Matador Resources (NYSE:MTDR) Announces Earnings Results

Matador Resources (NYSE:MTDR) posted its quarterly earnings results on Wednesday. The energy company reported $0.30 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.11, Briefing.com reports. The business had revenue of $241.70 million for the quarter, compared to analysts’ expectations of $210.42 million. Matador Resources had a return on equity of 9.57% and a net margin of 22.37%. The business’s quarterly revenue was up 14.3% on a year-over-year basis. During the same period last year, the firm earned $0.41 earnings per share.

NYSE MTDR traded down $0.62 during trading hours on Thursday, hitting $17.01. 7,532,700 shares of the company were exchanged, compared to its average volume of 2,426,245. The stock has a 50-day moving average price of $18.25. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.78. Matador Resources has a 52 week low of $13.97 and a 52 week high of $34.90. The stock has a market capitalization of $2.09 billion, a PE ratio of 10.50, a PEG ratio of 0.88 and a beta of 1.98.

Several equities research analysts have recently issued reports on the company. Stephens raised Matador Resources from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $22.00 to $24.00 in a report on Tuesday, July 23rd. ValuEngine raised Matador Resources from a “strong sell” rating to a “sell” rating in a report on Thursday. MKM Partners raised Matador Resources from a “neutral” rating to a “buy” rating and set a $22.00 target price on the stock in a report on Tuesday, May 28th. JPMorgan Chase & Co. raised Matador Resources from a “neutral” rating to an “overweight” rating and reduced their target price for the stock from $28.00 to $26.00 in a report on Friday, June 7th. Finally, Wells Fargo & Co set a $33.00 target price on Matador Resources and gave the stock a “hold” rating in a report on Thursday, July 11th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company. Matador Resources has a consensus rating of “Buy” and an average price target of $32.40.

In other Matador Resources news, President Matthew V. Hairford bought 2,000 shares of the company’s stock in a transaction on Friday, June 7th. The stock was acquired at an average price of $16.78 per share, for a total transaction of $33,560.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenneth L. Stewart bought 5,000 shares of the company’s stock in a transaction on Friday, May 24th. The shares were acquired at an average price of $17.76 per share, with a total value of $88,800.00. Following the transaction, the director now directly owns 37,532 shares of the company’s stock, valued at $666,568.32. The disclosure for this purchase can be found here. Insiders have acquired 13,000 shares of company stock worth $222,160 over the last three months. 6.90% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the business. Geode Capital Management LLC boosted its position in shares of Matador Resources by 7.4% during the fourth quarter. Geode Capital Management LLC now owns 1,098,757 shares of the energy company’s stock valued at $17,063,000 after buying an additional 75,623 shares during the period. Advisor Group Inc. boosted its position in shares of Matador Resources by 16.3% during the fourth quarter. Advisor Group Inc. now owns 11,529 shares of the energy company’s stock valued at $179,000 after buying an additional 1,615 shares during the period. Oak Ridge Investments LLC boosted its position in shares of Matador Resources by 4.6% during the first quarter. Oak Ridge Investments LLC now owns 381,196 shares of the energy company’s stock valued at $7,369,000 after buying an additional 16,687 shares during the period. Chartwell Investment Partners LLC boosted its position in shares of Matador Resources by 43.5% during the first quarter. Chartwell Investment Partners LLC now owns 173,987 shares of the energy company’s stock valued at $3,363,000 after buying an additional 52,726 shares during the period. Finally, Pier Capital LLC boosted its position in shares of Matador Resources by 14.0% during the first quarter. Pier Capital LLC now owns 397,044 shares of the energy company’s stock valued at $7,675,000 after buying an additional 48,911 shares during the period. Institutional investors and hedge funds own 95.04% 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 in 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.

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Earnings History for Matador Resources (NYSE:MTDR)

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