Matador Resources Co (NYSE:MTDR) Expected to Post Quarterly Sales of $239.76 Million

Equities research analysts predict that Matador Resources Co (NYSE:MTDR) will announce sales of $239.76 million for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Matador Resources’ earnings. The lowest sales estimate is $234.00 million and the highest is $253.70 million. Matador Resources posted sales of $207.18 million during the same quarter last year, which suggests a positive year-over-year growth rate of 15.7%. The company is scheduled to report its next quarterly earnings report on Wednesday, October 30th.

On average, analysts expect that Matador Resources will report full-year sales of $931.89 million for the current fiscal year, with estimates ranging from $905.40 million to $1.01 billion. For the next financial year, analysts forecast that the business will post sales of $1.18 billion, with estimates ranging from $1.05 billion to $1.39 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Matador Resources.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Wednesday, July 31st. The energy company reported $0.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.11. Matador Resources had a return on equity of 8.71% and a net margin of 19.10%. The firm had revenue of $241.70 million during the quarter, compared to analyst estimates of $210.42 million. During the same quarter in the previous year, the business earned $0.41 EPS. Matador Resources’s revenue for the quarter was up 14.3% compared to the same quarter last year.

Several equities analysts recently weighed in on the company. ValuEngine upgraded Matador Resources from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 1st. Stifel Nicolaus set a $24.00 price target on Matador Resources and gave the company a “buy” rating in a research note on Monday. Stephens upgraded Matador Resources from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $22.00 to $24.00 in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. upgraded Matador Resources from a “neutral” rating to an “overweight” rating and cut their price target for the company from $28.00 to $26.00 in a research note on Friday, June 7th. Finally, Wells Fargo & Co set a $33.00 price target on Matador Resources and gave the company a “hold” rating in a research note on Thursday, July 11th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $31.47.

In other news, Director Kenneth L. Stewart acquired 5,000 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were bought at an average cost of $17.76 per share, for a total transaction of $88,800.00. Following the acquisition, the director now owns 37,532 shares in the company, valued at approximately $666,568.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Joseph Wm Foran acquired 8,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average price of $15.05 per share, for a total transaction of $120,400.00. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 36,150 shares of company stock worth $563,568. 6.90% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of MTDR. Municipal Employees Retirement System of Michigan purchased a new stake in Matador Resources in the 4th quarter valued at $387,000. Thrivent Financial for Lutherans increased its position in shares of Matador Resources by 5.4% during the 4th quarter. Thrivent Financial for Lutherans now owns 26,306 shares of the energy company’s stock valued at $409,000 after purchasing an additional 1,343 shares during the last quarter. Legal & General Group Plc increased its position in shares of Matador Resources by 3.0% during the 4th quarter. Legal & General Group Plc now owns 104,658 shares of the energy company’s stock valued at $1,626,000 after purchasing an additional 3,031 shares during the last quarter. Amalgamated Bank increased its position in shares of Matador Resources by 112.8% during the 4th quarter. Amalgamated Bank now owns 16,348 shares of the energy company’s stock valued at $254,000 after purchasing an additional 8,667 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Matador Resources during the 4th quarter valued at $5,874,000. Institutional investors own 94.87% of the company’s stock.

Shares of Matador Resources stock traded down $0.30 on Thursday, hitting $13.73. The company’s stock had a trading volume of 2,678,593 shares, compared to its average volume of 2,496,119. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.75 and a current ratio of 0.81. Matador Resources has a 1 year low of $13.42 and a 1 year high of $34.90. The firm has a fifty day moving average price of $17.53 and a 200-day moving average price of $18.47. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of 8.48, a price-to-earnings-growth ratio of 0.80 and a beta of 1.96.

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 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.

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