Oil and gas producer Matador Resources (NYSE: MTDR) will be announcing earnings results this Wednesday afternoon. Here’s what to look for.
Matador Resources beat analysts’ revenue expectations last quarter, reporting revenues of $848 million, down 12.6% year on year. It was a stunning quarter for the company, with a solid beat of analysts’ EBITDA estimates and a beat of analysts’ EPS estimates. It reported 121,363 oil production per day, up 2.5% year on year.
Is Matador Resources a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Matador Resources’s revenue to decline 14% year on year, a reversal from the 28.7% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Matador Resources rarely misses Wall Street’s revenue estimates.
Looking at Matador Resources’s peers in the u.s. shale e&p segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Crescent Energy delivered year-on-year revenue growth of 24.5%, meeting analysts’ expectations, and Diamondback Energy reported revenues up 4.7%, topping estimates by 10.5%.
Read our full analysis of Crescent Energy’s results here and Diamondback Energy’s results here.
There has been positive sentiment among investors in the u.s. shale e&p segment, with share prices up 5.1% on average over the last month. Matador Resources’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $72.47 (compared to the current share price of $64.19).
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