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Matador Resources (NYSE:MTDR – Get Rating) – Stock analysts at Capital One Financial raised their Q3 2023 earnings per share estimates for Matador Resources in a research report issued to clients and investors on Thursday, March 16th. Capital One Financial analyst P. Johnston now anticipates that the energy company will post earnings per share of $1.99 for the quarter, up from their previous estimate of $1.98. The consensus estimate for Matador Resources’ current full-year earnings is $8.72 per share. Capital One Financial also issued estimates for Matador Resources’ Q4 2023 earnings at $2.08 EPS and FY2024 earnings at $8.22 EPS.
Several other equities analysts have also recently weighed in on the company. KeyCorp cut their price target on Matador Resources from $73.00 to $67.00 in a report on Monday, February 27th. Cowen raised their price target on Matador Resources from $67.00 to $78.00 and gave the company an “outperform” rating in a report on Wednesday, January 25th. StockNews.com assumed coverage on Matador Resources in a report on Thursday. They set a “hold” rating for the company. Mizuho cut their price target on Matador Resources from $72.00 to $66.00 in a report on Friday, March 10th. Finally, Truist Financial cut their price target on Matador Resources from $79.00 to $68.00 and set a “buy” rating for the company in a report on Thursday, February 23rd. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Matador Resources currently has an average rating of “Moderate Buy” and an average target price of $71.25.
Matador Resources Stock Performance
NYSE:MTDR opened at $45.60 on Friday. The stock has a market capitalization of $5.43 billion, a P/E ratio of 4.50 and a beta of 3.55. The stock has a 50-day moving average price of $58.89 and a 200 day moving average price of $60.09. The company has a current ratio of 1.86, a quick ratio of 1.83 and a debt-to-equity ratio of 0.35. Matador Resources has a 12-month low of $41.17 and a 12-month high of $73.78.
Matador Resources (NYSE:MTDR – Get Rating) last released its earnings results on Wednesday, February 22nd. The energy company reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.13. Matador Resources had a return on equity of 44.14% and a net margin of 39.71%. The firm had revenue of $707.48 million during the quarter, compared to analysts’ expectations of $651.11 million. During the same quarter last year, the business posted $1.26 earnings per share.
Institutional Trading of Matador Resources
Several large investors have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. grew its stake in Matador Resources by 46.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 760 shares of the energy company’s stock valued at $42,000 after purchasing an additional 242 shares during the last quarter. Goehring & Rozencwajg Associates LLC purchased a new stake in Matador Resources during the 4th quarter valued at about $11,120,000. Voya Investment Management LLC grew its stake in Matador Resources by 3.5% during the 4th quarter. Voya Investment Management LLC now owns 497,653 shares of the energy company’s stock valued at $28,486,000 after purchasing an additional 16,831 shares during the last quarter. Trust Investment Advisors purchased a new stake in Matador Resources during the 4th quarter valued at about $392,000. Finally, Natixis purchased a new stake in Matador Resources during the 4th quarter valued at about $4,322,000. Hedge funds and other institutional investors own 87.00% of the company’s stock.
Insider Transactions at Matador Resources
In related news, CEO Joseph Wm Foran bought 2,000 shares of the company’s stock in a transaction dated Wednesday, March 15th. The stock was purchased at an average price of $44.75 per share, for a total transaction of $89,500.00. Following the acquisition, the chief executive officer now owns 173,468 shares in the company, valued at $7,762,693. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In the last 90 days, insiders purchased 4,800 shares of company stock worth $224,675. 5.60% of the stock is currently owned by company insiders.
Matador Resources Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, March 9th. Stockholders of record on Monday, February 27th were issued a $0.15 dividend. This is a boost from Matador Resources’s previous quarterly dividend of $0.10. The ex-dividend date was Friday, February 24th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.32%. Matador Resources’s payout ratio is 5.92%.
About Matador Resources
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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