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

Matador Resources (NYSE:MTDR) – Analysts at Zacks Research lifted their Q1 2024 earnings per share (EPS) estimates for Matador Resources in a note issued to investors on Tuesday, April 16th. Zacks Research analyst N. Banerjee now expects that the energy company will earn $1.36 per share for the quarter, up from their previous estimate 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.

A number of other research analysts have also recently issued reports on MTDR. Mizuho lifted their price objective on Matador Resources from $67.00 to $76.00 and gave the company a “buy” rating in a report on Monday, April 1st. TD Cowen lifted their price objective on Matador Resources from $64.00 to $72.00 and gave the company an “outperform” rating in a report on Monday, March 4th. StockNews.com raised Matador Resources from a “sell” rating to a “hold” rating in a report on Thursday, February 22nd. JPMorgan Chase & Co. lifted their price target on Matador Resources from $76.00 to $77.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Finally, Benchmark cut their price target on Matador Resources from $71.00 to $62.00 and set a “buy” rating for the company in a report on Thursday, January 25th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $73.40.

Matador Resources Stock Performance

Shares of NYSE MTDR opened at $64.73 on Thursday. The company has a current ratio of 1.04, a quick ratio of 0.98 and a debt-to-equity ratio of 0.53. The business has a fifty day simple moving average of $64.52 and a 200 day simple moving average of $59.86. Matador Resources has a one year low of $42.04 and a one year high of $71.08. The firm has a market capitalization of $7.74 billion, a price-to-earnings ratio of 9.18 and a beta of 3.32.

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

Hedge Funds Weigh In On Matador Resources

Institutional investors and hedge funds have recently modified their holdings of the business. Algert Global LLC grew its position in shares of Matador Resources by 1,500.9% in the 3rd quarter. Algert Global LLC now owns 71,240 shares of the energy company’s stock valued at $4,237,000 after purchasing an additional 66,790 shares during the period. Flputnam Investment Management Co. bought a new stake in Matador Resources in the 3rd quarter valued at approximately $204,000. WCM Investment Management LLC lifted its stake in Matador Resources by 10.3% in the 4th quarter. WCM Investment Management LLC now owns 304,568 shares of the energy company’s stock valued at $17,510,000 after acquiring an additional 28,390 shares in the last quarter. Natixis Advisors L.P. lifted its stake in Matador Resources by 85.4% in the 3rd quarter. Natixis Advisors L.P. now owns 134,903 shares of the energy company’s stock valued at $8,024,000 after acquiring an additional 62,124 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Matador Resources by 2.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,428,877 shares of the energy company’s stock valued at $84,990,000 after acquiring an additional 33,859 shares in the last quarter. 91.98% of the stock is currently owned by institutional investors and hedge funds.

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 given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $0.80 annualized dividend and a dividend yield of 1.24%. Matador Resources’s payout ratio is currently 11.35%.

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.