Q3 2024 Earnings Forecast for Matador Resources (NYSE:MTDR) Issued By Zacks Research

Matador Resources (NYSE:MTDR) – Investment analysts at Zacks Research raised their Q3 2024 earnings estimates for shares of Matador Resources in a report released on Tuesday, May 7th. Zacks Research analyst N. Banerjee now anticipates that the energy company will earn $1.99 per share for the quarter, up from their prior forecast of $1.88. The consensus estimate for Matador Resources’ current full-year earnings is $7.57 per share. Zacks Research also issued estimates for Matador Resources’ Q4 2024 earnings at $1.94 EPS, FY2024 earnings at $7.36 EPS, Q1 2025 earnings at $1.92 EPS, Q2 2025 earnings at $1.88 EPS and Q4 2025 earnings at $1.97 EPS.

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

Other research analysts also recently issued reports about the stock. Mizuho boosted their price objective on shares of Matador Resources from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Benchmark reduced their target price on Matador Resources from $71.00 to $62.00 and set a “buy” rating on the stock in a report on Tuesday, April 23rd. Roth Mkm reissued a “buy” rating and issued a $66.00 target price on shares of Matador Resources in a research report on Monday, March 25th. Royal Bank of Canada restated an “outperform” rating and set a $70.00 price target on shares of Matador Resources in a research report on Tuesday, March 5th. Finally, TD Cowen increased their price objective on Matador Resources from $64.00 to $72.00 and gave the stock an “outperform” rating in a report on Monday, March 4th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Matador Resources presently has a consensus rating of “Moderate Buy” and an average target price of $74.30.

Matador Resources Price Performance

Shares of MTDR stock opened at $63.99 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.84 and a current ratio of 0.89. The firm has a market cap of $7.98 billion, a P/E ratio of 8.77 and a beta of 3.33. The business’s 50 day moving average price is $65.96 and its 200-day moving average price is $60.26. Matador Resources has a fifty-two week low of $42.15 and a fifty-two week high of $71.08.

Matador Resources Announces Dividend

The company also recently declared 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. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Thursday, May 16th. Matador Resources’s payout ratio is 10.96%.

Hedge Funds Weigh In On Matador Resources

A number of hedge funds have recently added to or reduced their stakes in MTDR. Algert Global LLC raised its stake in shares of Matador Resources by 1,500.9% in the third quarter. Algert Global LLC now owns 71,240 shares of the energy company’s stock worth $4,237,000 after purchasing an additional 66,790 shares during the last quarter. Wedge Capital Management L L P NC lifted its stake in Matador Resources by 31.2% during the 4th quarter. Wedge Capital Management L L P NC now owns 92,100 shares of the energy company’s stock valued at $5,237,000 after acquiring an additional 21,924 shares during the period. Flputnam Investment Management Co. purchased a new stake in shares of Matador Resources during the 3rd quarter valued at about $204,000. WCM Investment Management LLC boosted its holdings in shares of Matador Resources by 10.3% during 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 during the last quarter. Finally, Natixis Advisors L.P. raised its holdings in shares of Matador Resources by 85.4% during the third quarter. Natixis Advisors L.P. now owns 134,903 shares of the energy company’s stock valued at $8,024,000 after purchasing an additional 62,124 shares during the last quarter. 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.