FY2024 EPS Forecast for Matador Resources Raised by Analyst

Matador Resources (NYSE:MTDR) – Analysts at Capital One Financial increased their FY2024 earnings per share estimates for shares of Matador Resources in a report released on Wednesday, January 8th. Capital One Financial analyst P. Johnston now anticipates that the energy company will earn $7.38 per share for the year, up from their previous estimate of $7.35. The consensus estimate for Matador Resources’ current full-year earnings is $7.49 per share. Capital One Financial also issued estimates for Matador Resources’ Q4 2024 earnings at $1.73 EPS.

A number of other brokerages also recently commented on MTDR. KeyCorp lowered their price objective on Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Benchmark reaffirmed a “buy” rating and set a $62.00 target price on shares of Matador Resources in a research note on Wednesday, October 23rd. Mizuho reduced their target price on Matador Resources from $74.00 to $73.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Wells Fargo & Company upped their target price on Matador Resources from $87.00 to $91.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $70.00 price objective on shares of Matador Resources in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $74.79.

Matador Resources Price Performance

Shares of MTDR opened at $61.40 on Friday. The company has a market cap of $7.66 billion, a P/E ratio of 8.13 and a beta of 3.24. The stock has a fifty day moving average price of $57.16 and a 200 day moving average price of $56.01. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.84. Matador Resources has a 12 month low of $47.15 and a 12 month high of $71.08.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.11. The business had revenue of $770.20 million for the quarter, compared to analyst estimates of $836.69 million. Matador Resources had a return on equity of 20.01% and a net margin of 27.45%. The business’s revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.86 EPS.

Hedge Funds Weigh In On Matador Resources

Hedge funds and other institutional investors have recently bought and sold shares of the business. ClearAlpha Technologies LP raised its holdings in Matador Resources by 4.3% in the third quarter. ClearAlpha Technologies LP now owns 5,250 shares of the energy company’s stock worth $259,000 after purchasing an additional 218 shares during the period. Quarry LP raised its holdings in shares of Matador Resources by 47.5% during the second quarter. Quarry LP now owns 779 shares of the energy company’s stock worth $46,000 after acquiring an additional 251 shares during the period. Greenleaf Trust raised its holdings in shares of Matador Resources by 3.8% during the third quarter. Greenleaf Trust now owns 7,086 shares of the energy company’s stock worth $350,000 after acquiring an additional 260 shares during the period. Evergreen Capital Management LLC grew its position in Matador Resources by 4.4% in the second quarter. Evergreen Capital Management LLC now owns 6,814 shares of the energy company’s stock valued at $406,000 after purchasing an additional 289 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Matador Resources by 20.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,751 shares of the energy company’s stock valued at $108,000 after purchasing an additional 300 shares in the last quarter. 91.98% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Matador Resources news, EVP William Thomas Elsener purchased 800 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average price of $56.60 per share, with a total value of $45,280.00. Following the completion of the transaction, the executive vice president now directly owns 102,964 shares of the company’s stock, valued at approximately $5,827,762.40. This trade represents a 0.78 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Glenn W. Stetson purchased 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was acquired at an average cost of $51.33 per share, with a total value of $51,330.00. Following the transaction, the executive vice president now directly owns 85,935 shares of the company’s stock, valued at approximately $4,411,043.55. This represents a 1.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 4,285 shares of company stock valued at $232,849 in the last quarter. Insiders own 6.10% of the company’s stock.

Matador Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 15th were given a dividend of $0.25 per share. This is a positive change from Matador Resources’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.63%. Matador Resources’s payout ratio is currently 13.25%.

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.