What is Zacks Research’s Forecast for MTDR FY2024 Earnings?

Matador Resources (NYSE:MTDR) – Equities research analysts at Zacks Research cut their FY2024 earnings per share (EPS) estimates for Matador Resources in a report released on Monday, January 13th. Zacks Research analyst R. Department now forecasts that the energy company will earn $7.29 per share for the year, down from their prior forecast of $7.31. The consensus estimate for Matador Resources’ current full-year earnings is $7.49 per share. Zacks Research also issued estimates for Matador Resources’ Q4 2024 earnings at $1.64 EPS, Q3 2025 earnings at $1.67 EPS, FY2025 earnings at $6.70 EPS, Q1 2026 earnings at $1.67 EPS, Q3 2026 earnings at $1.75 EPS, Q4 2026 earnings at $1.94 EPS and FY2026 earnings at $7.11 EPS.

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

Several other equities analysts have also recently issued reports on the company. Stephens upped their price objective on Matador Resources from $78.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Morgan Stanley started coverage on Matador Resources in a research note on Friday, January 10th. They issued an “equal weight” rating and a $78.00 price objective for the company. Wolfe Research raised shares of Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 target price for the company in a report on Friday, January 3rd. BMO Capital Markets upped their target price on shares of Matador Resources from $75.00 to $78.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Finally, Truist Financial increased their price objective on shares of Matador Resources from $75.00 to $80.00 and gave the company a “buy” rating in a report on Monday. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $75.14.

Matador Resources Stock Performance

Shares of MTDR opened at $63.45 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 0.88 and a debt-to-equity ratio of 0.71. The business’s 50 day moving average price is $57.53 and its 200-day moving average price is $56.03. Matador Resources has a 52 week low of $47.15 and a 52 week high of $71.08. The stock has a market cap of $7.92 billion, a P/E ratio of 8.40 and a beta of 3.24.

Institutional Trading of Matador Resources

A number of hedge funds have recently bought and sold shares of MTDR. True Wealth Design LLC bought a new position in Matador Resources during the third quarter valued at approximately $37,000. Denver PWM LLC raised its position in Matador Resources by 67.2% during the third quarter. Denver PWM LLC now owns 754 shares of the energy company’s stock valued at $37,000 after acquiring an additional 303 shares in the last quarter. Avior Wealth Management LLC grew its holdings in Matador Resources by 329.0% during the third quarter. Avior Wealth Management LLC now owns 828 shares of the energy company’s stock valued at $41,000 after purchasing an additional 635 shares during the last quarter. Quarry LP grew its holdings in Matador Resources by 47.5% during the second quarter. Quarry LP now owns 779 shares of the energy company’s stock valued at $46,000 after purchasing an additional 251 shares during the last quarter. Finally, Covestor Ltd grew its holdings in Matador Resources by 154.8% during the third quarter. Covestor Ltd now owns 1,060 shares of the energy company’s stock valued at $52,000 after purchasing an additional 644 shares during the last quarter. 91.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Glenn W. Stetson bought 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were acquired at an average cost of $51.33 per share, with a total value of $51,330.00. Following the completion of the transaction, the executive vice president now owns 85,935 shares of the company’s stock, valued at approximately $4,411,043.55. The trade was a 1.18 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Joseph Wm Foran acquired 2,000 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were purchased at an average price of $55.18 per share, for a total transaction of $110,360.00. Following the purchase, the chief executive officer now directly owns 42,251 shares of the company’s stock, valued at approximately $2,331,410.18. This trade represents a 4.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 4,285 shares of company stock worth $232,849. Corporate insiders own 6.10% of the company’s stock.

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.