Brokers Issue Forecasts for Matador Resources’ Q1 2024 Earnings (NYSE:MTDR)

Matador Resources (NYSE:MTDR) – Equities researchers at Zacks Research boosted their Q1 2024 earnings per share (EPS) estimates for Matador Resources in a research report issued on Tuesday, April 16th. Zacks Research analyst N. Banerjee now expects that the energy company will post earnings of $1.36 per share for the quarter, up from their previous forecast of $1.34. The consensus estimate for Matador Resources’ current full-year earnings is $7.04 per share. Zacks Research also issued estimates for Matador Resources’ Q2 2024 earnings at $1.59 EPS, Q3 2024 earnings at $1.88 EPS, Q1 2025 earnings at $1.83 EPS, Q2 2025 earnings at $1.94 EPS, Q3 2025 earnings at $1.90 EPS, Q4 2025 earnings at $1.70 EPS, FY2025 earnings at $7.37 EPS and FY2026 earnings at $6.89 EPS.

Matador Resources (NYSE:MTDR) last posted its earnings results on Wednesday, February 21st. The energy company reported $1.99 EPS for the quarter, missing the consensus estimate of $2.04 by ($0.05). Matador Resources had a return on equity of 21.54% and a net margin of 30.14%. The business had revenue of $836.13 million for the quarter, compared to analysts’ expectations of $842.96 million. During the same quarter in the previous year, the firm earned $2.08 earnings per share. Matador Resources’s quarterly revenue was up 18.2% compared to the same quarter last year.

Several other research firms have also recently commented on MTDR. Mizuho boosted their target price on Matador Resources from $67.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. JPMorgan Chase & Co. upped their price objective on Matador Resources from $76.00 to $77.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Benchmark cut their price objective on Matador Resources from $71.00 to $62.00 and set a “buy” rating for the company in a report on Thursday, January 25th. Roth Mkm reiterated a “buy” rating and issued a $66.00 price objective on shares of Matador Resources in a report on Monday, March 25th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $70.00 price objective on shares of Matador Resources in a report on Tuesday, March 5th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Matador Resources presently has an average rating of “Moderate Buy” and an average price target of $73.40.

Matador Resources Price Performance

Matador Resources stock opened at $64.73 on Thursday. Matador Resources has a 52 week low of $42.04 and a 52 week high of $71.08. The business has a 50-day simple moving average of $64.52 and a 200 day simple moving average of $59.86. The company has a quick ratio of 0.98, a current ratio of 1.04 and a debt-to-equity ratio of 0.53. The stock has a market cap of $7.74 billion, a price-to-earnings ratio of 9.18 and a beta of 3.32.

Matador Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Friday, February 23rd were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend was Thursday, February 22nd. Matador Resources’s dividend payout ratio (DPR) is presently 11.35%.

Institutional Investors Weigh In On Matador Resources

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Atria Wealth Solutions Inc. raised its position in Matador Resources by 5.3% during the 4th quarter. Atria Wealth Solutions Inc. now owns 3,880 shares of the energy company’s stock valued at $221,000 after purchasing an additional 195 shares during the last quarter. Great Lakes Advisors LLC raised its position in Matador Resources by 1.4% during the 3rd quarter. Great Lakes Advisors LLC now owns 13,851 shares of the energy company’s stock valued at $824,000 after purchasing an additional 196 shares during the last quarter. Metropolitan Life Insurance Co NY raised its position in Matador Resources by 2.9% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 6,910 shares of the energy company’s stock valued at $396,000 after purchasing an additional 197 shares during the last quarter. Parkside Financial Bank & Trust raised its position in Matador Resources by 82.0% during the 3rd quarter. Parkside Financial Bank & Trust now owns 444 shares of the energy company’s stock valued at $26,000 after purchasing an additional 200 shares during the last quarter. Finally, Verdence Capital Advisors LLC raised its position in Matador Resources by 3.0% during the 3rd quarter. Verdence Capital Advisors LLC now owns 6,964 shares of the energy company’s stock valued at $414,000 after purchasing an additional 201 shares during the last quarter. Institutional investors own 91.98% 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.