Matador Resources Co (MTDR) Expected to Announce Quarterly Sales of $205.13 Million

Wall Street brokerages expect that Matador Resources Co (NYSE:MTDR) will post $205.13 million in sales for the current quarter, according to Zacks. Eight analysts have made estimates for Matador Resources’ earnings. The lowest sales estimate is $194.00 million and the highest is $228.04 million. Matador Resources reported sales of $126.28 million during the same quarter last year, which indicates a positive year over year growth rate of 62.4%. The firm is scheduled to issue its next quarterly earnings results on Monday, November 5th.

According to Zacks, analysts expect that Matador Resources will report full year sales of $808.20 million for the current financial year, with estimates ranging from $768.80 million to $833.78 million. For the next fiscal year, analysts expect that the firm will report sales of $935.83 million per share, with estimates ranging from $794.60 million to $1.02 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Matador Resources.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Wednesday, August 1st. The energy company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.33 by $0.08. Matador Resources had a return on equity of 9.84% and a net margin of 24.93%. The business had revenue of $211.37 million during the quarter, compared to analyst estimates of $185.07 million. During the same quarter last year, the firm posted $0.36 earnings per share. The company’s revenue for the quarter was up 63.1% on a year-over-year basis.

Several brokerages have recently weighed in on MTDR. Northland Securities set a $39.00 price target on Matador Resources and gave the company a “buy” rating in a report on Friday, August 3rd. Imperial Capital lifted their price objective on Matador Resources from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, August 3rd. TheStreet upgraded Matador Resources from a “c+” rating to a “b” rating in a report on Tuesday, July 17th. KLR Group upgraded Matador Resources from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $28.00 to $36.00 in a report on Friday, June 29th. Finally, ValuEngine upgraded Matador Resources from a “hold” rating to a “buy” rating in a report on Thursday, June 21st. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $36.54.

Shares of Matador Resources traded up $0.71, hitting $32.72, on Friday, Marketbeat Ratings reports. 1,067,437 shares of the company traded hands, compared to its average volume of 1,474,053. Matador Resources has a 52 week low of $22.52 and a 52 week high of $35.22. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.22 and a quick ratio of 1.17. The company has a market capitalization of $3.72 billion, a PE ratio of 26.67, a PEG ratio of 0.84 and a beta of 1.25.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James & Associates purchased a new position in Matador Resources in the fourth quarter worth about $1,464,000. PNC Financial Services Group Inc. boosted its position in Matador Resources by 387.6% in the first quarter. PNC Financial Services Group Inc. now owns 206,114 shares of the energy company’s stock worth $6,165,000 after purchasing an additional 163,843 shares during the last quarter. Hennessy Advisors Inc. purchased a new position in Matador Resources in the first quarter worth about $1,084,000. Suntrust Banks Inc. boosted its position in Matador Resources by 6.8% in the first quarter. Suntrust Banks Inc. now owns 66,704 shares of the energy company’s stock worth $1,995,000 after purchasing an additional 4,239 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in Matador Resources by 24.3% in the first quarter. Russell Investments Group Ltd. now owns 40,375 shares of the energy company’s stock worth $1,208,000 after purchasing an additional 7,882 shares during the last quarter. Institutional investors own 82.20% of the company’s stock.

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.

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