Matador Resources Company (MTDR) Expected to Announce Quarterly Sales of $121.52 Million
Equities analysts expect Matador Resources Company (NYSE:MTDR) to announce sales of $121.52 million for the current quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Matador Resources’ earnings, with the lowest sales estimate coming in at $113.02 million and the highest estimate coming in at $129.00 million. Matador Resources posted sales of $88.73 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 37%. The business is expected to announce its next earnings report on Tuesday, November 7th.
According to Zacks, analysts expect that Matador Resources will report full-year sales of $121.52 million for the current fiscal year, with estimates ranging from $472.00 million to $532.40 million. For the next fiscal year, analysts anticipate that the business will report sales of $585.11 million per share, with estimates ranging from $486.40 million to $719.31 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that follow Matador Resources.
Matador Resources (NYSE:MTDR) last released its quarterly earnings results on Wednesday, August 2nd. The energy company reported $0.11 earnings per share for the quarter, hitting the consensus estimate of $0.11. Matador Resources had a net margin of 43.04% and a return on equity of 5.45%. The firm had revenue of $115.90 million during the quarter, compared to the consensus estimate of $112.21 million. During the same quarter in the prior year, the firm earned ($0.01) EPS. The company’s revenue for the quarter was up 65.1% on a year-over-year basis.
Several analysts recently commented on MTDR shares. Bank of America Corporation started coverage on shares of Matador Resources in a research note on Wednesday, July 19th. They issued a “neutral” rating and a $26.00 price objective for the company. BMO Capital Markets set a $23.00 price objective on shares of Matador Resources and gave the company a “buy” rating in a research note on Monday, June 26th. Royal Bank Of Canada set a $29.00 price objective on shares of Matador Resources and gave the company a “buy” rating in a research note on Thursday, August 3rd. Zacks Investment Research upgraded shares of Matador Resources from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, ValuEngine upgraded shares of Matador Resources from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $28.80.
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Matador Resources (MTDR) opened at 23.73 on Wednesday. Matador Resources has a 52-week low of $19.99 and a 52-week high of $28.51. The company’s 50 day moving average is $22.90 and its 200 day moving average is $23.44. The firm has a market cap of $2.38 billion, a P/E ratio of 12.26 and a beta of 1.20.
In other news, Director David M. Posner purchased 4,115 shares of the stock in a transaction dated Tuesday, August 8th. The stock was acquired at an average cost of $24.10 per share, for a total transaction of $99,171.50. Following the completion of the acquisition, the director now directly owns 6,274 shares in the company, valued at approximately $151,203.40. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Joseph Wm Foran sold 11,000 shares of Matador Resources stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $23.12, for a total transaction of $254,320.00. The disclosure for this sale can be found here. Insiders own 11.90% of the company’s stock.
Large investors have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Matador Resources by 46,974.5% in the first quarter. BlackRock Inc. now owns 6,619,149 shares of the energy company’s stock worth $157,472,000 after buying an additional 6,605,088 shares during the period. Neuberger Berman Group LLC increased its stake in shares of Matador Resources by 88.5% in the second quarter. Neuberger Berman Group LLC now owns 4,959,286 shares of the energy company’s stock worth $105,980,000 after buying an additional 2,328,250 shares during the period. State Street Corp increased its stake in shares of Matador Resources by 40.5% in the second quarter. State Street Corp now owns 4,756,810 shares of the energy company’s stock worth $101,655,000 after buying an additional 1,370,196 shares during the period. Dimensional Fund Advisors LP purchased a new stake in shares of Matador Resources during the second quarter worth approximately $16,623,000. Finally, TimesSquare Capital Management LLC increased its stake in shares of Matador Resources by 31.8% in the first quarter. TimesSquare Capital Management LLC now owns 2,683,690 shares of the energy company’s stock worth $63,845,000 after buying an additional 646,890 shares during the period. Institutional investors and hedge funds own 89.02% of the company’s stock.
About Matador Resources
Matador Resources Company is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas resources in the United States, with an emphasis on oil and natural gas shale and other unconventional plays. The Company’s segments include exploration and production, and midstream.
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