SunTrust Banks Analysts Boost Earnings Estimates for Matador Resources Co (NYSE:MTDR)

Matador Resources Co (NYSE:MTDR) – Equities researchers at SunTrust Banks upped their Q2 2019 earnings estimates for shares of Matador Resources in a research report issued to clients and investors on Monday, July 8th, Zacks Investment Research reports. SunTrust Banks analyst N. Dingmann now forecasts that the energy company will post earnings per share of $0.29 for the quarter, up from their prior forecast of $0.23. SunTrust Banks also issued estimates for Matador Resources’ Q3 2019 earnings at $0.33 EPS, FY2019 earnings at $1.23 EPS and FY2021 earnings at $2.76 EPS.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Wednesday, July 31st. The energy company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.19 by $0.11. The company had revenue of $241.70 million for the quarter, compared to analyst estimates of $210.42 million. Matador Resources had a net margin of 22.37% and a return on equity of 9.57%. Matador Resources’s revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.41 earnings per share.

Several other research analysts have also recently issued reports on MTDR. MKM Partners upgraded shares of Matador Resources from a “neutral” rating to a “buy” rating and set a $22.00 price objective for the company in a report on Tuesday, May 28th. Stephens upgraded shares of Matador Resources from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $22.00 to $24.00 in a report on Tuesday, July 23rd. JPMorgan Chase & Co. upgraded shares of Matador Resources from a “neutral” rating to an “overweight” rating and decreased their price objective for the company from $28.00 to $26.00 in a report on Friday, June 7th. ValuEngine upgraded shares of Matador Resources from a “strong sell” rating to a “sell” rating in a report on Thursday. Finally, Wells Fargo & Co set a $33.00 price objective on shares of Matador Resources and gave the company a “hold” rating in a report on Thursday, July 11th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the stock. Matador Resources currently has a consensus rating of “Buy” and an average target price of $32.40.

Shares of Matador Resources stock traded down $0.38 on Thursday, hitting $16.63. The company had a trading volume of 3,206,500 shares, compared to its average volume of 2,431,517. The business has a 50-day simple moving average of $18.25. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.78. The stock has a market cap of $1.98 billion, a P/E ratio of 10.27, a PEG ratio of 0.97 and a beta of 1.98. Matador Resources has a 52 week low of $13.97 and a 52 week high of $34.90.

A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its position in shares of Matador Resources by 5.2% during the 4th quarter. BlackRock Inc. now owns 12,834,279 shares of the energy company’s stock valued at $199,317,000 after acquiring an additional 633,565 shares in the last quarter. Texas Permanent School Fund raised its stake in shares of Matador Resources by 4.0% during the fourth quarter. Texas Permanent School Fund now owns 67,754 shares of the energy company’s stock worth $1,052,000 after buying an additional 2,591 shares during the last quarter. Raymond James & Associates raised its stake in shares of Matador Resources by 100.8% during the fourth quarter. Raymond James & Associates now owns 119,855 shares of the energy company’s stock worth $1,861,000 after buying an additional 60,152 shares during the last quarter. Advisor Group Inc. raised its stake in shares of Matador Resources by 16.3% during the fourth quarter. Advisor Group Inc. now owns 11,529 shares of the energy company’s stock worth $179,000 after buying an additional 1,615 shares during the last quarter. Finally, NumerixS Investment Technologies Inc raised its stake in shares of Matador Resources by 89.4% during the fourth quarter. NumerixS Investment Technologies Inc now owns 8,002 shares of the energy company’s stock worth $124,000 after buying an additional 3,777 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

In other news, EVP Bradley M. Robinson bought 5,000 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were acquired at an average cost of $16.76 per share, for a total transaction of $83,800.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Matthew V. Hairford bought 2,000 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was purchased at an average price of $16.78 per share, for a total transaction of $33,560.00. The disclosure for this purchase can be found here. Insiders have bought a total of 13,000 shares of company stock worth $222,160 in the last 90 days. 6.90% of the stock is owned by insiders.

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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Earnings History and Estimates for Matador Resources (NYSE:MTDR)

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