 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Matador Resources by 3.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 4,326,071 shares of the energy company’s stock valued at $201,552,000 after purchasing an additional 135,179 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of Matador Resources by 6.8% during the 3rd quarter. Alliancebernstein L.P. now owns 4,297,740 shares of the energy company’s stock valued at $210,245,000 after purchasing an additional 273,444 shares in the last quarter. Institutional investors and hedge funds own 87.00% of the company’s stock.

About Matador Resources

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Matador Resources Co is a holding company, which engages in the exploration, development, production, and acquisition of oil and natural gas resources. It operates through the following segments: Exploration and Production, Midstream, and Corporate. The Exploration and Production segment focuses on the exploration, development, production, and acquisition of oil and liquids-rich portion of the Wolfcamp and Bone Spring.

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Earnings History and Estimates for Matador Resources (NYSE:MTDR)

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