Q2 2024 EPS Estimates for Matador Resources (NYSE:MTDR) Boosted by Roth Capital

Matador Resources (NYSE:MTDR) – Equities researchers at Roth Capital boosted their Q2 2024 EPS estimates for shares of Matador Resources in a research report issued to clients and investors on Wednesday, April 24th. Roth Capital analyst L. Mariani now anticipates that the energy company will earn $1.89 per share for the quarter, up from their prior estimate of $1.61. The consensus estimate for Matador Resources’ current full-year earnings is $7.30 per share. Roth Capital also issued estimates for Matador Resources’ Q3 2024 earnings at $2.29 EPS and FY2024 earnings at $8.22 EPS.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Tuesday, April 23rd. The energy company reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.32. The company had revenue of $787.70 million during the quarter, compared to the consensus estimate of $740.99 million. Matador Resources had a net margin of 28.89% and a return on equity of 20.62%. Matador Resources’s quarterly revenue was up 40.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.50 EPS.

A number of other equities analysts also recently issued reports on MTDR. Raymond James cut their price target on shares of Matador Resources from $76.00 to $70.00 and set an “outperform” rating for the company in a report on Monday, January 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $70.00 price target on shares of Matador Resources in a research note on Tuesday, March 5th. TD Cowen raised their price target on shares of Matador Resources from $64.00 to $72.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th. Wells Fargo & Company raised their price target on shares of Matador Resources from $76.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Finally, Benchmark decreased their price target on shares of Matador Resources from $71.00 to $62.00 and set a “buy” rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Matador Resources has a consensus rating of “Moderate Buy” and an average target price of $74.30.

Matador Resources Stock Performance

Shares of MTDR opened at $65.60 on Friday. The company has a 50-day simple moving average of $65.38 and a 200-day simple moving average of $60.20. The company has a quick ratio of 0.98, a current ratio of 0.89 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $7.84 billion, a PE ratio of 8.99 and a beta of 3.32. Matador Resources has a 52-week low of $42.04 and a 52-week high of $71.08.

Matador Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be issued a dividend of $0.20 per share. The ex-dividend date is Thursday, May 16th. This represents a $0.80 annualized dividend and a dividend yield of 1.22%. Matador Resources’s payout ratio is currently 10.96%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Matador Resources by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 11,020,992 shares of the energy company’s stock valued at $626,654,000 after buying an additional 83,067 shares during the period. Dimensional Fund Advisors LP raised its holdings in Matador Resources by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,028,782 shares of the energy company’s stock valued at $229,083,000 after buying an additional 87,299 shares during the period. Victory Capital Management Inc. raised its holdings in Matador Resources by 6.3% in the fourth quarter. Victory Capital Management Inc. now owns 3,430,593 shares of the energy company’s stock valued at $195,064,000 after buying an additional 202,303 shares during the period. Goldman Sachs Group Inc. raised its holdings in Matador Resources by 31.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,206,041 shares of the energy company’s stock valued at $125,435,000 after buying an additional 531,504 shares during the period. Finally, Clearbridge Investments LLC raised its holdings in Matador Resources by 0.4% in the fourth quarter. Clearbridge Investments LLC now owns 1,820,404 shares of the energy company’s stock valued at $103,508,000 after buying an additional 6,980 shares during the period. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

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.