Matador Resources Co (NYSE:MTDR) – Oppenheimer decreased their FY2019 earnings estimates for Matador Resources in a report issued on Thursday, August 22nd, Zacks Investment Research reports. Oppenheimer analyst T. Rezvan now anticipates that the energy company will post earnings per share of $0.88 for the year, down from their prior forecast of $1.09. Oppenheimer also issued estimates for Matador Resources’ Q1 2020 earnings at $0.31 EPS, Q2 2020 earnings at $0.28 EPS, Q3 2020 earnings at $0.32 EPS, Q4 2020 earnings at $0.33 EPS and FY2020 earnings at $1.24 EPS.
Matador Resources (NYSE:MTDR) last posted its quarterly earnings results on Wednesday, July 31st. The energy company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.11. Matador Resources had a return on equity of 8.71% and a net margin of 19.10%. The business had revenue of $241.70 million for the quarter, compared to the consensus estimate of $210.42 million. During the same period in the prior year, the business earned $0.41 EPS. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis.
MTDR has been the subject of several other reports. MKM Partners raised Matador Resources from a “neutral” rating to a “buy” rating and set a $22.00 price objective for the company in a research note on Tuesday, May 28th. Stifel Nicolaus set a $24.00 price objective on Matador Resources and gave the stock a “buy” rating in a research note on Monday, August 12th. ValuEngine raised Matador Resources from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. raised Matador Resources from a “neutral” rating to an “overweight” rating and lowered their price objective for the stock from $28.00 to $26.00 in a research note on Friday, June 7th. Finally, Stephens raised Matador Resources from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $22.00 to $24.00 in a research note on Tuesday, July 23rd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $30.14.
Shares of Matador Resources stock traded down $0.51 on Monday, hitting $16.60. The company had a trading volume of 2,834,900 shares, compared to its average volume of 2,515,337. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of 10.25, a P/E/G ratio of 0.87 and a beta of 2.00. Matador Resources has a 1 year low of $13.42 and a 1 year high of $34.90. The stock has a 50 day moving average of $15.73 and a 200-day moving average of $18.02. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.75 and a current ratio of 0.81.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC bought a new position in Matador Resources during the second quarter valued at $30,000. Private Capital Group LLC grew its holdings in Matador Resources by 91.5% during the first quarter. Private Capital Group LLC now owns 2,242 shares of the energy company’s stock valued at $43,000 after purchasing an additional 1,071 shares during the period. Marshall Wace LLP bought a new position in Matador Resources during the first quarter valued at $74,000. Zions Bancorporation N.A. bought a new position in Matador Resources during the first quarter valued at $91,000. Finally, Starr International Co. Inc. bought a new position in Matador Resources during the first quarter valued at $192,000.
In other Matador Resources news, EVP Bradley M. Robinson bought 2,000 shares of Matador Resources stock in a transaction dated Friday, August 9th. The stock was bought at an average cost of $15.34 per share, with a total value of $30,680.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David M. Posner bought 3,650 shares of Matador Resources stock in a transaction dated Thursday, August 8th. The stock was acquired at an average cost of $15.05 per share, with a total value of $54,932.50. Following the completion of the acquisition, the director now owns 19,879 shares of the company’s stock, valued at $299,178.95. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 28,734 shares of company stock valued at $419,588. 6.90% of the stock is currently owned by corporate insiders.
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 in 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.