Christopher P. Calvert, EVP and CFO of Matador Resources Company (MTDR +1.91%), purchased 2,500 shares of common stock on Aug. 27, 2026, for a total investment of $141,600, according to an SEC Form 4 filing.
Transaction summaryMetricValueTransaction value$141,600Shares purchased (indirectly held)2,500Post-transaction shares (directly held)85,624Post-transaction shares (indirectly held)44,000Post-transaction value$7.35 millionTransaction value based on SEC Form 4 weighted average purchase price ($56.64); post-transaction value based on Aug. 27, 2026, market close ($56.74).
Key questionsHow does this acquisition impact the insider's total equity stake?
The purchase of 2,500 shares increases the indirect holdings within the 401(k) account to 44,000 shares. When combined with 85,624 shares held directly, the total beneficial ownership increases to ~130,000 shares, representing a 0.1% ownership interest in the company.What is the current status of equity-based compensation for the CFO?
The direct equity position includes 3,334 shares of restricted stock granted in February 2024 that are scheduled to vest in full on the third anniversary of the grant. The reporting person also holds shares acquired through the company's employee stock purchase plan.What is the recent financial and stock performance context for Matador Resources?
Matador Resources Company generated a 14% total return over the 12 months ending on Aug. 27, 2026, the transaction date. The stock was priced at $56.39 as of the Aug. 28, 2026 market close, following a trailing twelve-month period in which the firm reported $3.9 billion in revenue and $723.7 million in net income.Company OverviewMetricValueShare Price (as of market close 2026-08-28)$56.39Market Capitalization$7.0 billionRevenue (TTM)$3.9 billionNet Income (TTM)$723.7 millionCompany SnapshotMatador Resources Company operates as an independent oil and gas exploration and production firm, generating revenue through the identification, development, extraction, and acquisition of crude oil and natural gas reserves across the United States, with primary asset concentrations in the Wolfcamp and Bone Spring formations of the Delaware Basin.The company operates through two integrated business divisions--Exploration and Production and Midstream--which together enable vertical integration across the hydrocarbon value chain, from upstream resource development through midstream transportation and processing infrastructure.Matador's customer base comprises major integrated oil and gas companies, independent producers, and energy trading firms that purchase its crude oil and natural gas production, and its operations primarily serve markets in the southwestern United States.Matador Resources Company is a mid-cap independent energy producer with a $7.0 billion market capitalization and TTM revenues of $3.9 billion, demonstrating substantial scale within the upstream oil and gas sector. The company's strategic focus on the prolific Delaware Basin, combined with its integrated Exploration and Production and Midstream divisions, provides operational leverage and cost efficiency advantages. Matador's one-year share price appreciation of 13.73% reflects investor confidence in its reserve base, operational execution, and cash-generation capabilities amid a volatile commodity environment.
What this transaction means for investorsSome insider transactions are very complex. Others are pretty simple to understand. Insider purchases fall into the latter category. When an insider buys shares of their own company, they are voting with their own pocketbook that the stock will increase in value. While that doesn't make a stock an automatic buy, it is a strong vote of confidence from management. With that in mind, let's have a look at Matador Resources (MTDR).
To start, we should take a closer look at MTDR's recent performance. Since 2021, shares have generated a total return of 131%, equating to a compound annual growth rate (CAGR) of 18.2%. That compares favorably to the S&P 500, which has delivered a total return of 82%, with a CAGR of 12.7%.
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As for fundamentals, MTDR paints a somewhat mixed picture. On the positive side, revenue stands at an all-time record high of more than $3.8 billion. Indeed, over the last five years, quarterly revenue has grown at an average rate of 33% year over year. Its current growth rate of 27% is only slightly below that exceptional average.
On the other hand, some figures are less impressive. Take free cash flow, for instance. MTDR's free cash flow recently dropped to $(568) million. That's well below its five-year average of $392 million. Net income has also moderated to $814 million, down from an all-time high of $1.3 billion in 2023.
In summary, MTDR is giving off mixed signals. The insider buying, historical outperformance, and robust revenue growth point to a stock that could move much higher. However, some key metrics, such as net income and free cash flow, have moderated in recent years as the company has ramped up investment and increasingly relied on debt to fund its growth.
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Stock to Watch: Matador Resources (MTDR - Free Report) Headquartered in Dallas, TX, Matador Resources Company is an oil and natural gas company engaged in the exploration, development, production and acquisition of shale and other unconventional resources in the United States. Its upstream operations are focused primarily on the oil and liquids-rich portions of the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas. The company also operates in the Haynesville shale and Cotton Valley plays in Northwest Louisiana.
MTDR is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.
Momentum investors should take note of this Oils-Energy stock. MTDR has a Momentum Style Score of A, and shares are up 13.3% over the past four weeks.
Six analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.45 to $7.51 per share. MTDR boasts an average earnings surprise of +21.2%.
With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, MTDR should be on investors' short list.
Corient Private Wealth LP acquired a new stake in Matador Resources Company (NYSE:MTDR – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,157 shares of the energy company’s stock, valued at approximately $605,000.
Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Matador Resources during the 2nd quarter worth approximately $573,936,000. Wellington Management Group LLP lifted its stake in Matador Resources by 65.0% in the fourth quarter. Wellington Management Group LLP now owns 3,406,182 shares of the energy company’s stock worth $144,558,000 after purchasing an additional 1,342,145 shares during the last quarter. Encompass Capital Advisors LLC purchased a new position in Matador Resources during the 4th quarter valued at $53,249,000. Bank of New York Mellon Corp bought a new position in shares of Matador Resources in the second quarter worth about $56,161,000. Finally, Bank of America Corp DE purchased a new position in shares of Matador Resources during the second quarter worth approximately $42,184,000. Hedge funds and other institutional investors own 91.98% of the company’s stock.
Matador Resources Stock Up 0.3% Shares of NYSE:MTDR opened at $59.33 on Monday. Matador Resources Company has a fifty-two week low of $37.14 and a fifty-two week high of $66.84. The firm’s 50 day moving average price is $52.94 and its 200 day moving average price is $55.26. The company has a quick ratio of 0.62, a current ratio of 0.65 and a debt-to-equity ratio of 0.67. The stock has a market cap of $7.34 billion, a price-to-earnings ratio of 10.18 and a beta of 0.79.
Matador Resources (NYSE:MTDR – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The energy company reported $2.61 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.53. Matador Resources had a net margin of 19.85% and a return on equity of 13.18%. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter last year, the company earned $1.53 earnings per share. The firm’s revenue for the quarter was up 32.5% on a year-over-year basis. As a group, equities research analysts predict that Matador Resources Company will post 7.51 earnings per share for the current fiscal year. Matador Resources Dividend Announcement The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 10th will be paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Monday, August 10th. Matador Resources’s payout ratio is 25.73%.
Analyst Upgrades and Downgrades Several research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Matador Resources from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Roth Capital upgraded shares of Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 price objective on the stock in a report on Monday, June 22nd. Mizuho upgraded Matador Resources to a “strong-buy” rating in a research note on Friday, July 31st. KeyCorp decreased their price objective on shares of Matador Resources from $73.00 to $68.00 and set an “overweight” rating for the company in a research note on Thursday, August 13th. Finally, Citigroup dropped their target price on Matador Resources from $68.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.93.
Read Our Latest Stock Analysis on Matador Resources
Insiders Place Their Bets In other Matador Resources news, CFO Christopher Calvert purchased 2,500 shares of Matador Resources stock in a transaction dated Thursday, August 27th. The stock was acquired at an average cost of $56.64 per share, with a total value of $141,600.00. Following the acquisition, the chief financial officer directly owned 44,000 shares of the company’s stock, valued at $2,492,160. This represents a 6.02% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP William Elsener purchased 850 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was bought at an average price of $50.94 per share, with a total value of $43,299.00. Following the acquisition, the executive vice president directly owned 114,879 shares in the company, valued at approximately $5,851,936.26. This represents a 0.75% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have purchased 25,644 shares of company stock worth $1,344,638. Company insiders own 5.90% of the company’s stock.
(Free Report)
Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.
Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.
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Permian Resources Rally Faces a TestMatador Resources NYSE: MTDR outlined its strategy for production growth, free-cash-flow generation and expansion of its Delaware Basin footprint during a presentation at the Three Part Advisors Chicago conference.
Senior Vice President of Investor Relations Mac Schmitz said the company remains founder-led, with founder and Chief Executive Officer Joe Foran still running the business. Foran launched the current Matador with $6 million in initial capital after selling a prior company in 2003, Schmitz said. Matador’s asset value is now approaching or exceeding $10 billion, according to the presentation.
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Matador’s Results Were Better Than Feared, But 2026 Headwinds Still MatterThe company described itself as primarily a Delaware Basin operator, with virtually all of its production and reserve value located in northeast New Mexico and West Texas. Matador also holds legacy Haynesville and Cotton Valley assets, which Schmitz characterized as a “gas bank” that is fully held by production and carries potential value depending on natural-gas prices.
Delaware Basin Inventory and Acreage Growth Vice President of Land Hannah Rhodes said Matador continues to expand its inventory through a combination of organic leasing, acreage trades, swaps and acquisitions. She said the company added 17,000 net acres through its “ground game” during the prior year and is continuing that effort.
3 Mid-Cap Energy Firms Analysts See Moving Up to the Big LeaguesRhodes highlighted acreage acquired through a Bureau of Land Management lease sale in May, along with the announced Paloma and Ridge Runner transactions. She said the BLM leases were contiguous with Matador’s existing position, allowing the company to extend laterals, and carried royalty interests of 7.5% or 12.5%, compared with an average net revenue interest of roughly 75% in the basin.
The acquired acreage includes multiple targeted formations, she said, while the Ridge Runner position added exposure to the Woodford formation. Matador has also identified additional opportunities in formations including the Second Bone Spring Carbonate.
“We are very happy and very proud of our inventory base,” Rhodes said, adding that the company has replenished locations drilled in prior years through land acquisitions and geological work. The company has not yet assigned reserves to the Woodford formation, according to Chief Financial Officer Chris Calvert.
Free Cash Flow, Production and Capital Efficiency Calvert said Matador has focused on free-cash-flow generation since the industry reset following the COVID-19 pandemic. In its latest quarterly release, the company projected approximately $900 million of free cash flow for 2026 while continuing to increase production.
Matador reported historical oil-production growth at a 21% compound annual growth rate since 2021, with a similar growth rate for barrels of oil equivalent production, Calvert said. He added that the company has reduced drilling and completion investment costs per lateral foot by 12% from 2024 levels, aided by drilling and completion work that is 10% to 15% faster year over year.
The company’s capital-return priorities have included a fixed dividend, debt repayment and opportunistic share repurchases. Calvert said Matador has raised its dividend seven times over five years and has repurchased approximately 1.8 million shares since April 2025 at an average price in the low-$40 range.
In response to a question about future production, Schmitz said Matador expects to remain a relative grower compared with peers, though at a measured pace. Calvert said the company had planned for roughly 3% production growth and about $500 million in free cash flow even when oil prices were in the mid-$50s to low-$60s earlier in the year.
He said the company did not add rigs to pursue higher prices following the Iranian conflict and instead focused on ancillary work intended to maximize production around the margins. Matador’s strategy is “profitable growth at a measured pace,” he said.
Integrated Midstream Business Calvert also emphasized the value of Matador’s integrated midstream operations. The company owns 51% of San Mateo Midstream, a joint venture that provides gas gathering and processing, water gathering and disposal, and oil gathering services.
Matador initially built its own gas-processing infrastructure after finding third-party service and pricing options inadequate, Calvert said. The company’s first West Texas plant had 60 million cubic feet per day of capacity. The system has since expanded to 720 million cubic feet per day, and the Cardinal acquisition made San Mateo the largest privately held gas gatherer and processor in the Northern Delaware Basin, according to Calvert.
Matador expects the combination of San Mateo and its wholly owned midstream assets to generate nearly $400 million of EBITDA in 2026. Calvert said management believes the business is not fully reflected in Matador’s valuation and is evaluating potential ways to unlock value, including debt at the entity level or a possible initial public offering.
Calvert said the company also expects the Matterhorn Express Pipeline to allow Matador to move all of its gas away from the Waha hub, with sales expected at Houston Ship Channel and Henry Hub pricing. Matador currently produces more than half a billion cubic feet of gas per day, he said.
Management Alignment and Succession Schmitz said Foran is Matador’s largest individual shareholder and that management has recorded 86 stock purchases and no sales by Form 4 filers. More than 95% of employees participate in the company’s employee stock purchase program, he said.
Asked about CEO succession planning, Calvert said Matador has not publicly disclosed a succession plan. He said Foran remains active in the business and that the company has a management team with longstanding experience at Matador, as well as a diverse board.
About Matador Resources (NYSE:MTDR)Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.
Matador's core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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BlackRock Inc. acquired a new stake in Matador Resources Company (NYSE:MTDR – Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 11,529,447 shares of the energy company’s stock, valued at approximately $573,936,000. BlackRock Inc. owned about 9.28% of Matador Resources at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the business. V Square Quantitative Management LLC bought a new stake in Matador Resources during the 1st quarter worth approximately $27,000. Kestra Investment Management LLC increased its position in Matador Resources by 225.2% in the 2nd quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock valued at $25,000 after acquiring an additional 358 shares during the period. Center for Financial Planning Inc. bought a new position in shares of Matador Resources during the first quarter valued at $41,000. Altshuler Shaham Ltd raised its stake in shares of Matador Resources by 36.7% during the first quarter. Altshuler Shaham Ltd now owns 748 shares of the energy company’s stock valued at $47,000 after acquiring an additional 201 shares during the last quarter. Finally, Measured Wealth Private Client Group LLC acquired a new position in shares of Matador Resources during the third quarter worth $35,000. 91.98% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth Several research analysts have commented on the company. Stephens lifted their target price on Matador Resources from $92.00 to $93.00 and gave the stock an “overweight” rating in a report on Tuesday, July 28th. UBS Group increased their price target on Matador Resources from $54.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Wall Street Zen upgraded Matador Resources from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Wells Fargo & Company lifted their price objective on Matador Resources from $63.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 13th. Finally, Morgan Stanley reduced their target price on Matador Resources from $75.00 to $66.00 and set an “equal weight” rating on the stock in a report on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $66.07.
Check Out Our Latest Stock Analysis on Matador Resources Insiders Place Their Bets In other Matador Resources news, EVP William Thomas Elsener bought 850 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was acquired at an average price of $50.94 per share, with a total value of $43,299.00. Following the completion of the purchase, the executive vice president directly owned 114,879 shares of the company’s stock, valued at approximately $5,851,936.26. This trade represents a 0.75% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Christopher P. Calvert bought 1,500 shares of the stock in a transaction on Friday, May 29th. The stock was acquired at an average price of $53.24 per share, with a total value of $79,860.00. Following the completion of the acquisition, the chief financial officer owned 41,500 shares of the company’s stock, valued at $2,209,460. This represents a 3.75% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased 31,996 shares of company stock valued at $1,675,663 over the last 90 days. 5.90% of the stock is owned by company insiders.
Matador Resources Price Performance Shares of NYSE MTDR opened at $58.51 on Monday. Matador Resources Company has a twelve month low of $37.14 and a twelve month high of $66.84. The firm has a fifty day simple moving average of $51.46 and a 200 day simple moving average of $54.51. The company has a market capitalization of $7.24 billion, a PE ratio of 10.04 and a beta of 0.76. The company has a quick ratio of 0.62, a current ratio of 0.65 and a debt-to-equity ratio of 0.67.
Matador Resources (NYSE:MTDR – Get Free Report) last released its earnings results on Wednesday, August 5th. The energy company reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.53. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.06 billion. Matador Resources had a net margin of 19.85% and a return on equity of 13.18%. Matador Resources’s revenue for the quarter was up 32.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.53 earnings per share. On average, sell-side analysts forecast that Matador Resources Company will post 7.26 EPS for the current year.
Matador Resources Dividend Announcement The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 10th will be given a $0.375 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $1.50 annualized dividend and a dividend yield of 2.6%. Matador Resources’s dividend payout ratio (DPR) is 25.73%.
Key Stories Impacting Matador Resources Here are the key news stories impacting Matador Resources this week:
Positive Sentiment: CEO Joseph Wm. Foran purchased another 400 shares at an average price of $53.64, increasing his stake by 1.31%. The purchase follows several additional buys earlier in August, signaling management confidence in Matador’s valuation and outlook. Matador Resources CEO Purchases 400 Shares of Stock Positive Sentiment: Matador’s latest quarterly results were stronger than expected: earnings per share came in at $2.61 versus the $2.08 consensus estimate, while revenue reached $1.17 billion, up 32.5% year over year and above the $1.06 billion forecast. The company also declared a quarterly dividend of $0.375, equivalent to a $1.50 annual payout and an approximately 2.6% yield. Neutral Sentiment: Analyst sentiment remains broadly constructive but not decisive. Matador has a consensus “Moderate Buy” rating and an average price target of $66.07, while individual views range from Stephens’ $93 overweight target to Morgan Stanley’s $66 equal-weight target and Truist’s $59 buy target. Negative Sentiment: Zacks Research lowered estimates for Q3 2026 EPS to $0.99 from $1.44, Q4 2026 EPS to $1.26 from $1.41, FY2027 EPS to $6.87 from $7.33, and FY2028 EPS to $7.32 from $7.45. It also reduced Q2 and Q3 2027 forecasts, although it raised its Q4 2027 and Q1 2028 estimates modestly. The revisions suggest continuing uncertainty around Matador’s future earnings, likely related to commodity prices and operating conditions in the Permian Basin. (Free Report)
Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.
Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.
Further Reading Five stocks we like better than Matador Resources VIG, VYM, and VYMI: Which Vanguard Dividend ETF Is Right for You? 3 Closed-End Funds to Maximize Dividend Payments Rocket Lab’s Sell-Off Is Fading—Is It Finally Safe to Buy? $27 Billion in Buybacks: 3 Stocks Betting Their Strong Runs Aren’t Over Want to see what other hedge funds are holding MTDR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Matador Resources Company (NYSE:MTDR – Free Report).
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Great Lakes Advisors LLC purchased a new stake in shares of Matador Resources Company (NYSE:MTDR – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,162 shares of the energy company’s stock, valued at approximately $605,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Altshuler Shaham Ltd raised its position in Matador Resources by 36.7% in the 1st quarter. Altshuler Shaham Ltd now owns 748 shares of the energy company’s stock worth $47,000 after purchasing an additional 201 shares during the last quarter. Burford Brothers Inc. boosted its position in Matador Resources by 0.8% in the 1st quarter. Burford Brothers Inc. now owns 26,798 shares of the energy company’s stock valued at $1,693,000 after buying an additional 225 shares during the last quarter. Fiduciary Trust Co boosted its position in Matador Resources by 2.2% in the 3rd quarter. Fiduciary Trust Co now owns 11,821 shares of the energy company’s stock valued at $531,000 after buying an additional 253 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its position in Matador Resources by 2.9% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 9,138 shares of the energy company’s stock valued at $388,000 after buying an additional 254 shares during the last quarter. Finally, Verdence Capital Advisors LLC increased its stake in shares of Matador Resources by 3.5% in the 4th quarter. Verdence Capital Advisors LLC now owns 8,233 shares of the energy company’s stock valued at $349,000 after buying an additional 278 shares during the period. Institutional investors and hedge funds own 91.98% of the company’s stock.
Analyst Ratings Changes A number of research firms have recently weighed in on MTDR. Mizuho upgraded Matador Resources to a “strong-buy” rating in a research report on Friday, July 31st. Citigroup decreased their price target on Matador Resources from $68.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. UBS Group lifted their price objective on Matador Resources from $54.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Stephens boosted their price objective on Matador Resources from $92.00 to $93.00 and gave the stock an “overweight” rating in a report on Tuesday, July 28th. Finally, Roth Capital raised Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 price objective for the company in a report on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $66.07.
Read Our Latest Stock Report on Matador Resources More Matador Resources News Here are the key news stories impacting Matador Resources this week:
Positive Sentiment: CEO Joseph Wm. Foran purchased another 400 shares at an average price of $53.64, increasing his stake by 1.31%. The purchase follows several additional buys earlier in August, signaling management confidence in Matador’s valuation and outlook. Matador Resources CEO Purchases 400 Shares of Stock Positive Sentiment: Matador’s latest quarterly results were stronger than expected: earnings per share came in at $2.61 versus the $2.08 consensus estimate, while revenue reached $1.17 billion, up 32.5% year over year and above the $1.06 billion forecast. The company also declared a quarterly dividend of $0.375, equivalent to a $1.50 annual payout and an approximately 2.6% yield. Neutral Sentiment: Analyst sentiment remains broadly constructive but not decisive. Matador has a consensus “Moderate Buy” rating and an average price target of $66.07, while individual views range from Stephens’ $93 overweight target to Morgan Stanley’s $66 equal-weight target and Truist’s $59 buy target. Negative Sentiment: Zacks Research lowered estimates for Q3 2026 EPS to $0.99 from $1.44, Q4 2026 EPS to $1.26 from $1.41, FY2027 EPS to $6.87 from $7.33, and FY2028 EPS to $7.32 from $7.45. It also reduced Q2 and Q3 2027 forecasts, although it raised its Q4 2027 and Q1 2028 estimates modestly. The revisions suggest continuing uncertainty around Matador’s future earnings, likely related to commodity prices and operating conditions in the Permian Basin. Matador Resources Price Performance MTDR opened at $58.51 on Monday. The company has a fifty day moving average price of $51.46 and a two-hundred day moving average price of $54.51. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.62 and a current ratio of 0.65. Matador Resources Company has a 52 week low of $37.14 and a 52 week high of $66.84. The firm has a market capitalization of $7.24 billion, a PE ratio of 10.04 and a beta of 0.76.
Matador Resources (NYSE:MTDR – Get Free Report) last issued its earnings results on Wednesday, August 5th. The energy company reported $2.61 EPS for the quarter, beating the consensus estimate of $2.08 by $0.53. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Matador Resources had a net margin of 19.85% and a return on equity of 13.18%. The business’s revenue for the quarter was up 32.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.53 EPS. As a group, analysts anticipate that Matador Resources Company will post 7.26 earnings per share for the current year.
Matador Resources Announces Dividend The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 10th will be issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Monday, August 10th. Matador Resources’s dividend payout ratio is currently 25.73%.
Insider Buying and Selling In related news, EVP William Thomas Elsener bought 850 shares of Matador Resources stock in a transaction on Monday, August 10th. The shares were purchased at an average price of $50.94 per share, for a total transaction of $43,299.00. Following the completion of the acquisition, the executive vice president owned 114,879 shares in the company, valued at approximately $5,851,936.26. This represents a 0.75% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Glenn W. Stetson bought 500 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The shares were bought at an average price of $53.41 per share, with a total value of $26,705.00. Following the completion of the transaction, the chief operating officer directly owned 95,470 shares in the company, valued at approximately $5,099,052.70. This trade represents a 0.53% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have acquired 31,996 shares of company stock worth $1,675,663. Company insiders own 5.90% of the company’s stock.
Matador Resources Profile (Free Report)
Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.
Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.
Featured Articles Five stocks we like better than Matador Resources VIG, VYM, and VYMI: Which Vanguard Dividend ETF Is Right for You? 3 Closed-End Funds to Maximize Dividend Payments Rocket Lab’s Sell-Off Is Fading—Is It Finally Safe to Buy? $27 Billion in Buybacks: 3 Stocks Betting Their Strong Runs Aren’t Over
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Bank of America Corp DE reduced its position in Matador Resources Company (NYSE:MTDR – Free Report) by 31.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 808,526 shares of the energy company’s stock after selling 368,860 shares during the period. Bank of America Corp DE owned about 0.65% of Matador Resources worth $51,083,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in MTDR. Kestra Investment Management LLC grew its position in Matador Resources by 225.2% in the second quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock worth $25,000 after acquiring an additional 358 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in Matador Resources during the first quarter worth $27,000. Measured Wealth Private Client Group LLC bought a new position in Matador Resources during the third quarter valued at about $35,000. Center for Financial Planning Inc. acquired a new stake in shares of Matador Resources in the first quarter worth about $41,000. Finally, Gilpin Wealth Management LLC bought a new stake in shares of Matador Resources during the 4th quarter worth about $42,000. 91.98% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth A number of brokerages have issued reports on MTDR. Stephens upped their target price on Matador Resources from $92.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 28th. Mizuho upgraded shares of Matador Resources to a “strong-buy” rating in a research note on Friday, July 31st. Zacks Research downgraded shares of Matador Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Wells Fargo & Company raised their target price on shares of Matador Resources from $54.00 to $63.00 and gave the company an “equal weight” rating in a research note on Thursday, April 16th. Finally, UBS Group lifted their target price on shares of Matador Resources from $54.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Matador Resources has an average rating of “Moderate Buy” and a consensus price target of $65.29.
View Our Latest Research Report on MTDR
Matador Resources Trading Up 0.6% Shares of Matador Resources stock opened at $52.55 on Wednesday. Matador Resources Company has a 1 year low of $37.14 and a 1 year high of $66.84. The company’s fifty day simple moving average is $51.29 and its 200-day simple moving average is $53.83. The company has a market cap of $6.50 billion, a price-to-earnings ratio of 9.01 and a beta of 0.76. The company has a current ratio of 0.65, a quick ratio of 0.62 and a debt-to-equity ratio of 0.67.
Matador Resources (NYSE:MTDR – Get Free Report) last released its earnings results on Wednesday, August 5th. The energy company reported $2.61 EPS for the quarter, beating the consensus estimate of $2.08 by $0.53. Matador Resources had a net margin of 19.85% and a return on equity of 13.18%. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the prior year, the company earned $1.53 EPS. The business’s quarterly revenue was up 32.5% compared to the same quarter last year. As a group, sell-side analysts expect that Matador Resources Company will post 7.11 EPS for the current year.
Matador Resources Announces Dividend The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 10th will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.9%. Matador Resources’s dividend payout ratio is currently 25.73%.
Insider Activity In other news, CFO Christopher P. Calvert purchased 1,500 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were purchased at an average cost of $53.24 per share, for a total transaction of $79,860.00. Following the completion of the purchase, the chief financial officer directly owned 41,500 shares of the company’s stock, valued at approximately $2,209,460. The trade was a 3.75% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Glenn W. Stetson purchased 500 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were purchased at an average price of $53.41 per share, for a total transaction of $26,705.00. Following the completion of the purchase, the chief operating officer directly owned 95,470 shares of the company’s stock, valued at approximately $5,099,052.70. This trade represents a 0.53% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders purchased 11,907 shares of company stock valued at $635,712. Insiders own 5.90% of the company’s stock.
About Matador Resources (Free Report)
Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.
Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.
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On August 10, 2026, Matador Resources Co (MTDR) shares rose 6.5% to $52.23, showing a positive trend in price performance. The stock has fluctuated within a 52-
Key Takeaways MTDR's Q2 2026 revenues rose 32.5% as record oil production and stronger realized oil prices boosted results.Matador's oil output reached a record 126,106 Bbl/d, beating its guidance range for the quarter.Matador raised 2026 production guidance after adjusted free cash flow surged to $303.2 million in Q2. Matador Resources Company (MTDR - Free Report) reported second-quarter 2026 adjusted earnings of $2.61 per share, up 70.6% from $1.53 per share a year ago. The bottom line beat the Zacks Consensus Estimate of $2.05 per share by 27.3%.
Total revenues increased 32.5% to $1.2 billion from $895.3 million a year earlier. The top line surpassed the Zacks Consensus Estimate of $942.7 million by 25.8%.
The strong quarterly results were driven by record oil production and higher realized oil prices.
Total production averaged 215,631 barrels of oil equivalent per day (Boe/d), up 3% from 209,013 Boe/d recorded for the second quarter of 2025.
MTDR's Production Hits a RecordMTDR produced a record 126,106 barrels of oil per day (Bbl/d), up 3% from 122,875 Bbl/d in the year-ago quarter. Oil production exceeded management's guidance range of 123,000-125,000 Bbl/d. Natural gas production increased 4% to 537.1 million cubic feet per day (MMcf/d) from 516.8 MMcf/d recorded in the second quarter of 2025.
The production outperformance was primarily driven by stronger-than-expected new wells brought online during the first half, including the company's first 3.4-mile lateral wells on the Guss pad. Matador achieved the results despite about 9,900 barrels of oil equivalent per day (Boe/d) of shut-ins related to weak Waha pricing and third-party plant maintenance.
Matador's Pricing Mix Bolsters RevenuesMatador's average realized oil price, excluding derivatives, increased 53% to $98.16 per barrel from $64.34 per barrel. The stronger oil realization, combined with higher oil volumes, provided a significant lift to upstream revenues.
Natural gas remained a pressure point. Average realized natural gas prices excluding derivatives were negative 79 cents per thousand cubic feet (Mcf) compared with $2.05 per Mcf a year earlier.
Oil and natural gas revenues rose to $1.09 billion from $815.8 million in the prior-year quarter.
MTDR's Cost Profile Shows PressureTotal operating expenses were $32.90 per barrel of oil equivalent (Boe) compared with $29.91 per Boe in the prior-year period. The increase included higher midstream operating costs of $3.09 per Boe, taxes other than income of $5.24 per Boe and general and administrative expenses of $2.10 per Boe.
Lease operating expenses were $5.45 per Boe, below management's expectation of $5.60 due mainly to lower repair and maintenance costs. Depletion, depreciation and amortization were $16.06 per Boe, above the expected $15.65, largely because of proved undeveloped reserves booked from the May federal lease sale.
Matador Expands Midstream & InventoryMatador's combined midstream operations generated adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $89.9 million. San Mateo's natural gas gathering volumes increased 18% year over year to 577 MMcf/D, while natural gas processing volumes rose 14% to 552 MMcf/D.
The company advanced several strategic transactions. The federal lease purchase added more than 141 net operated locations, while the pending Paloma acquisition adds more than 156. Ridge Runner is expected to expand Matador's Woodford position to about 50,000 net acres and add roughly 150 net operated locations.
MTDR's Cash Flow Supports Debt ReductionNet cash provided by operating activities totaled $937.1 million, up from $501.0 million a year ago. Adjusted EBITDA increased to $781.0 million from $594.2 million, while adjusted free cash flow surged to $303.2 million from $132.7 million.
The strong cash generation enabled Matador to repay more than $200 million of borrowings associated with the May federal lease acquisition. Management expects full-year 2026 adjusted free cash flow of approximately $900 million and continues to prioritize debt repayment.
Matador’s Balance SheetAs of June 30, 2026, Matador had cash and restricted cash of $90.9 million and long-term debt of $5.7 billion.
MTDR Raises 2026 Production OutlookMatador raised its 2026 oil production guidance to a range of 127,500-129,000 Bbl/d from 123,000-125,000 Bbl/d. Total production guidance increased to 218,500-223,500 Boe/d from 210,500-216,000 Boe/d.
For the third quarter, the company expects total production to be in the range of 222,000-226,000 Boe/d and oil output to be between 128,500 and 130,500 Bbl/d. Full-year total capital spending is projected at $1.625-$1.725 billion, reflecting accelerated activity and spending tied to recent acquisitions and midstream integration.
MTDR’s Zacks Rank & Key PicksMatador currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the energy sector are PBF Energy Inc. (PBF - Free Report) , Valero Energy Corporation (VLO - Free Report) and Cactus, Inc. (WHD - Free Report) . PBF sports a Zacks Rank #1 (Strong Buy), while VLO and WHD carry a Zacks Rank #2 (Buy) each, at present. You can see the complete list of today’s Zacks Rank #1 stocks here.
PBF reported second-quarter 2026 adjusted earnings of $6.22 per share, surpassing the Zacks Consensus Estimate of $4.05 per share.
As of June 30, 2026, PBF had total debt of $1.75 billion, and cash and cash equivalents of $894.1 million.
Valero reported second-quarter 2026 adjusted earnings of $12.54 per share, which beat the Zacks Consensus Estimate of $9.87 per share.
As of June 30, 2026, VLO had total debt of $9.10 billion, and cash and cash equivalents of $7.87 billion.
Cactus reported second-quarter 2026 adjusted earnings of 93 cents per share, surpassing the Zacks Consensus Estimate of 71 cents per share.
As of June 30, 2026, WHD had cash and cash equivalents of $365 million.
Matador’s Results Were Better Than Feared, But 2026 Headwinds Still MatterMatador Resources NYSE: MTDR reported near-record adjusted free cash flow of $303 million for the second quarter of 2026 and said it used $200 million to reduce borrowings associated with its federal lease acquisition, according to management’s earnings call.
Chairman, Founder and CEO Joe Foran said the company’s acquisition-related bank debt had fallen to less than $1 billion from $1.25 billion. Matador expects it could generate approximately $900 million in free cash flow for the full year and intends to continue prioritizing debt reduction.
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3 Mid-Cap Energy Firms Analysts See Moving Up to the Big Leagues“We’ve exceeded the high end of our production guidance,” Foran said, adding that reserves increased 5% during the quarter to 703 million barrels of oil equivalent from 667 million barrels of oil equivalent.
The company raised its outlook for year-over-year oil production growth to a range of 4% to 7%, which Foran said is being pursued with 1% less capital spending. He reiterated Matador’s strategy of pursuing “profitable growth at a measured pace” while maintaining a focus on balance-sheet management.
Acquisitions and federal leases underpin growth outlook 5 Highly Rated Dividends With 50% Upside According to AnalystsManagement highlighted the integration of the Cardinal acquisition, federal lease purchases, and the Paloma and Ridge Runner transactions as strategic catalysts for future development. Foran said Matador made offers to 26 Cardinal field employees and that all accepted.
Foran also said the company used midstream funds to acquire Cardinal’s midstream assets, while Matador’s E&P business funded acquisitions intended for its upstream portfolio.
The federal lease purchases extended Matador’s inventory life to more than 15 years, according to Foran. He said the acreage includes nine different producing zones and is located near the company’s existing midstream infrastructure, potentially supporting development and gas transportation economics.
Tom Elsener, executive vice president of reservoir engineering and senior asset manager, said the company expects the recently acquired properties to generate rates of return above 80%. He attributed those expectations to high-quality reservoir rock, estimated oil recoveries that are 15% to 20% higher than on other properties, multiple productive benches, longer laterals and lower projected well costs.
Elsener said Matador expects well costs on the acreage to decline into the $600-per-foot range. He also cited the federal leases’ one-eighth royalty rate and potential midstream synergies, which were not included in the cited 80% return estimate.
Development activity could begin this year Bryan Erman, co-president, chief legal officer and head of M&A, said Matador had evaluated the federal acreage for months before the lease sale and began permit-related work immediately after acquiring it. The company could begin operations on the leases as early as late 2026 or in early 2027, he said.
Mac Schmitz, senior vice president of investor relations, added that Matador has 12 operated wells near the federal acreage that are being completed and are expected to begin production in the third quarter. The company also increased planned midstream spending to expand San Mateo and Matador infrastructure toward the federal properties, signaling potential drilling activity near the acquired acreage this year.
Foran said the company expects the acquisitions and federal lease positions to support a strong finish to 2026 and stronger performance in 2027. However, he did not provide a specific 2027 capital spending or production-growth forecast during the call.
Midstream network seen as a flow-assurance advantage Management emphasized that the acquisitions strengthen the fit between Matador’s upstream portfolio and its midstream network. Foran said Cardinal’s pipeline system complements the company’s existing infrastructure across the Delaware Basin and noted that approximately 100 rigs are operating within 10 miles of its pipelines.
He said growing activity in the area could create tighter gas transportation markets and increase the importance of flow assurance. Matador aims to use its infrastructure both for its own production and potentially for third-party customers, according to Foran.
Erman said Matador assigned $50 million of midstream value to the Paloma transaction and nearly $100 million of midstream value to the federal lease sale. He said the acquired assets stand on their own from an E&P perspective while also adding value to the midstream business.
Michael Frenzel, executive vice president and treasurer, said a significant marketing gain in the quarter reflected the company’s marketing team’s efforts to mitigate weak Waha natural gas pricing. He said Matador does not necessarily expect that gain to recur, but anticipates improved natural gas realizations from the Hugh Brinson Pipeline and other agreements with Energy Transfer.
Management keeps acquisition option open while reducing debt Foran described the company as being in a period of deleveraging following its recent transactions, while remaining open to future opportunities that fit Matador’s strategy. He said the company’s revolving-based lending group includes 19 banks and that the group has increased its borrowing base, providing capacity should another acquisition opportunity emerge.
He also pointed to drilling efficiency gains, saying Matador reduced drilling time for three-mile wells from roughly 20 days to about 10 days. The company said those operational improvements can lower capital requirements and improve well economics.
In closing remarks, management also highlighted the first Rae’s Creek well, which Foran said produced more than 2,200 barrels. Elsener said the initial well came online stronger than expected and that the company sees potential for the target as part of its future development program.
About Matador Resources (NYSE:MTDR)Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.
Matador's core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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For the quarter ended June 2026, Matador Resources (MTDR - Free Report) reported revenue of $1.19 billion, up 32.5% over the same period last year. EPS came in at $2.61, compared to $1.53 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $942.74 million, representing a surprise of +25.85%. The company delivered an EPS surprise of +27.32%, with the consensus EPS estimate being $2.05.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Matador performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Average Daily Production Volumes - Oil: 126,106.00 BBL/D versus the eight-analyst average estimate of 124,594.20 BBL/D.Average Daily Production Volumes - Natural gas: 537.1 millions of cubic feet per day versus 512.5 millions of cubic feet per day estimated by eight analysts on average.Average Daily Production Volumes - Total oil equivalent: 215631 millions of barrels of oil equivalent per day versus the eight-analyst average estimate of 210114.4 millions of barrels of oil equivalent per day.Average Sales Prices - Oil, with realized derivatives: $83.19 versus the six-analyst average estimate of $85.76.Average Sales Prices - Natural gas, with realized derivatives: $1.24 versus $0.62 estimated by five analysts on average.Average Sales Prices - Natural gas without realized derivatives: $-0.79 versus $-2.02 estimated by five analysts on average.Average Sales Prices - Oil without realized derivatives: $98.16 compared to the $99.26 average estimate based on five analysts.Revenues- Third-party midstream services revenues: $44.59 million versus the four-analyst average estimate of $45.37 million. The reported number represents a year-over-year change of +6.2%.Revenues- Sales of purchased natural gas: $41.25 million versus $66.99 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -39.3% change.Revenues- Oil and natural gas revenues: $1.09 billion compared to the $933.09 million average estimate based on three analysts. The reported number represents a change of +33.3% year over year.View all Key Company Metrics for Matador here>>>
Shares of Matador have returned -5.3% over the past month versus the Zacks S&P 500 composite's +2.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Matador Resources (MTDR - Free Report) reported $1.19 billion in revenue for the quarter ended June 2026, representing a year-over-year increase of 32.5%. EPS of $2.61 for the same period compares to $1.53 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $942.74 million, representing a surprise of +25.85%. The company delivered an EPS surprise of +27.32%, with the consensus EPS estimate being $2.05.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Matador performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Average Daily Production Volumes - Oil: 126,106.00 BBL/D versus the eight-analyst average estimate of 124,594.20 BBL/D.Average Daily Production Volumes - Natural gas: 537.1 millions of cubic feet per day versus 512.5 millions of cubic feet per day estimated by eight analysts on average.Average Daily Production Volumes - Total oil equivalent: 215631 millions of barrels of oil equivalent per day compared to the 210114.4 millions of barrels of oil equivalent per day average estimate based on eight analysts.Average Sales Prices - Oil, with realized derivatives: $83.19 compared to the $85.76 average estimate based on six analysts.Average Sales Prices - Oil without realized derivatives: $98.16 versus $99.26 estimated by five analysts on average.Average Sales Prices - Natural gas without realized derivatives: $-0.79 versus $-2.02 estimated by five analysts on average.Average Sales Prices - Natural gas, with realized derivatives: $1.24 versus the five-analyst average estimate of $0.62.Revenues- Third-party midstream services revenues: $44.59 million versus the four-analyst average estimate of $45.37 million. The reported number represents a year-over-year change of +6.2%.Revenues- Oil and natural gas revenues: $1.09 billion versus $933.09 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +33.3% change.View all Key Company Metrics for Matador here>>>
Shares of Matador have returned -6.4% over the past month versus the Zacks S&P 500 composite's +3.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Matador Resources (MTDR - Free Report) came out with quarterly earnings of $2.61 per share, beating the Zacks Consensus Estimate of $2.05 per share. This compares to earnings of $1.53 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +27.32%. A quarter ago, it was expected that this independent oil and gas company would post earnings of $1.24 per share when it actually produced earnings of $1.53, delivering a surprise of +23.39%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Matador, which belongs to the Zacks Oil and Gas - Exploration and Production - United States industry, posted revenues of $1.19 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 25.85%. This compares to year-ago revenues of $895.31 million. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Matador shares have added about 15% since the beginning of the year versus the S&P 500's gain of 13%.
What's Next for Matador?While Matador has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Matador was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.63 on $929.52 million in revenues for the coming quarter and $6.96 on $3.64 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Oil and Gas - Exploration and Production - United States is currently in the bottom 13% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, Infinity Natural Resources (INR - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on August 10.
This company is expected to post quarterly earnings of $0.86 per share in its upcoming report, which represents a year-over-year change of -27.1%. The consensus EPS estimate for the quarter has been revised 2.4% higher over the last 30 days to the current level.
Infinity Natural Resources' revenues are expected to be $165.37 million, up 122% from the year-ago quarter.
DALLAS--(BUSINESS WIRE)--Matador Resources Company (NYSE: MTDR) (“Matador” or the “Company”) today reported financial and operating results for the second quarter of 2026, updated full-year 2026 production guidance and provided an update on the four strategic catalysts, which were executed during and shortly after the quarter. A slide presentation summarizing the highlights of this release is included on the Company’s website at www.matadorresources.com on the Events and Presentations page under the Investor Relations tab.
Management Summary Comments
Joseph Wm. Foran, Matador’s Founder, Chairman and CEO, commented, “The second quarter of 2026 was, in our view, one of the most consequential quarters in Matador’s history—not only for what we produced, but also for what we acquired and put in place for the years ahead.
“During the quarter, despite external headwinds and associated oil volume shut-ins, Matador exceeded its expected range for oil production (123,000 to 125,000 barrels of oil per day) and delivered record average oil production of 126,106 barrels of oil per day. On the strength of this performance, we have increased our full-year 2026 outlook for oil from 4% growth up to 7% year-over-year oil production growth. In addition, Matador grew its total proved oil and natural gas reserves 5%, from 667 million barrels of oil equivalent (‘BOE’) at December 31, 2025 to a record 703 million BOE at June 30, 2026. The Company also generated net cash provided by operating activities of $937.1 million, leading to near-record adjusted free cash flow of $303.2 million during the second quarter of 2026, nearly tripling first quarter 2026 adjusted free cash flow of $113.3 million. This cash flow generation allowed Matador to repay over $200 million of borrowings associated with the Federal lease sale in May 2026.
Strategic Transformational Acquisitions
“We successfully executed on four of our strategic catalysts during the first half of 2026 including:
May 2026, Federal Lease Sale. Acquired 5,154 net undeveloped acres located in what we believe to be the most prolific areas of the Delaware Basin with nine or more prospective formations and added over 141 net operated locations.
June/July 2026, Cardinal Midstream Acquisition. San Mateo acquired Cardinal Midstream, which adds complementary midstream assets including (i) a cryogenic natural gas processing plant complex in Loving County, Texas with a designed inlet capacity of approximately 320 million cubic feet of natural gas per day and (ii) approximately 145 miles of low-pressure and high-pressure natural gas gathering pipelines located in West Texas and southern Eddy County, New Mexico. This transaction, which closed on July 31, adds third-party customer relationships, volumes, and expanded scale and enhances flow assurance for Matador and San Mateo’s third-party customers.
July 2026, Paloma Acquisition. Entered into an agreement to acquire Paloma Permian, LLC, including 16,235 net primarily undeveloped acres located in the core of the Delaware Basin in Southeast New Mexico. The majority of this acreage is held by production and adds over 156 net operated locations. The acquisition also includes third quarter 2026 estimated production of approximately 11,100 BOE per day (57% oil) and immediate reserve additions of 55 million BOE.
July 2026, Ridge Runner Acquisition. Entered into an agreement to acquire 13,600 net acres in the emerging Woodford play of the Delaware Basin from Ridge Runner Resources. Once closed, Matador’s total Woodford acreage position will be approximately 50,000 net contiguous, undeveloped acres acquired at approximately $4,000 per acre. This emerging play is substantiated by Matador’s successful Woodford exploration well, the ‘Rae’s Creek,’ which achieved test rates exceeding 2,200 BOE per day (72% oil). Overall, this acquisition combined with Matador’s previous ‘brick-by-brick’ acquisitions in the Woodford formation add approximately 150 net operated locations “In total, once the Paloma and Ridge Runner transactions are completed, which is expected to occur in the fourth quarter of 2026, Matador will have successfully added approximately four additional years of high-quality drilling inventory based on current activity levels. We expect this newly acquired inventory to immediately compete for capital within our portfolio and provide depth to Matador’s future operating plans in 2027 and beyond.
Acquisition Value Creation
“There are many reasons we are excited about the recent catalysts and the announced acquisitions, but we want to highlight for our shareholders and bondholders the primary drivers for these additions:
Capital efficiency on costs. Matador expects future well costs associated with the Federal lease sale and Paloma acquisition will be 15% to 20% below Matador’s current drilling and completion cost per completed lateral foot average. For example, due to reduced drilling times, extended laterals, and multi-well completions, we expect Matador’s third quarter well costs on adjacent assets will be as low as $640 per completed lateral foot, as compared to Matador’s full year 2026 cost per completed lateral foot estimates of $795 per foot.
Productivity. We expect these lease additions to improve Matador’s well productivity profile and contribute to Matador’s growing reserve base. In fact, on assets associated with the Federal lease sale and Paloma acquisition, we expect average 12-month cumulative oil production will be 20% to 30% higher than Matador’s average 12-month cumulative oil production for wells turned to sales in previous years. We also expect 15% to 20% improvement in estimated ultimate recoveries (‘EUR’) in barrel of oil per foot metrics compared to Matador inventory averages.
Revenue. Over 30% of expected inventory additions from the recently-announced transactions benefit from favorable lease terms—in particular, the larger 87.5% net royalty interest (‘NRI’) associated with the Federal leases compared to the smaller NRI interest of 75% normally set on many State and private fee leases. This larger 87.5% NRI increases free cash flow generation and increases net present value over 35% for each well versus similar wells at a lower 75% NRI. In addition, the vast majority of the approximate 450 net locations that will be added from the Federal lease sale and Paloma and Ridge Runner acquisitions have advantaged NRIs (greater than 75% NRI) for an average of 82% NRI.
Economics. Prior to the announcements of the Federal lease sale and Paloma and Ridge Runner acquisitions, Matador highlighted 10 to 15 years of inventory generating, on average, a 50% rate of return at $70 per barrel of oil and $3.00 per thousand cubic feet of natural gas. We expect our rates of return on the properties being acquired will exceed 80% on average, using similar price decks and capital assumptions.
Woodford. Early production results on Matador’s Rae’s Creek well have been encouraging. While we have yet to officially add proved, undeveloped reserves from our Rae’s Creek well, early results indicate oil EUR potential could be over 800,000 barrels. Additionally, we expect 30% to 40% well cost reductions over the next 12 to 18 months, targeting $800 to $900 per completed lateral foot on Woodford wells by 2028. Financing and Debt Repayment
“Matador’s acquisitions—the Federal lease sale, the Paloma acquisition and the Ridge Runner acquisition—will be funded through cash on hand and borrowings under Matador’s existing reserve-based lending (‘RBL’) credit facility. The RBL balance was fully repaid in May 2026. Our supportive bank group subsequently increased the elected commitment level by $500 million, bringing the elected commitment level under the RBL to $2.75 billion.
“Matador generated net cash provided by operating activities of $1.41 billion in the first half of 2026 as compared to $2.43 billion during full year 2025. During the first half of 2026, Matador generated $417 million of adjusted free cash flow, which is almost equal to the $437 million of adjusted free cash flow the Company generated during full year 2025. We currently estimate adjusted free cash flow for the full year 2026 will be approximately $900 million (assuming strip oil and natural gas pricing as of late July 2026), and we will continue to prioritize the use of free cash flow for debt repayment. We expect to be at or close to our 1.0x target leverage ratio by the end of 2027, funded primarily by free cash flow generation depending on commodity prices. Based on current market conditions, we do not anticipate needing to access the equity capital markets at this time.
Integrated Midstream and Marketing
“In addition to Matador’s upstream acquisitions, San Mateo closed on its acquisition of Cardinal Midstream on July 31, which we believe adds growth potential, scale and a diversified customer base for San Mateo. San Mateo’s new, fully integrated system now has over one billion cubic feet per day of designed natural gas processing capacity, placing it as the largest non-public natural gas processing company in the northern Delaware Basin by capacity. This acquisition highlights San Mateo’s ability to grow, using midstream capital to fund midstream expansion, and to provide ‘producer-first’ service to Matador and other customers with greater scale and reach in the Delaware Basin.
“Looking forward, we also continue to expect meaningful improvement in our realized natural gas prices for the remainder of the year. As previously disclosed, Matador secured, at no capital expense, 500,000 million British thermal units (‘MMBtu’) per day of firm natural gas transportation on Energy Transfer’s new Hugh Brinson pipeline. Matador anticipates flow on the Hugh Brinson earlier than previously expected by the end of the third quarter of 2026 and estimates that it will be able to add approximately $90 million annually in increased natural gas revenue for each $0.50 per MMBtu increase it is able to achieve in its average realized natural gas price.
Improved Full-Year 2026 Outlook
“Special appreciation to Matador’s exceptional operational team and field staff is warranted for navigating a difficult quarter, which included shut-in volumes due to negative Waha prices and third-party gathering and processing maintenance. Matador successfully managed these challenges and produced oil volumes exceeding the upper end of May 2026 guidance estimates for the quarter. These better-than-expected results are a testament of the strength and size of Matador’s production base, its operational execution in the field and the responsiveness and flow assurance of its midstream business. Matador is now expecting to increase the number of wells turned to sales in 2026, pushing net lateral footage turned to sales higher for the year and increasing full year production guidance.
“The increased positive outlook for 2026 also will result in accelerated activities and, combined with capital associated with the recent acquisitions discussed earlier, Matador now expects its full-year 2026 drilling, completing and equipping (‘D/C/E’) capital expenditures to be in the $1.48 to $1.56 billion range and midstream capital expenditures in the $145 to $165 million range. It is important to note that the majority of this incremental capital is associated with:
Working interest additions and accelerated wells turned to sales; Matador now estimates to turn-in-line 112.6 net operated wells, a 5% increase versus previous February 2026 guidance estimates of 107.6 net operated wells turned-in-line.
Increased non-operated activity; Matador now estimates to turn-in-line 15.9 net non-operated wells, a 33% increase versus previous February 2026 guidance estimates of 12.0 net non-operated wells.
Midstream infrastructure and integration; capital associated with infrastructure integration related to assets acquired in the Federal lease sale and the Cardinal Midstream acquisition. “Most importantly, I am pleased to report well-level capital discipline and efficiencies remain intact, with Matador’s overall costs per completed lateral foot expected to remain firm at $785 to $805 for 2026. The team also expects these ranges should improve in future years, as the recently announced acquisitions close and become integrated into Matador’s current activity plans going forward.
Closing Thoughts
“We remain focused on finishing 2026 on a strong note and look forward to the opportunities that lie ahead for Matador in 2026 and beyond. We believe our best days are still to come and that our recent acquisitions, operational accomplishments, midstream flow assurance and financial discipline have all helped place Matador in an excellent position for continued strong performance in the months and years ahead.”
All references to Matador’s net income, adjusted net income, Adjusted EBITDA and adjusted free cash flow reported throughout this earnings release are those values attributable to Matador Resources Company shareholders after giving effect to any net income, adjusted net income, Adjusted EBITDA or adjusted free cash flow, respectively, attributable to third-party non-controlling interests, including in San Mateo. Matador owns 51% of San Mateo. For a definition of adjusted net income, adjusted earnings per diluted common share, Adjusted EBITDA and adjusted free cash flow and reconciliations of such non-GAAP financial metrics to their comparable GAAP metrics, please see “Supplemental Non-GAAP Financial Measures” below.
Full-Year 2026 Guidance Update
Effective August 5, 2026, Matador increased its full-year 2026 guidance range for oil, natural gas and total BOE production as set forth in the table below.
Guidance Metric
Prior Full-Year 2026
Guidance Range
New Full-Year 2026
Guidance Range(4)
Oil Production, Bbl per day
123,000 to 125,000
127,500 to 129,000
Natural Gas Production, MMcf per day
525 to 545
546 to 567
Total Oil Equivalent Production, BOE per day
210,500 to 216,000
218,500 to 223,500
Total operating expenses per BOE(1)
$31.00 to $33.00
$32.00 to $34.00
Current income taxes (% of pretax income)
0% to 1%
No Change
D/C/E CapEx(2)
$1.35 to $1.44 billion
$1.48 to $1.56 billion
Midstream CapEx(3)
$100 to $110 million
$145 to $165 million
Total CapEx
$1.45 to $1.55 billion
$1.625 to $1.725 billion
(1) Includes estimated non-cash operating expenses in 2026 of $15.85 to $16.15 per BOE for DD&A and $0.20 to $0.30 per BOE for non-cash general and administrative (G&A) expenses, respectively.
(2) Capital expenditures associated with drilling, completing and equipping wells.
(3) Includes Matador’s share of estimated capital expenditures for San Mateo and other wholly-owned midstream projects.
(4) Includes production associated with the pending Paloma and Ridge Runner acquisitions that are expected to close in the fourth quarter of 2026, subject to customary closing conditions. Includes the Cardinal Midstream acquisition, which closed on July 31, 2026.
The 4% increase in the midpoint of Matador’s expected 2026 production from 213,250 BOE per day to 221,000 BOE per day is attributable to:
1,700 BOE per day (32% oil) from better-than-expected production in the second quarter of 2026 as detailed below,
3,550 BOE per day (64% oil) from organic improvements to expected production in the second half of 2026, and
2,500 BOE per day (57% oil) attributable to the Paloma and Ridge Runner acquisitions. Excluding the impact of these accretive acquisitions, Matador expects to achieve organic oil production growth of 6% year-over-year as compared to its original expectations of 3% growth. As noted previously, Matador is adjusting the midpoint of its 2026 D/C/E capital expenditure guidance from $1.395 billion in May 2026 to $1.52 billion and the midpoint of its 2026 midstream capital expenditure guidance from $105 million in May 2026 to $155 million. The midpoint of total capital expenditure expectations of $1.675 billion represents a 1% improvement as compared to total capital expenditures of $1.694 billion in 2025. Notably, Matador has not made any revisions to its 2026 drilling and completion costs per foot estimates, which remain at $785 to $805 per completed lateral foot.
Operational and Financial Update
Second Quarter 2026 Oil, Natural Gas and Total BOE Production
As summarized in the table below, Matador’s total BOE production averaged 215,631 BOE per day in the second quarter of 2026, which was a 3% year-over-year increase from an average of 209,013 BOE per day in the second quarter of 2025 and 3% better than the midpoint of Matador’s expected second quarter production guidance of 209,000 BOE per day. The better-than-expected oil and natural gas production was primarily due to outperformance of Matador’s new wells that were turned to sales in the first half of the year, including Matador’s first 3.4-mile lateral wells as part of a 13-well batch drilled on the Guss pad on our Eastern Antelope Ridge acreage. This better-than-expected performance was achieved despite approximately 9,900 BOE per day (24% oil) shut in during the quarter due to the elective shut-in of volumes due to weak Waha pricing and scheduled maintenance on third-party treatment plants. Matador had estimated these elective Waha shut-ins and scheduled maintenance would reduce second quarter 2026 volumes by approximately 10,000 BOE per day (30% oil). The Company turned to sales 23.7 net operated wells in the second quarter of 2026, including the 13 Guss wells noted above.
Production
Q2 2026
Average Daily
Volume
Q2 2026
Guidance
Range
Difference
YoY(1)
Total, BOE per day
215,631
206,000 to 212,000
+3% Better than Guidance
+3%
Oil, Bbl per day
126,106
123,000 to 125,000
+2% Better than Guidance
+3%
Natural Gas, MMcf per day
537.1
498.0 to 522.0
+5% Better than Guidance
+4%
(1) Represents year-over-year percentage change from the second quarter of 2025.
Second Quarter 2026 Realized Commodity Prices
The following table summarizes Matador’s realized commodity prices during the second quarter of 2026, as compared to the first quarter of 2026 and the second quarter of 2025.
Sequential (Q2 2026 vs. Q1 2026)
YoY (Q2 2026 vs. Q2 2025)
Realized Commodity Prices
Q2 2026
Q1 2026
Sequential
Change
Q2 2026
Q2 2025
YoY
Change
Oil Prices, per Bbl
$98.16
$72.83
+35%
$98.16
$64.34
+53%
Natural Gas Prices, per Mcf
$(0.79)
$0.64
-223%
$(0.79)
$2.05
-139%
Second Quarter 2026 Operating Expenses
For the second quarter of 2026, operating expenses of $32.90 per BOE were at the high end of Matador’s expected 2026 guidance range of $31.00 to $33.00 per BOE, primarily due to higher non-cash depletion, depreciation and amortization expenses (“DD&A”) of $16.06 per BOE, as compared to expectations of $15.65 per BOE, primarily due to the booking of proved undeveloped reserves from the May 2026 Federal lease sale. Notably, however, lease operating expenses (“LOE”) of $5.45 per BOE were better than expectations of $5.60 per BOE primarily due to lower-than-expected repair and maintenance costs.
The increase in expectations for 2026 operating expenses from approximately $32.00 per BOE in May to $33.00 per BOE is primarily driven by the increase in non-cash DD&A noted above and an increase in midstream services operating expenses associated with the Cardinal Midstream acquisition.
Second Quarter 2026 Capital Expenditures
For the second quarter of 2026, Matador’s total capital expenditures were $436.1 million, which was near the low end of the expected range of $430 to $460 million.
Q2 2026 Capital Expenditures
($ millions)
Actual
May 2026
Guidance
D/C/E
$411.6
Midstream
$24.5
Total
$436.1
$430 to $460
Shareholder Returns Update
During the second quarter of 2026, Matador repurchased 225,000 shares of its common stock at a weighted average price of approximately $49.59 per share for a total of $11 million. Matador’s Board of Directors, management, and staff also continue to be regular purchasers of Matador’s shares in the open market, further aligning ourselves with our shareholders. Matador’s directors and executive officers purchased approximately 13,000 shares of Matador stock during the second quarter of 2026. In addition, over 95% of Matador employees continued to participate in Matador’s Employee Share Purchase Plan, or ESPP.
Midstream Update
Matador’s midstream assets include (1) San Mateo, which is owned 51% by Matador and 49% by Five Point Infrastructure LLC (“Five Point”), and (2) wholly-owned assets, which were largely acquired as part of the Advance acquisition in 2023 and the Ameredev acquisition in 2024. San Mateo distributed $30.1 million to Matador during the second quarter of 2026. On a combined basis, San Mateo and Matador’s wholly-owned midstream assets had quarterly net income of $57.9 million and quarterly Adjusted EBITDA of $89.9 million in the second quarter of 2026. The table below sets forth San Mateo’s throughput volumes for the second quarter of 2026, as compared to the first quarter of 2026 and second quarter of 2025.
Sequential (Q2 2026 vs. Q1 2026)
YoY (Q2 2026 vs. Q2 2025)
San Mateo Throughput Volumes
Q2 2026
Q1 2026
Sequential
Change
Q2 2026
Q2 2025
YoY
Change
Natural gas gathering, MMcf per day
577
530
+9%
577
491
+18%
Natural gas processing, MMcf per day
552
510
+8%
552
486
+14%
Oil gathering and transportation, Bbl per day
41,600
45,700
-9%
41,600
50,300
-17%
Produced water handling, Bbl per day
343,400
381,600
-10%
343,400
414,400
-17%
Third Quarter 2026 Estimates
Third Quarter 2026 Estimated Oil, Natural Gas and Total BOE Production Growth
As noted in the table below, Matador anticipates sequential oil production growth of approximately 3% to a quarterly record of approximately 129,500 barrels per day in the third quarter of 2026, primarily as a result of the 13 Guss wells and the 30 to 33 net operated horizontal wells Matador expects to turn to sales in the Delaware Basin during the third quarter of 2026. These third quarter estimates do not include oil or natural gas volumes associated with the Paloma or the Ridge Runner acquisitions, which are expected to close in the fourth quarter of 2026. The Company expects sequential production growth of approximately 5% to 6% in the fourth quarter of 2026, primarily as a result of the Paloma and Ridge Runner acquisitions, which are expected to contribute approximately 10,000 BOE per day (57% oil) in the fourth quarter.
Q2 and Q3 2026 Production Comparison
Period
Average Daily
Total Production,
BOE per day
Average Daily
Oil Production,
Bbl per day
Average Daily
Natural Gas Production,
MMcf per day
% Oil
Q2 2026
215,631
126,106
537.1
58%
Q3 2026E
222,000 to 226,000
128,500 to 130,500
561.0 to 573.0
58%
Third Quarter 2026 Estimated Wells Turned to Sales
At August 5, 2026, Matador expects to turn to sales 30 to 33 net operated horizontal wells in the Delaware Basin during the third quarter of 2026, including 11.3 net wells near acreage acquired in the May 2026 Federal lease sale.
Third Quarter 2026 Estimated Capital Expenditures
Matador expects D/C/E and midstream capital expenditures for the third quarter of 2026 will be approximately $410 to $440 million. The midpoint of guidance for the third quarter of $425 million is a 3% decrease, as compared to $436 million in the second quarter of 2026.
Second Quarter 2026 Earnings Conference Call
The Company will host a live conference call on Thursday, August 6, 2026, at 10:00 a.m. Central Time to review its second quarter 2026 financial results and operational highlights. To access the live conference call by phone, you can use the following link https://register-conf.media-server.com/register/BI7d538819bdaa42289984ae6f563b48cd and you will be provided with dial in details. To avoid delays, it is recommended that participants dial into the conference call 15 minutes ahead of the scheduled start time.
The live conference call will also be available through the Company’s website at www.matadorresources.com on the Events and Presentations page under the Investor Relations tab. The replay for the event will be available on the Company’s website at www.matadorresources.com on the Events and Presentations page under the Investor Relations tab for one year.
About Matador Resources Company
Matador 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. Its current operations are focused primarily on the oil and liquids-rich portion of the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas. Matador also operates in the Haynesville shale and Cotton Valley plays in Northwest Louisiana. Additionally, Matador conducts midstream operations in support of its exploration, development and production operations and provides natural gas processing, oil transportation services, natural gas, oil and produced water gathering services and produced water disposal services to third parties.
For more information about Matador Resources Company, visit www.matadorresources.com.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. “Forward-looking statements” are statements related to future, not past, events. Forward-looking statements are based on current expectations and include any statement that does not directly relate to a current or historical fact. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “could,” “believe,” “would,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “should,” “continue,” “plan,” “predict,” “potential,” “project,” “hypothetical,” “forecasted” and similar expressions that are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Such forward-looking statements include, but are not limited to, statements about the consummation and timing of the Paloma acquisition and the Ridge Runner acquisition, the expected benefits, opportunities and results of the Cardinal Midstream acquisition, the Paloma acquisition and the Ridge Runner acquisition (collectively, the “Acquisitions”), including the expected impact on cash flows, third-party volumes, system connectivity, flow assurance, expansion opportunities, value creation, reserves additions, inventory additions and other impacts of the Acquisitions, the expected results and commercial viability of Matador’s Woodford acreage and future development thereof, the integration of the Acquisitions, guidance, projected or forecasted financial and operating results, future liquidity, the repayment of debt, the payment of dividends, the amount and timing of share repurchases, results in certain basins, objectives, project timing, expectations and intentions, regulatory and governmental actions and other statements that are not historical facts. Actual results and future events could differ materially from those anticipated in such statements, and such forward-looking statements may not prove to be accurate. These forward-looking statements involve certain risks and uncertainties, including, but not limited to, , the ability of the applicable parties to consummate the Paloma acquisition or the Ridge Runner acquisition in the anticipated timeframe or at all; risks related to the satisfaction or waiver of the conditions to closing the Paloma acquisition or the Ridge Runner acquisition in the anticipated timeframe or at all; risks related to obtaining the requisite regulatory approvals; the ability of Matador and San Mateo to integrate the applicable Acquisitions and realize the anticipated benefits of the applicable Acquisitions; the availability and terms of financing; commodity price volatility; operational risks; regulatory changes; disruption from Matador’s acquisitions or dispositions making it more difficult to maintain business and operational relationships; significant transaction costs associated with Matador’s acquisitions or dispositions; the risk of litigation and/or regulatory actions related to Matador’s acquisitions or dispositions, as well as the following risks related to financial and operational performance: general economic conditions, including the effects of inflation; interest rates; tariffs and trade tensions; Matador’s ability to execute its business plan, including whether its drilling program is successful; changes in oil, natural gas and natural gas liquids prices and the demand for oil, natural gas and natural gas liquids; its ability to replace reserves and efficiently develop current reserves; the operating results of Matador’s midstream oil, natural gas and water gathering and transportation systems, pipelines and facilities, the acquiring of third-party business and the drilling of any additional salt water disposal wells; costs of operations; delays and other difficulties related to producing oil, natural gas and natural gas liquids or the construction, expansion or operation of Matador’s midstream assets; delays and other difficulties related to regulatory and governmental approvals and restrictions; impact on Matador’s operations due to seismic events; its ability to make acquisitions on economically acceptable terms; its ability to integrate acquisitions; availability of sufficient capital to execute its business plan, including from future cash flows, capital markets, available borrowing capacity under its revolving credit facilities and otherwise; the operating results of and the availability of any potential distributions from our joint ventures; weather conditions, environmental conditions and natural disasters; evolving cybersecurity risks; and the other factors that could cause actual results to differ materially from those anticipated or implied in the forward-looking statements. For further discussions of risks and uncertainties, you should refer to Matador’s filings with the Securities and Exchange Commission (“SEC”), including the “Risk Factors” section of Matador’s most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. Matador undertakes no obligation to update these forward-looking statements to reflect events or circumstances occurring after the date of this press release, except as required by law, including the securities laws of the United States and the rules and regulations of the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.
Selected Financial and Operating Items
Sequential and year-over-year quarterly comparisons of selected financial and operating items are shown in the following table:
Three Months Ended
June 30,
2026
March 31,
2026
June 30,
2025
Net Production Volumes:(1)
Oil (MBbl)
11,476
10,825
11,182
Natural gas (Bcf)
48.9
47.2
47.0
Total oil equivalent (MBOE)
19,622
18,683
19,020
Average Daily Production Volumes:(1)
Oil (Bbl/d)
126,106
120,277
122,875
Natural gas (MMcf/d)
537.1
523.9
516.8
Total oil equivalent (BOE/d)
215,631
207,594
209,013
Average Sales Prices:
Oil, without realized derivatives (per Bbl)
$
98.16
$
72.83
$
64.34
Oil, with realized derivatives (per Bbl)
$
83.19
$
68.04
$
64.34
Natural gas, without realized derivatives (per Mcf)
$
(0.79
)
$
0.64
$
2.05
Natural gas, with realized derivatives (per Mcf)
$
1.24
$
1.44
$
2.20
Revenues (millions):
Oil and natural gas revenues
$
1,087.6
$
818.7
$
815.8
Third-party midstream services revenues
$
44.6
$
42.1
$
42.0
Realized (loss) gain on derivatives
$
(72.5
)
$
(14.5
)
$
6.9
Operating Expenses (per BOE):
Lease operating
$
5.45
$
5.76
$
5.53
Transportation and processing
$
0.96
$
0.79
$
0.86
Midstream operating
$
3.09
$
2.96
$
2.34
Depletion, depreciation and amortization
$
16.06
$
15.67
$
15.91
Taxes other than income
$
5.24
$
3.79
$
3.58
General and administrative(2)
$
2.10
$
2.09
$
1.69
Total(10)
$
32.90
$
31.06
$
29.91
Other (millions):
Net sales of purchased natural gas(4)
$
80.2
$
38.4
$
32.0
Net income (loss) (millions)(5)
$
390.7
$
(35.9
)
$
150.2
Earnings (loss) per common share (diluted)(5)
$
3.15
$
(0.29
)
$
1.21
Adjusted net income (millions)(5)(6)
$
324.6
$
189.5
$
190.9
Adjusted earnings per common share (diluted)(5)(7)
$
2.61
$
1.53
$
1.53
Adjusted EBITDA (millions)(5)(8)
$
781.0
$
577.2
$
594.2
Net cash provided by operating activities (millions)(9)
$
937.1
$
470.5
$
501.0
Adjusted free cash flow (millions)(5)(10)
$
303.2
$
113.3
$
132.7
San Mateo net income (millions)(11)
$
46.9
$
40.9
$
65.6
San Mateo Adjusted EBITDA (millions)(8)(11)
$
77.3
$
68.9
$
85.5
San Mateo net cash provided by operating activities (millions)(11)
$
119.8
$
35.1
$
23.3
San Mateo adjusted free cash flow (millions)(9)(10)(11)
Less accumulated depletion, depreciation and amortization
(8,002,990
)
(7,395,142
)
Net property and equipment
12,263,280
10,731,298
Other assets
Other long-term assets
224,177
162,703
Total assets
$
13,494,566
$
11,710,569
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Accounts payable and accrued liabilities
$
836,776
$
540,620
Royalties payable
399,711
351,062
Derivative instruments
141,092
—
Advances from joint interest owners
78,280
64,169
Other current liabilities
93,254
75,658
Total current liabilities
1,549,113
1,031,509
Long-term liabilities
Borrowings under Credit Agreement
939,000
398,000
Borrowings under San Mateo Credit Facility
911,000
883,000
Senior unsecured notes payable
2,366,410
2,121,102
Asset retirement obligations
155,191
144,063
Derivative instruments
8,470
—
Deferred income taxes
1,124,901
1,015,931
Other long-term liabilities
189,583
120,312
Total long-term liabilities
5,694,555
4,682,408
Shareholders’ equity
Common stock - $0.01 par value, 160,000,000 shares authorized; 124,511,431 and 124,409,739 shares issued; and 123,998,298 and 124,262,322 shares outstanding, respectively
1,245
1,244
Additional paid-in capital
2,537,746
2,509,118
Retained earnings
3,414,634
3,153,112
Treasury stock, at cost, 513,133 and 147,417 shares, respectively
(25,002
)
(5,333
)
Total Matador Resources Company shareholders’ equity
5,928,623
5,658,141
Non-controlling interest in subsidiaries
322,275
338,511
Total shareholders’ equity
6,250,898
5,996,652
Total liabilities and shareholders’ equity
$
13,494,566
$
11,710,569
Matador Resources Company and Subsidiaries
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - UNAUDITED
(In thousands, except per share data)
Three Months Ended
June 30,
Six Months Ended
June 30,
2026
2025
2026
2025
Revenues
Oil and natural gas revenues
$
1,087,584
$
815,774
$
1,906,315
$
1,725,692
Third-party midstream services revenues
44,593
42,007
86,684
75,506
Sales of purchased natural gas
41,246
67,897
122,028
130,653
Realized (loss) gain on derivatives
(72,488
)
6,947
(86,981
)
9,661
Unrealized gain (loss) on derivatives
85,457
(37,313
)
(170,017
)
(32,242
)
Total revenues
1,186,392
895,312
1,858,029
1,909,270
Expenses
Lease operating
106,948
105,230
214,474
209,641
Transportation and processing
18,934
16,451
33,776
36,512
Midstream operating
60,536
44,457
115,763
96,260
Purchased natural gas
(38,912
)
35,944
3,423
90,077
Depletion, depreciation and amortization
315,144
302,602
607,848
584,493
Taxes other than income
102,794
68,010
173,685
145,059
Accretion of asset retirement obligations
2,352
1,767
4,620
3,494
General and administrative
41,274
32,187
80,297
65,919
Total expenses
609,070
606,648
1,233,886
1,231,455
Operating income
577,322
288,664
624,143
677,815
Other income (expense)
Interest expense
(60,819
)
(53,345
)
(112,344
)
(102,834
)
Loss on debt extinguishment
—
—
(15,587
)
—
Loss on asset sales
—
—
(578
)
—
Other income
3,986
3,502
8,353
9,008
Total other expense
(56,833
)
(49,843
)
(120,156
)
(93,826
)
Income before income taxes
520,489
238,821
503,987
583,989
Income tax provision (benefit)
Current
226
23,089
226
46,070
Deferred
106,611
33,373
105,927
93,313
Total income tax provision
106,837
56,462
106,153
139,383
Net income
413,652
182,359
397,834
444,606
Net income attributable to non-controlling interest in subsidiaries
(23,000
)
(32,134
)
(43,054
)
(54,296
)
Net income attributable to Matador Resources Company shareholders
$
390,652
$
150,225
$
354,780
$
390,310
Earnings per common share
Basic
$
3.15
$
1.21
$
2.86
$
3.13
Diluted
$
3.15
$
1.21
$
2.86
$
3.12
Weighted average common shares outstanding
Basic
124,156
124,418
124,205
124,804
Diluted
124,156
124,456
124,205
124,977
Matador Resources Company and Subsidiaries
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED
(In thousands)
Three Months Ended
June 30,
Six Months Ended
June 30,
2026
2025
2026
2025
Operating activities
Net income
$
413,652
$
182,359
$
397,834
$
444,606
Adjustments to reconcile net income to net cash provided by operating activities
Unrealized (gain) loss on derivatives
(85,457
)
37,313
170,017
32,242
Depletion, depreciation and amortization
315,144
302,602
607,848
584,493
Accretion of asset retirement obligations
2,352
1,767
4,620
3,494
Stock-based compensation expense
6,099
4,572
10,617
8,460
Loss on extinguishment of debt
—
—
15,587
—
Deferred income tax provision
106,611
33,373
105,927
93,313
Amortization of debt issuance costs and other debt-related costs
3,530
3,673
7,068
7,336
Other non-cash changes
648
908
7,301
1,117
Changes in operating assets and liabilities
Accounts receivable, prepaid expenses and other current assets
40,055
(24,827
)
(148,629
)
(5,198
)
Lease and well equipment inventory
(6,172
)
(11,122
)
(5,120
)
(21,955
)
Other long-term assets
1,887
(837
)
1,738
(1,029
)
Accounts payable, accrued liabilities and other current liabilities
60,808
(37,812
)
174,265
6,281
Royalties payable
62,649
17,453
48,650
49,694
Advances from joint interest owners
17,173
(6,392
)
14,111
26,112
Other long-term liabilities
(1,851
)
(2,003
)
(4,160
)
(60
)
Net cash provided by operating activities
937,128
501,027
1,407,674
1,228,906
Investing activities
Drilling, completion and equipping capital expenditures
(367,968
)
(367,114
)
(745,343
)
(745,476
)
Acquisition of Cardinal
(37,604
)
—
(37,604
)
—
Acquisition of oil and natural gas properties
(1,167,179
)
(43,456
)
(1,228,834
)
(125,118
)
Midstream capital expenditures
(21,063
)
(86,910
)
(38,697
)
(159,844
)
Acquisition of midstream assets
(6,200
)
—
(6,200
)
—
Expenditures for other property and equipment
44
(814
)
(2,088
)
(1,756
)
Proceeds from sale of assets
—
19
858
22,257
Proceeds from sale of equity method investment
—
3,263
—
3,263
Net cash used in investing activities
(1,599,970
)
(495,012
)
(2,057,908
)
(1,006,674
)
Financing activities
Repayments of borrowings under Credit Agreement
(965,000
)
(640,000
)
(1,613,000
)
(1,235,500
)
Borrowings under Credit Agreement
1,719,000
625,000
2,154,000
1,030,000
Repayments of borrowings under San Mateo Credit Facility
(76,000
)
(65,000
)
(181,000
)
(165,000
)
Borrowings under San Mateo Credit Facility
69,000
188,000
209,000
328,000
Cost to amend credit facilities
(2,058
)
(463
)
(2,192
)
(463
)
Proceeds from issuance of senior unsecured notes
—
—
750,000
—
Cost to issue senior unsecured notes
(783
)
—
(12,909
)
—
Purchase of senior unsecured notes
—
—
(509,670
)
—
Repurchases of common stock
(11,399
)
(44,249
)
(12,106
)
(44,249
)
Proceeds from sale-leaseback financing obligation
—
—
24,000
—
Payments on sale-leaseback financing obligation
(331
)
—
(331
)
—
Dividends paid
(46,441
)
(38,970
)
(93,258
)
(78,150
)
Contributions related to formation of San Mateo
8,200
6,400
15,100
9,200
Distributions to non-controlling interest owners of less-than-wholly-owned subsidiaries
(28,910
)
(26,569
)
(59,290
)
(62,230
)
Taxes paid related to net share settlement of stock-based compensation
(3,589
)
(536
)
(6,005
)
(11,081
)
Other
(404
)
(358
)
(667
)
(715
)
Net cash provided by (used in) financing activities
661,285
3,255
661,672
(230,188
)
Change in cash and restricted cash
(1,557
)
9,270
11,438
(7,956
)
Cash and restricted cash at beginning of period
92,472
77,516
79,477
94,742
Cash and restricted cash at end of period
$
90,915
$
86,786
$
90,915
$
86,786
Supplemental Non-GAAP Financial Measures
Adjusted EBITDA
This press release includes the non-GAAP financial measure of Adjusted EBITDA. Adjusted EBITDA is a supplemental non-GAAP financial measure that is used by management and external users of the Company’s consolidated financial statements, such as securities analysts, investors, lenders and rating agencies. “GAAP” means Generally Accepted Accounting Principles in the United States of America. The Company believes Adjusted EBITDA helps it evaluate its operating performance and compare its results of operations from period to period without regard to its financing methods or capital structure. The Company defines, on a consolidated basis and for San Mateo, Adjusted EBITDA as earnings before interest expense, income taxes, depletion, depreciation and amortization, accretion of asset retirement obligations, property impairments, unrealized derivative gains and losses, non-recurring transaction costs for certain acquisitions, certain other non-cash items and non-cash stock-based compensation expense and net gain or loss on asset sales and impairment. Adjusted EBITDA is not a measure of net income (loss) or net cash provided by operating activities as determined by GAAP. All references to Matador’s Adjusted EBITDA are those values attributable to Matador Resources Company shareholders after giving effect to Adjusted EBITDA attributable to third-party non-controlling interests, including in San Mateo.
Adjusted EBITDA should not be considered an alternative to, or more meaningful than, net income (loss) or net cash provided by operating activities as determined in accordance with GAAP or as an indicator of the Company’s operating performance or liquidity. Certain items excluded from Adjusted EBITDA are significant components of understanding and assessing a company’s financial performance, such as a company’s cost of capital and tax structure. Adjusted EBITDA may not be comparable to similarly titled measures of another company because all companies may not calculate Adjusted EBITDA in the same manner. The following table presents the calculation of Adjusted EBITDA and the reconciliation of Adjusted EBITDA to the GAAP financial measures of net income (loss) and net cash provided by operating activities, respectively, that are of a historical nature. Where references are pro forma, forward-looking, preliminary or prospective in nature, and not based on historical fact, the table does not provide a reconciliation. The Company could not provide such reconciliation without undue hardship because such Adjusted EBITDA numbers are estimations, approximations and/or ranges. In addition, it would be difficult for the Company to present a detailed reconciliation on account of many unknown variables for the reconciling items, including future income taxes, full-cost ceiling impairments, unrealized gains or losses on derivatives and gains or losses on asset sales and impairment. For the same reasons, the Company is unable to address the probable significance of the unavailable information, which could be material to future results.
Adjusted EBITDA – Matador Resources Company
Three Months Ended
June 30,
March 31,
June 30,
(In thousands)
2026
2026
2025
Unaudited Adjusted EBITDA Reconciliation to Net Income (Loss):
Net income (loss) attributable to Matador Resources Company shareholders
$
390,652
$
(35,872
)
$
150,225
Net income attributable to non-controlling interest in subsidiaries
23,000
20,054
32,134
Net income (loss)
413,652
(15,818
)
182,359
Interest expense
60,819
51,525
53,345
Total income tax provision (benefit)
106,837
(684
)
56,462
Depletion, depreciation and amortization
315,144
292,704
302,602
Accretion of asset retirement obligations
2,352
2,268
1,767
Unrealized (gain) loss on derivatives
(85,457
)
255,474
37,313
Non-cash stock-based compensation expense
6,099
4,518
4,572
Loss on debt extinguishment
—
15,587
—
Loss on asset sales
—
578
—
Other non-recurring (income) expense
(573
)
4,798
(2,300
)
Consolidated Adjusted EBITDA
818,873
610,950
636,120
Adjusted EBITDA attributable to non-controlling interest in subsidiaries
(37,864
)
(33,780
)
(41,875
)
Adjusted EBITDA attributable to Matador Resources Company shareholders
$
781,009
$
577,170
$
594,245
Three Months Ended
June 30,
March 31,
June 30,
(In thousands)
2026
2026
2025
Unaudited Adjusted EBITDA Reconciliation to Net Cash Provided by Operating Activities:
Net cash provided by operating activities
$
937,128
$
470,546
$
501,027
Net change in operating assets and liabilities
(174,549
)
93,694
65,540
Interest expense, net of non-cash portion
57,289
47,987
49,672
Current income tax provision
226
—
23,089
Other non-cash and non-recurring income
(1,221
)
(1,277
)
(3,208
)
Adjusted EBITDA attributable to non-controlling interest in subsidiaries
(37,864
)
(33,780
)
(41,875
)
Adjusted EBITDA attributable to Matador Resources Company shareholders
$
781,009
$
577,170
$
594,245
Adjusted EBITDA – San Mateo (100%)
Three Months Ended
June 30,
March 31,
June 30,
(In thousands)
2026
2026
2025
Unaudited Adjusted EBITDA Reconciliation to Net Income:
Net income
$
46,940
$
40,928
$
65,580
Depletion, depreciation and amortization
15,772
15,298
11,300
Interest expense
13,354
12,561
8,464
Accretion of asset retirement obligations
154
151
116
Other non-recurring expense
1,053
—
—
Adjusted EBITDA
$
77,273
$
68,938
$
85,460
Three Months Ended
June 30,
March 31,
June 30,
(In thousands)
2026
2026
2025
Unaudited Adjusted EBITDA Reconciliation to Net Cash Provided by Operating Activities:
Net cash provided by operating activities
$
119,759
$
35,073
$
23,305
Net change in operating assets and liabilities
(55,524
)
21,172
54,160
Interest expense, net of non-cash portion
12,732
11,946
7,995
Other non-cash and non-recurring expense
306
747
—
Adjusted EBITDA
$
77,273
$
68,938
$
85,460
Adjusted EBITDA – Combined Midstream (100%)
Three Months Ended
June 30,
March 31,
June 30,
(In thousands)
2026
2026
2025
Matador Midstream(1)
Unaudited Adjusted EBITDA Reconciliation to Net Income:
Net income
$
10,966
$
11,818
$
7,981
Depletion, depreciation and amortization
1,615
1,427
1,618
Accretion of asset retirement obligations
8
6
5
Adjusted EBITDA attributable to Matador Midstream(1)
$
12,589
$
13,251
$
9,604
Adjusted EBITDA attributable to San Mateo
$
77,273
$
68,938
$
85,460
Adjusted EBITDA - Combined Midstream
$
89,862
$
82,189
$
95,064
(1) Represents activity associated with Matador’s wholly-owned midstream assets.
Adjusted Net Income and Adjusted Earnings Per Diluted Common Share
This press release includes the non-GAAP financial measures of adjusted net income and adjusted earnings per diluted common share. These non-GAAP items are measured as net income (loss) attributable to Matador Resources Company shareholders, adjusted for dollar and per share impact of certain items, including unrealized gains or losses on derivatives, the impact of full-cost ceiling impairment charges, if any, and non-recurring transaction costs for certain acquisitions or other non-recurring income or expense items, along with the related tax effect for all periods. This non-GAAP financial information is provided as additional information for investors and is not in accordance with, or an alternative to, GAAP financial measures. Additionally, these non-GAAP financial measures may be different than similar measures used by other companies. The Company believes the presentation of adjusted net income and adjusted earnings per diluted common share provides useful information to investors, as it provides them an additional relevant comparison of the Company’s performance across periods and to the performance of the Company’s peers. In addition, these non-GAAP financial measures reflect adjustments for items of income and expense that are often excluded by securities analysts and other users of the Company’s financial statements in evaluating the Company’s performance. The table below reconciles adjusted net income and adjusted earnings per diluted common share to their most directly comparable GAAP measure of net income (loss) attributable to Matador Resources Company shareholders.
Three Months Ended
June 30,
March 31,
June 30,
2026
2026
2025
(In thousands, except per share data)
Unaudited Adjusted Net Income and Adjusted Earnings Per Share Reconciliation to Net Income (Loss):
Net income (loss) attributable to Matador Resources Company shareholders
$
390,652
$
(35,872
)
$
150,225
Total income tax provision (benefit)
106,837
(684
)
56,462
Income (loss) attributable to Matador Resources Company shareholders before taxes
497,489
(36,556
)
206,687
Less non-recurring and unrealized charges to income before taxes:
Unrealized (gain) loss on derivatives
(85,457
)
255,474
37,313
Loss on debt extinguishment
—
15,587
—
Loss on asset sales
—
578
—
Other non-recurring (income) expense
(1,089
)
4,798
(2,300
)
Adjusted income attributable to Matador Resources Company shareholders before taxes
410,943
239,881
241,700
Income tax expense(1)
86,298
50,375
50,757
Adjusted net income attributable to Matador Resources Company shareholders (non-GAAP)
$
324,645
$
189,506
$
190,943
Basic weighted average shares outstanding, without participating securities
123,557
123,480
123,855
Dilutive effect of participating securities
599
774
563
Weighted average shares outstanding - basic
124,156
124,254
124,418
Dilutive effect of options and restricted stock units
—
—
38
Weighted average common shares outstanding - diluted
124,156
124,254
124,456
Adjusted earnings per share attributable to Matador Resources Company shareholders (non-GAAP)
Basic
$
2.61
$
1.53
$
1.53
Diluted
$
2.61
$
1.53
$
1.53
(1) Estimated using federal statutory tax rate in effect for the period.
Adjusted Free Cash Flow
This press release includes the non-GAAP financial measure of adjusted free cash flow. This non-GAAP item is measured, on a consolidated basis for the Company and for San Mateo, as net cash provided by operating activities, adjusted for changes in working capital and cash performance incentives that are not included as operating cash flows, less cash flows used for capital expenditures, adjusted for changes in capital accruals. On a consolidated basis, these numbers are also adjusted for the cash flows related to non-controlling interest in subsidiaries that represent cash flows not attributable to Matador shareholders. Adjusted free cash flow should not be considered an alternative to, or more meaningful than, net cash provided by operating activities as determined in accordance with GAAP or an indicator of the Company’s liquidity. Adjusted free cash flow is used by the Company, securities analysts and investors as an indicator of the Company’s ability to manage its operating cash flow, internally fund its D/C/E capital expenditures, pay dividends and service or incur additional debt, without regard to the timing of settlement of either operating assets and liabilities or accounts payable related to capital expenditures. Additionally, this non-GAAP financial measure may be different than similar measures used by other companies. The Company believes the presentation of adjusted free cash flow provides useful information to investors, as it provides them an additional relevant comparison of the Company’s performance, sources and uses of capital associated with its operations across periods and to the performance of the Company’s peers. In addition, this non-GAAP financial measure reflects adjustments for items of cash flows that are often excluded by securities analysts and other users of the Company’s financial statements in evaluating the Company’s cash spend.
The table below reconciles adjusted free cash flow to its most directly comparable GAAP measure of net cash provided by operating activities. All references to Matador’s adjusted free cash flow are those values attributable to Matador shareholders after giving effect to adjusted free cash flow attributable to third-party non-controlling interests, including in San Mateo. Where references are pro forma, forward-looking, preliminary or prospective in nature, and not based on historical fact, the table does not provide a reconciliation. Matador is unable to provide a reconciliation of this forward-looking non-GAAP financial measure to the most directly comparable GAAP measure without unreasonable effort due to the inherent difficulty in forecasting certain reconciling items. For the same reasons, the Company is unable to address the probable significance of the unavailable information, which could be material to future results.
Adjusted Free Cash Flow - Matador Resources Company
Three Months Ended
Year Ended
June 30,
March 31,
June 30,
December 31,
(In thousands)
2026
2026
2025
2025
Net cash provided by operating activities
$
937,128
$
470,546
$
501,027
$
2,425,015
Net change in operating assets and liabilities
(174,549
)
93,694
65,540
(176,189
)
San Mateo discretionary cash flow attributable to non-controlling interest in subsidiaries(1)
(31,475
)
(27,560
)
(37,958
)
(126,916
)
Performance incentives received from Five Point
8,200
6,900
6,400
13,000
Total discretionary cash flow
739,304
543,580
535,009
2,134,910
Drilling, completion and equipping capital expenditures
367,968
377,375
367,114
1,542,253
Midstream capital expenditures
21,063
17,634
86,910
297,746
Expenditures for other property and equipment
(44
)
2,132
814
4,246
Net change in capital accruals
60,852
37,934
(7,227
)
(29,588
)
San Mateo accrual-based capital expenditures related to non-controlling interest in subsidiaries(2)
(13,765
)
(4,805
)
(45,276
)
(116,703
)
Total accrual-based capital expenditures(3)
436,074
430,270
402,335
1,697,954
Adjusted free cash flow
$
303,230
$
113,310
$
132,674
$
436,956
Quarterly distributions from San Mateo to Matador
$
30,090
$
31,620
$
29,580
$
136,680
(1) Represents Five Point’s 49% interest in San Mateo discretionary cash flow, as computed below.
(2) Represents Five Point’s 49% interest in accrual-based San Mateo capital expenditures, as computed below.
(3) Represents drilling, completion and equipping costs, Matador’s share of San Mateo capital expenditures plus 100% of other midstream capital expenditures not associated with San Mateo.
Adjusted Free Cash Flow - San Mateo (100%)
Three Months Ended
Year Ended
June 30,
March 31,
June 30,
December 31,
(In thousands)
2026
2026
2025
2025
Net cash provided by San Mateo operating activities
$
119,759
$
35,073
$
23,305
$
248,193
Net change in San Mateo operating assets and liabilities
DALLAS--(BUSINESS WIRE)--Matador Resources Company (NYSE: MTDR) (“Matador” or the “Company”) today announced that San Mateo Midstream, LLC (“San Mateo”), Matador's 51%-owned midstream joint venture with 49% co-owner Five Point Infrastructure (“Five Point”), has successfully completed the acquisition of the operating subsidiaries of Cardinal Midstream Partners, LLC (“Cardinal”), a portfolio company of EnCap Flatrock Midstream, for total cash consideration of $752 million, subject to customary po.
Wall Street expects a year-over-year increase in earnings on higher revenues when Matador Resources (MTDR - Free Report) reports results for the quarter ended June 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.
The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on August 5. On the other hand, if they miss, the stock may move lower.
While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.
Zacks Consensus EstimateThis independent oil and gas company is expected to post quarterly earnings of $2.00 per share in its upcoming report, which represents a year-over-year change of +30.7%.
Revenues are expected to be $948 million, up 5.9% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 9.4% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Matador?For Matador, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -4.88%.
On the other hand, the stock currently carries a Zacks Rank of #4.
So, this combination makes it difficult to conclusively predict that Matador will beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Matador would post earnings of $1.24 per share when it actually produced earnings of $1.53, delivering a surprise of +23.39%.
Over the last four quarters, the company has beaten consensus EPS estimates four times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Matador doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Arrowstreet Capital Limited Partnership purchased a new position in shares of Matador Resources Company (NYSE:MTDR – Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 489,148 shares of the energy company’s stock, valued at approximately $30,904,000. Arrowstreet Capital Limited Partnership owned about 0.39% of Matador Resources as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also made changes to their positions in MTDR. Burford Brothers Inc. grew its position in shares of Matador Resources by 0.8% during the 1st quarter. Burford Brothers Inc. now owns 26,798 shares of the energy company’s stock valued at $1,693,000 after acquiring an additional 225 shares during the period. Fiduciary Trust Co grew its stake in shares of Matador Resources by 2.2% in the third quarter. Fiduciary Trust Co now owns 11,821 shares of the energy company’s stock valued at $531,000 after buying an additional 253 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its stake in shares of Matador Resources by 2.9% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 9,138 shares of the energy company’s stock valued at $388,000 after purchasing an additional 254 shares during the period. Verdence Capital Advisors LLC grew its stake in shares of Matador Resources by 3.5% in the fourth quarter. Verdence Capital Advisors LLC now owns 8,233 shares of the energy company’s stock worth $349,000 after acquiring an additional 278 shares in the last quarter. Finally, Mitchell & Pahl Private Wealth LLC increased its holdings in Matador Resources by 1.3% during the 1st quarter. Mitchell & Pahl Private Wealth LLC now owns 23,240 shares of the energy company’s stock worth $1,468,000 after purchasing an additional 304 shares during the period. 91.98% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades Several equities analysts have commented on the stock. Stephens increased their price target on shares of Matador Resources from $92.00 to $93.00 and gave the company an “overweight” rating in a research note on Tuesday. UBS Group lowered their target price on shares of Matador Resources from $56.00 to $54.00 and set a “neutral” rating on the stock in a report on Monday. KeyCorp upped their price objective on Matador Resources from $61.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, April 2nd. Zacks Research downgraded Matador Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Finally, Wells Fargo & Company boosted their target price on shares of Matador Resources from $54.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 16th. Twelve research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $66.00.
View Our Latest Report on MTDR
Insider Activity In other news, CEO Joseph Wm Foran bought 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were acquired at an average cost of $53.07 per share, with a total value of $106,140.00. Following the transaction, the chief executive officer owned 11,479 shares of the company’s stock, valued at $609,190.53. This represents a 21.10% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Glenn W. Stetson acquired 500 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was purchased at an average cost of $53.41 per share, with a total value of $26,705.00. Following the completion of the transaction, the chief operating officer owned 95,470 shares in the company, valued at $5,099,052.70. The trade was a 0.53% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 11,907 shares of company stock worth $635,712 over the last three months. 5.90% of the stock is currently owned by corporate insiders.
Matador Resources Stock Performance MTDR opened at $46.19 on Wednesday. Matador Resources Company has a 1-year low of $37.14 and a 1-year high of $66.84. The stock has a market cap of $5.74 billion, a P/E ratio of 11.88 and a beta of 0.74. The stock’s 50 day simple moving average is $52.51 and its 200 day simple moving average is $53.37. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.73 and a quick ratio of 0.70.
Matador Resources (NYSE:MTDR – Get Free Report) last posted its earnings results on Wednesday, May 6th. The energy company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.29. The company had revenue of $941.60 million for the quarter, compared to the consensus estimate of $871.57 million. Matador Resources had a return on equity of 11.20% and a net margin of 14.41%.Matador Resources’s quarterly revenue was down 33.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.99 earnings per share. As a group, equities analysts anticipate that Matador Resources Company will post 6.83 EPS for the current fiscal year.
Matador Resources Dividend Announcement The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 10th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Monday, August 10th. Matador Resources’s payout ratio is currently 38.56%.
Matador Resources Company Profile (Free Report)
Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.
Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.
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Matador Resources Company (NYSE:MTDR – Get Free Report)’s share price traded down 6.3% on Monday after UBS Group lowered their price target on the stock from $56.00 to $54.00. UBS Group currently has a neutral rating on the stock. Matador Resources traded as low as $47.85 and last traded at $47.5940. 1,733,343 shares changed hands during trading, a decline of 6% from the average session volume of 1,838,883 shares. The stock had previously closed at $50.81.
A number of other analysts also recently commented on MTDR. Wells Fargo & Company increased their price target on Matador Resources from $54.00 to $63.00 and gave the company an “equal weight” rating in a research report on Thursday, April 16th. Mizuho boosted their price target on shares of Matador Resources from $74.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. KeyCorp raised their price objective on shares of Matador Resources from $61.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, April 2nd. BMO Capital Markets boosted their target price on shares of Matador Resources from $65.00 to $72.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. Finally, Zacks Research lowered shares of Matador Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Eleven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $63.92.
Read Our Latest Stock Report on MTDR
Insider Buying and Selling In related news, CEO Joseph Wm Foran acquired 4,675 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were bought at an average cost of $52.36 per share, for a total transaction of $244,783.00. Following the purchase, the chief executive officer owned 6,997 shares in the company, valued at $366,362.92. This trade represents a 201.34% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Glenn W. Stetson bought 500 shares of Matador Resources stock in a transaction on Tuesday, June 9th. The shares were bought at an average cost of $53.41 per share, with a total value of $26,705.00. Following the acquisition, the chief operating officer directly owned 95,470 shares in the company, valued at approximately $5,099,052.70. This represents a 0.53% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders acquired 11,907 shares of company stock valued at $635,712. Company insiders own 5.90% of the company’s stock.
Institutional Inflows and Outflows A number of hedge funds have recently made changes to their positions in MTDR. Harbor Capital Advisors Inc. increased its stake in Matador Resources by 184.9% in the 4th quarter. Harbor Capital Advisors Inc. now owns 30,836 shares of the energy company’s stock worth $1,309,000 after acquiring an additional 20,011 shares during the last quarter. Wedge Capital Management L L P NC lifted its position in Matador Resources by 25.5% during the fourth quarter. Wedge Capital Management L L P NC now owns 78,035 shares of the energy company’s stock valued at $3,312,000 after purchasing an additional 15,859 shares during the last quarter. Peterson Wealth Services increased its holdings in shares of Matador Resources by 333.7% in the 4th quarter. Peterson Wealth Services now owns 51,356 shares of the energy company’s stock worth $2,180,000 after buying an additional 39,516 shares during the last quarter. Thrivent Financial for Lutherans raised its position in shares of Matador Resources by 2.1% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,054,232 shares of the energy company’s stock valued at $44,742,000 after buying an additional 21,630 shares in the last quarter. Finally, Morningstar Investment Management LLC bought a new stake in shares of Matador Resources during the 1st quarter worth $2,630,000. 91.98% of the stock is currently owned by hedge funds and other institutional investors.
Matador Resources Trading Down 7.3% The stock has a 50 day moving average of $52.82 and a 200 day moving average of $53.32. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.73 and a quick ratio of 0.70. The firm has a market cap of $5.85 billion, a P/E ratio of 12.10 and a beta of 0.74.
Matador Resources (NYSE:MTDR – Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.24 by $0.29. The firm had revenue of $941.60 million for the quarter, compared to analyst estimates of $871.57 million. Matador Resources had a return on equity of 11.20% and a net margin of 14.41%.The company’s revenue was down 33.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.99 EPS. As a group, equities research analysts predict that Matador Resources Company will post 6.83 EPS for the current year.
Matador Resources Announces Dividend The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 10th will be paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, August 10th. Matador Resources’s dividend payout ratio (DPR) is 38.56%.
Matador Resources Company Profile (Get Free Report)
Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.
Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.
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DALLAS--(BUSINESS WIRE)--Matador Resources Company (NYSE: MTDR) (“Matador” or the “Company”) announced today two of its catalysts for this year. First, a wholly-owned subsidiary of Matador has entered into a definitive agreement to acquire Paloma Permian LLC (“Paloma”), a portfolio company of EnCap Investments L.P. (“EnCap”), including certain proved undeveloped acreage and oil and natural gas producing properties located in Southeast New Mexico (the “Paloma Acquisition”). Subject to customary.
A drone view of a pump jack and drilling rig south of Midland, Texas, U.S. June 11, 2025. REUTERS/Eli Hartman/File Photo Purchase Licensing Rights, opens new tab
CompaniesJuly 23 (Reuters) - Matador Resources (MTDR.N), opens new tab said on Thursday it would buy privately held Paloma Permian from EnCap Investments for about $1.28 billion, adding high-quality drilling assets in the oil-rich Delaware Basin.
U.S. shale producers are prioritizing acquisitions that add premium drilling inventory over rapid production growth to maintain capital discipline, allowing them to sustain output and shareholder returns for longer.
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The deal gives Matador access to 16,235 net undeveloped acres in Eddy and Lea counties in New Mexico, along with properties producing about 11,100 barrels of oil equivalent (BOE) per day, around 57% of which is oil.
The company said the acquisition would add 55 million BOE of proved reserves and more than 156 net drilling locations, primarily in the Bone Spring and Wolfcamp formations. The transaction is expected to close in the fourth quarter.
Shares of Matador were up 1% in premarket trading.
Separately, the company also agreed to acquire primarily undeveloped acreage in the emerging Woodford play from another EnCap-backed company, Ridge Runner Resources II, though it did not disclose the purchase price.
The company said the acquisition, combined with prior land purchases, would increase its Woodford position to about 50,000 contiguous net acres and lift its total Delaware Basin acreage to roughly 240,000 net acres.
Matador also reported successful results from its Rae's Creek exploratory well in the Woodford formation, with a 24-hour test rate exceeding 2,200 BOE per day, with 72% oil.
Reporting by Sumit Saha in Bengaluru; Editing by Leroy Leo and Sriraj Kalluvila
Our Standards: The Thomson Reuters Trust Principles., opens new tab
DALLAS--(BUSINESS WIRE)--Matador Resources Company (NYSE: MTDR) (“Matador”) today announced that its Board of Directors declared a quarterly cash dividend of $0.375 per share of common stock payable on September 8, 2026 to shareholders of record as of August 10, 2026. About Matador Resources Company Matador 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 natura.
Bank of New York Mellon Corp raised its position in Matador Resources Company (NYSE:MTDR – Free Report) by 2.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,186,046 shares of the energy company’s stock after purchasing an additional 26,205 shares during the period. Bank of New York Mellon Corp owned about 0.95% of Matador Resources worth $74,934,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of MTDR. V Square Quantitative Management LLC purchased a new stake in Matador Resources in the 1st quarter worth approximately $27,000. Kestra Investment Management LLC raised its holdings in Matador Resources by 225.2% in the 2nd quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock valued at $25,000 after acquiring an additional 358 shares during the last quarter. Center for Financial Planning Inc. purchased a new position in shares of Matador Resources during the 1st quarter worth $41,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Matador Resources during the 3rd quarter worth $35,000. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of Matador Resources by 361.3% during the first quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company’s stock worth $45,000 after purchasing an additional 690 shares during the last quarter. 91.98% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Matador Resources In other news, COO Glenn W. Stetson purchased 500 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was acquired at an average cost of $53.41 per share, with a total value of $26,705.00. Following the acquisition, the chief operating officer owned 95,470 shares in the company, valued at approximately $5,099,052.70. This trade represents a 0.53% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Joseph Wm Foran acquired 4,675 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was purchased at an average price of $52.36 per share, for a total transaction of $244,783.00. Following the acquisition, the chief executive officer directly owned 6,997 shares in the company, valued at $366,362.92. This represents a 201.34% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have bought 11,907 shares of company stock valued at $635,712. Corporate insiders own 5.90% of the company’s stock.
Analyst Upgrades and Downgrades Several equities analysts recently commented on the company. Citigroup dropped their target price on Matador Resources from $72.00 to $68.00 and set a “buy” rating for the company in a research note on Monday. Mizuho lifted their price target on Matador Resources from $74.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. KeyCorp lifted their price target on Matador Resources from $61.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, April 2nd. Roth Capital raised shares of Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Monday, June 22nd. Finally, UBS Group cut their price objective on shares of Matador Resources from $62.00 to $56.00 and set a “neutral” rating on the stock in a report on Tuesday. Eleven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Matador Resources currently has an average rating of “Moderate Buy” and a consensus price target of $64.08.
View Our Latest Analysis on MTDR
Matador Resources Price Performance MTDR stock opened at $54.06 on Wednesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.70 and a current ratio of 0.73. Matador Resources Company has a 1 year low of $37.14 and a 1 year high of $66.84. The firm has a market cap of $6.71 billion, a P/E ratio of 13.90 and a beta of 0.74. The stock has a 50-day simple moving average of $53.46 and a 200-day simple moving average of $53.07.
Matador Resources (NYSE:MTDR – Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.24 by $0.29. Matador Resources had a return on equity of 11.20% and a net margin of 14.41%.The firm had revenue of $941.60 million for the quarter, compared to analyst estimates of $871.57 million. During the same period in the previous year, the company posted $1.99 EPS. Matador Resources’s revenue for the quarter was down 33.8% on a year-over-year basis. On average, equities analysts predict that Matador Resources Company will post 6.99 earnings per share for the current fiscal year.
Matador Resources Company Profile (Free Report)
Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.
Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.
Read More Five stocks we like better than Matador Resources Confidence Is Back, But Earnings Show the Consumer Is Being Picky AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off 3M’s Redemption Arc: Can Q2 Earnings Change the Narrative? 3 Photonics Companies Making Quantum Tech Possible Want to see what other hedge funds are holding MTDR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Matador Resources Company (NYSE:MTDR – Free Report).
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Bessemer Group Inc. grew its position in shares of Matador Resources Company (NYSE:MTDR – Free Report) by 11.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 435,426 shares of the energy company’s stock after purchasing an additional 44,689 shares during the period. Bessemer Group Inc. owned approximately 0.35% of Matador Resources worth $27,510,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. V Square Quantitative Management LLC acquired a new stake in shares of Matador Resources in the first quarter valued at $27,000. Kestra Investment Management LLC lifted its stake in Matador Resources by 225.2% during the 2nd quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock worth $25,000 after acquiring an additional 358 shares in the last quarter. Center for Financial Planning Inc. acquired a new position in Matador Resources during the 1st quarter worth about $41,000. Measured Wealth Private Client Group LLC purchased a new position in Matador Resources during the 3rd quarter valued at about $35,000. Finally, Geneos Wealth Management Inc. boosted its holdings in Matador Resources by 361.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company’s stock valued at $45,000 after acquiring an additional 690 shares during the period. 91.98% of the stock is currently owned by hedge funds and other institutional investors.
Matador Resources Price Performance Shares of NYSE MTDR opened at $53.81 on Friday. The stock’s 50-day moving average is $53.56 and its two-hundred day moving average is $52.83. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.73 and a quick ratio of 0.70. Matador Resources Company has a 1-year low of $37.14 and a 1-year high of $66.84. The company has a market cap of $6.68 billion, a price-to-earnings ratio of 13.83 and a beta of 0.74.
Matador Resources (NYSE:MTDR – Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.29. The business had revenue of $941.60 million during the quarter, compared to analysts’ expectations of $871.57 million. Matador Resources had a return on equity of 11.20% and a net margin of 14.41%.The business’s quarterly revenue was down 33.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.99 EPS. Analysts forecast that Matador Resources Company will post 6.99 EPS for the current fiscal year.
Matador Resources Dividend Announcement The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 8th were paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Friday, May 8th. Matador Resources’s dividend payout ratio is presently 38.56%.
Analyst Ratings Changes MTDR has been the subject of several research reports. Morgan Stanley dropped their target price on Matador Resources from $75.00 to $66.00 and set an “equal weight” rating for the company in a research report on Monday, June 29th. Zacks Research lowered shares of Matador Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Weiss Ratings cut shares of Matador Resources from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 12th. Mizuho increased their target price on shares of Matador Resources from $74.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Finally, Wells Fargo & Company raised their price target on shares of Matador Resources from $54.00 to $63.00 and gave the company an “equal weight” rating in a research report on Thursday, April 16th. Eleven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $64.08.
View Our Latest Analysis on Matador Resources
Insider Activity at Matador Resources In other news, CEO Joseph Wm Foran purchased 2,000 shares of the stock in a transaction on Tuesday, June 9th. The stock was bought at an average price of $53.07 per share, for a total transaction of $106,140.00. Following the acquisition, the chief executive officer directly owned 11,479 shares of the company’s stock, valued at approximately $609,190.53. The trade was a 21.10% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Christopher P. Calvert acquired 1,500 shares of the company’s stock in a transaction on Friday, May 29th. The stock was purchased at an average cost of $53.24 per share, for a total transaction of $79,860.00. Following the completion of the transaction, the chief financial officer owned 41,500 shares in the company, valued at approximately $2,209,460. The trade was a 3.75% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought a total of 11,907 shares of company stock valued at $635,712 over the last 90 days. 5.90% of the stock is owned by corporate insiders.
About Matador Resources (Free Report)
Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.
Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.
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On July 13, 2026, Matador Resources Co (MTDR) shares rose 3.5% to a current price of $53.11. The stock's performance has been positive in the short term, with a
DALLAS--(BUSINESS WIRE)--Matador Resources Company (NYSE: MTDR) (“Matador” or the “Company”) today announced plans to release second quarter 2026 operational and financial results after the close of trading on Wednesday, August 5, 2026. Management will also host a live conference call on Thursday, August 6, 2026, at 10:00 a.m. Central Time to review second quarter 2026 financial results and operational highlights.
To access the live conference call by phone, you can use the following link https://register-conf.media-server.com/register/BI194b69303d544ff39708c28901d41150 and you will be provided with dial in details. To avoid delays, it is recommended that participants dial into the conference call 15 minutes ahead of the scheduled start time.
The live conference call will also be available through the Company’s website at www.matadorresources.com on the Events and Presentations page under the Investor Relations tab. The replay for the event will be available on the Company’s website at www.matadorresources.com on the Events and Presentations page under the Investor Relations tab for one year.
About Matador Resources Company
Matador 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. Its current operations are focused primarily on the oil and liquids-rich portion of the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas. Matador also operates in the Haynesville shale and Cotton Valley plays in Northwest Louisiana. Additionally, Matador conducts midstream operations in support of its exploration, development and production operations and provides natural gas processing, oil transportation services, natural gas, oil and produced water gathering services and produced water disposal services to third parties.
For more information about Matador Resources Company, visit www.matadorresources.com.
If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly report, you should consider Matador Resources (MTDR - Free Report) . This company, which is in the Zacks Oil and Gas - Exploration and Production - United States industry, shows potential for another earnings beat.
When looking at the last two reports, this independent oil and gas company has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 22.96%, on average, in the last two quarters.
For the most recent quarter, Matador was expected to post earnings of $1.24 per share, but it reported $1.53 per share instead, representing a surprise of 23.39%. For the previous quarter, the consensus estimate was $0.71 per share, while it actually produced $0.87 per share, a surprise of 22.54%.
Price and EPS Surprise
Thanks in part to this history, there has been a favorable change in earnings estimates for Matador lately. In fact, the Zacks Earnings ESP (Expected Surprise Prediction) for the stock is positive, which is a great indicator of an earnings beat, particularly when combined with its solid Zacks Rank.
Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Matador has an Earnings ESP of +7.44% at the moment, suggesting that analysts have grown bullish on its near-term earnings potential. When you combine this positive Earnings ESP with the stock's Zacks Rank #3 (Hold), it shows that another beat is possibly around the corner.
When the Earnings ESP comes up negative, investors should note that this will reduce the predictive power of the metric. But, a negative value is not indicative of a stock's earnings miss.
Many companies end up beating the consensus EPS estimate, though this is not the only reason why their shares gain. Additionally, some stocks may remain stable even if they end up missing the consensus estimate.
Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Key Takeaways MTDR's San Mateo will buy Cardinal Midstream Partners' operating subsidiaries for $752 million in cash.The deal adds a 320 MMcf/day plant, 145 miles of pipelines and nine customers to San Mateo.San Mateo's processing capacity will top 1 Bcf/day, with its gathering system exceeding 800 miles. Matador Resources (MTDR - Free Report) recently announced that its majority-owned midstream joint venture, San Mateo Midstream, LLC, has signed an agreement to purchase the operating subsidiaries of Cardinal Midstream Partners for a total consideration of $752 million in cash. Cardinal Midstream Partners is a portfolio company of EnCap Flatrock Midstream.
Acquisition to Expand Midstream InfrastructureThe assets included in the deal consist of a processing plant with an inlet capacity of up to 320 million cubic feet (MMcf) per day of natural gas in Loving County, TX, along with 145 miles of high-pressure and low-pressure natural gas gathering pipelines in West Texas and southern Eddy County. The Cardinal plant complex spans approximately 75 acres and has excess natural gas and natural gas liquids takeaway connections to support future processing capacity expansion.
These midstream assets complement and expand the San Mateo unit’s existing midstream network and enable it to transport natural gas across the northern Delaware Basin in southeast New Mexico and West Texas more efficiently. Moreover, the transaction will add Cardinal’s nine natural gas gathering and processing customers to San Mateo’s customer base, thereby increasing throughput volumes and boosting revenues from third-party customers.
After the closing of this acquisition, San Mateo's total natural gas processing capacity will exceed 1 billion cubic feet per day, while its gathering system will expand to more than 800 miles. The acquisition is expected to be closed by July 31, 2026.
Funding Structure for the AcquisitionMatador has highlighted that the deal is not expected to materially impact its cash position. The company intends to fund any cash contribution related to the deal using distributions from San Mateo and may also use proceeds from a drop-down to San Mateo or from the sale of a part of wholly-owned midstream assets.
San Mateo plans to fund the acquisition partly using a new term loan of up to $650 million under its existing credit facility. For the remaining part, the joint venture will use a combination of its existing cash reserves, borrowings under its existing credit facility and capital contributions from its partners. San Mateo is a midstream joint venture owned by Matador Resources and Five Point Infrastructure.
Acquisition Expected to Drive Operational & Financial BenefitsThe acquisition is expected to provide several operational and financial benefits for San Mateo. The combined natural gas gathering and processing network will enhance the flow of natural gas and reduce the risk of bottlenecks. Moreover, these assets are expected to be financially accretive to San Mateo in terms of adjusted EBITDA and cash flows almost immediately. The company has also highlighted that the Cardinal assets are expected to generate up to $110 million in annual adjusted EBITDA by 2028, provided the Cardinal plant complex is fully utilized.
Strengthening the Delaware Basin Midstream FootprintThe acquisition is expected to significantly strengthen Matador’s midstream footprint. For San Mateo, the transaction will expand gathering and processing infrastructure in the Delaware Basin, a productive oil and gas basin in the United States. The increased processing capacity, pipeline network and new third-party customer relationships should help the company support higher throughput volumes and increase its midstream revenues over the long-term.
MTDR’s Zacks Rank and Key PicksMTDR currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the energy sector are Valero Energy (VLO - Free Report) , W&T Offshore (WTI - Free Report) and FuelCell Energy (FCEL - Free Report) . While Valero Energy currently sports a Zacks Rank #1 (Strong Buy), W&T Offshore and FuelCell Energy carry a Zacks Rank #2 (Buy) each at present. You can see the complete list of today’s Zacks Rank #1 stocks here.
Valero Energy is a leading refining player with a robust network of 14 refineries located across the United States, Canada and Peru. The company has a combined high-complexity throughput capacity of 3 million barrels per day, which distinguishes it among other independent refiners. Valero’s refineries have a combined Nelson Complexity Index of 11.5, which implies that they can process a wide variety of feedstock and convert it into higher-value products and shift product yields according to market conditions.
W&T Offshore benefits from its prolific Gulf of America assets, which offer low-decline rates, strong permeability and significant untapped reserves. The company’s properties include around 457,700 gross acres on the conventional Shelf, 5,600 gross acres in Alabama State Waters and about 141,900 gross acres in the Deepwater region. Its GoA discoveries should boost future production prospects and are expected to enhance revenues.
FuelCell Energy is a clean energy company that offers scalable, reliable, low-carbon power solutions. It produces power using flexible fuel sources such as biogas, natural gas and hydrogen. The company’s proprietary molten carbonate fuel cell systems generate electricity through an electrochemical process instead of burning fuel, reducing carbon emissions and minimizing the environmental impact of power generation. FCEL is anticipated to play a crucial role in the energy transition by enabling industries and communities to shift to low-carbon alternatives.
A drone view of a pump jack and drilling rig, U.S. June 11, 2025. REUTERS/Eli Hartman/File Photo Purchase Licensing Rights, opens new tab
CompaniesJune 29 (Reuters) - Oil and gas company Matador Resources (MTDR.N), opens new tab said on Monday its midstream joint venture San Mateo Midstream has agreed to acquire the operating subsidiaries of Cardinal Midstream Partners for $752 million in cash.
The deal underscores continued consolidation in the U.S. energy sector as producers and midstream operators build scale and expand infrastructure to support rising shale output and growing liquefied natural gas export demand.
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Cardinal's assets include a cryogenic natural gas processing complex in Loving County, Texas, with a designed inlet capacity of about 320 million cubic feet of natural gas per day and roughly 145 miles of natural gas gathering pipelines across West Texas and southern Eddy County, New Mexico.
The assets are located in the Delaware Basin, a key U.S. shale producing region.
Matador acquired 5,154 net undeveloped acres in the core of the Delaware Basin in southeast New Mexico for about $1.1 billion in May, strengthening its position in the region and in the prolific shale play.
The latest transaction, which is expected to close on or before July 31, is expected to increase San Mateo's processing capacity to more than 1 billion cubic feet per day and expand its gathering system to over 800 miles of pipeline, while also adding new third-party customers.
San Mateo Midstream, Matador's 51%-owned midstream joint venture with private equity firm Five Point Infrastructure, expects to finance the acquisition, in part, through a new term loan of up to $650 million under its existing credit facility.
Reporting by Varun Sahay in Bengaluru; Editing by Shailesh Kuber
Our Standards: The Thomson Reuters Trust Principles., opens new tab
DALLAS--(BUSINESS WIRE)--Matador Resources Company (NYSE: MTDR) (“Matador” or the “Company”) today announced that San Mateo Midstream, LLC (“San Mateo”), Matador’s 51%-owned midstream joint venture with Five Point Infrastructure (“Five Point”), has entered into a definitive agreement to acquire the operating subsidiaries of Cardinal Midstream Partners, LLC (“Cardinal”), a portfolio company of EnCap Flatrock Midstream, for total cash consideration of $752 million. The transaction is expected to close on or before July 31, 2026, subject to customary closing conditions (the “Cardinal Acquisition”). Matador anticipates the Cardinal Acquisition to be cash neutral for Matador as it expects to use distributions from San Mateo and/or proceeds from the potential drop-down to San Mateo or sale of a portion of Matador’s wholly-owned midstream assets to fund any required cash contributions to San Mateo related to the acquisition.
Cardinal Acquisition Highlights
Complementary Midstream Assets. Cardinal’s midstream assets are complementary to San Mateo’s existing natural gas gathering and processing system and provide San Mateo the ability to move natural gas more easily throughout the northern Delaware Basin in southeast New Mexico and West Texas (see map, Exhibit A). Cardinal’s assets consist of (i) a cryogenic natural gas processing plant complex in Loving County, Texas with a designed inlet capacity of approximately 320 million cubic feet of natural gas per day, and (ii) approximately 145 miles of low-pressure and high-pressure natural gas gathering pipelines located in West Texas and southern Eddy County, New Mexico. The Cardinal plant complex sits on approximately 75 acres with two residue natural gas takeaway connections and four natural gas liquids takeaway connections, providing San Mateo the ability to expand processing capacity in the future. Third-Party Customer Relationships and Volumes. Nine of Cardinal’s natural gas gathering and processing customers would be new natural gas customers for San Mateo. The mix of Cardinal’s major, mid-cap and private Delaware Basin producers is expected to directly increase San Mateo’s customer base, volume throughput and revenue generation from third-party customers. Expanded Scale. The Cardinal Acquisition is expected to increase San Mateo’s designed natural gas processing capacity to more than one billion cubic feet per day and expand San Mateo’s gathering systems to over 800 miles of pipeline. Enhanced Flow Assurance for Matador and Other Customers. The combined natural gas system is expected to provide immediate synergies for San Mateo’s gas gathering and processing system. These expected synergies include the ability to flow volumes between Cardinal’s natural gas processing plant in Loving County, Texas and San Mateo’s existing Marlan Processing Plant and Black River Processing Plant, both located in Eddy County, New Mexico. Once acquired, the Cardinal plant complex in Texas as shown on the map should provide additional options and coverage to producers in the area. Accretive to Adjusted EBITDA and Cash Flows. San Mateo expects the Cardinal assets to be immediately accretive to both San Mateo’s Adjusted EBITDA and cash flows. Adjusted EBITDA from the Cardinal assets is expected to increase to up to $110 million on an annualized basis by 2028 when the Cardinal plant complex is anticipated to be completely full. Financing Highlights
San Mateo expects to finance the Cardinal Acquisition, in part, through a new term loan of up to $650 million under its existing credit facility. This new term loan will be led by PNC Bank, the lead bank under Matador’s reserves-based credit facility, and Truist Bank, the lead bank under San Mateo’s existing credit facility. The new term loan will become due and payable 364 days following the closing of the Cardinal Acquisition. The remainder of the purchase price is expected to be funded through a combination of cash on hand, borrowings under San Mateo’s existing credit facility and capital contributions from its partners. Matador expects to use distributions from San Mateo and/or proceeds from the potential drop-down to San Mateo or sale of a portion of Matador’s wholly-owned midstream assets to fund any cash contribution.
Management Comments
Joseph Wm. Foran, Matador’s Founder, Chairman and CEO and San Mateo’s Founder, commented, “We are very pleased to announce San Mateo’s acquisition of Cardinal Midstream. We believe the acquisition—which is being funded by midstream—is the next step in the growth of San Mateo and a continuation of the strategic vision Matador and Five Point share for our joint midstream business to be a leading midstream company in the Delaware Basin, providing flow assurance to Matador and third-party customers. This transaction was built on relationships. Matador’s relationship with the EnCap Investments L.P. (“EnCap”) team and its affiliated entities goes back decades. We look forward to welcoming and building relationships with Cardinal’s customers and working with the talented Cardinal operating team.
“We believe this acquisition will provide substantial benefits to Matador, Cardinal and San Mateo and their respective stakeholders. Financially, this acquisition is expected to add immediate third-party volumes and cash flows, enhancing both San Mateo’s and Cardinal’s expected outlook for 2026 and beyond. This increased scale further improves San Mateo’s positioning for potential strategic alternatives at the corporate level. Strategically, the Cardinal system effectively “completes the circle” for San Mateo infrastructure in the Delaware Basin. Connecting Cardinal’s natural gas gathering and processing assets to San Mateo’s existing natural gas system is expected to give San Mateo the ability to move natural gas throughout the northern Delaware Basin—north to south or south to north—creating better flow assurance and system flexibility that we believe few midstream providers can match.
“The Cardinal Acquisition is expected to not only provide strategically increased flow assurance to Cardinal’s customers but also to provide natural gas processing for Matador’s development of its recently acquired federal lease acreage in Lea County, New Mexico. Additionally, because Cardinal’s system extends near Matador’s Wolf asset area in Loving County, Texas, San Mateo will be well positioned to provide flow assurance for volumes from this asset area too.
“It is also important to note that “midstream money is being used to fund midstream acquisitions” as any capital contributions from Matador to San Mateo are expected to be paid with either cash distributions from San Mateo and/or proceeds received from the potential drop-down to San Mateo or sale of Matador’s wholly-owned midstream assets. These wholly-owned midstream assets continue to provide critical flow assurance for Matador’s natural gas, oil and water in Matador’s Ameredev area and other locations in Lea County, New Mexico.
“We also express our appreciation to PNC Bank and Truist Bank for their continued support and to each of San Mateo’s lenders that we anticipate participating in the new term loan. This new term loan is expected to effectively provide a bridge to San Mateo’s potential future strategic transactions.
“As we have noted before, San Mateo began as a startup midstream company in 2017 and has grown into one of the premier midstream businesses in the northern Delaware Basin and one of the only midstream companies that provides integrated services for all three streams—natural gas, oil and water. We believe the addition of Cardinal will position San Mateo for its next chapter of growth.”
Advisors
Baker Botts L.L.P., led by Preston Bernhisel, and O’Melveny & Myers LLP, led by Jason Schumacher, acted as counsel to San Mateo on the Cardinal Acquisition. Willkie Farr & Gallagher LLP, led by Nathan Meredith, acted as counsel to Cardinal on the acquisition.
About Matador Resources Company
Matador 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. Its current operations are focused primarily on the oil and liquids-rich portion of the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas. Matador also operates in the Haynesville shale and Cotton Valley plays in Northwest Louisiana. Additionally, Matador conducts midstream operations in support of its exploration, development and production operations and provides natural gas processing, oil transportation services, natural gas, oil and produced water gathering services and produced water disposal services to third parties.
For more information, visit Matador Resources Company at www.matadorresources.com.
About San Mateo Midstream, LLC
San Mateo is a midstream joint venture owned 51% by Matador and 49% by an affiliate of Five Point Infrastructure LLC. San Mateo provides natural gas gathering, treating and processing, produced water gathering and disposal, and oil gathering and transportation services to Matador and third-party customers in the Delaware Basin in Southeast New Mexico and West Texas.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. “Forward-looking statements” are statements related to future, not past, events. Forward-looking statements are based on current expectations and include any statement that does not directly relate to a current or historical fact. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “could,” “believe,” “would,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “should,” “continue,” “plan,” “predict,” “potential,” “project,” “hypothetical,” “forecasted” and similar expressions that are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Such forward-looking statements include, but are not limited to, statements regarding the anticipated timing and closing of the Cardinal Acquisition; the expected benefits, opportunities and results of the Cardinal Acquisition, including the expected impact on cash flows and Adjusted EBITDA, third-party volumes, system connectivity, flow assurance, expansion opportunities and other anticipated impacts of the Cardinal Acquisition; the anticipated financing of the Cardinal Acquisition, including any bridge term loan or other financing transaction, or the required capital contributions or sources thereof, including any potential drop-down to San Mateo or sale of Matador’s wholly-owned midstream assets; other aspects of the Cardinal Acquisition, including guidance, projected or forecasted financial and operating results, future liquidity and the payment of distributions; and San Mateo’s future growth and potential strategic alternatives. Actual results and future events could differ materially from those anticipated in such statements, and such forward-looking statements may not prove to be accurate. These forward-looking statements involve certain risks and uncertainties, including, but not limited to, the satisfaction of closing conditions for the Cardinal Acquisition; the possibility that the Cardinal Acquisition may not close on the anticipated timeline or at all; the ability of San Mateo to integrate the Cardinal assets and realize the anticipated benefits of the Cardinal Acquisition; the availability and terms of financing; commodity price volatility; operational risks; regulatory changes; risks related to obtaining the requisite regulatory approvals for the Cardinal Acquisition; disruption from the Cardinal Acquisition making it more difficult to maintain business and operational relationships; significant transaction costs associated with the Cardinal Acquisition; the risk of litigation and/or regulatory actions related to the Cardinal Acquisition, as well as the other factors that could cause actual results to differ materially from those anticipated or implied in the forward-looking statements. For further discussions of risks and uncertainties, you should refer to Matador’s filings with the Securities and Exchange Commission (“SEC”), including the “Risk Factors” section of Matador’s most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. Matador undertakes no obligation to update these forward-looking statements to reflect events or circumstances occurring after the date of this press release, except as required by law, including the securities laws of the United States and the rules and regulations of the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.
(1) Adjusted EBITDA is a non-GAAP financial measure. Matador and San Mateo define Adjusted EBITDA as earnings before interest expense, income taxes, depletion, depreciation and amortization, accretion of asset retirement obligations, unrealized derivative gains and losses, non-recurring transaction costs for certain acquisitions, non-cash stock-based compensation expense, loss on debt extinguishment, net gain or loss on asset sales and impairments and certain other non-cash items. The most comparable GAAP measures to Adjusted EBITDA are net income or net cash provided by operating activities. Estimated Adjusted EBITDA attributable to the Cardinal assets is presented on an asset-level basis and reflects earnings before interest expense, income taxes, depreciation, depletion, amortization and certain other non-cash or non-recurring items. Matador and San Mateo are unable to provide a reconciliation of this forward-looking non-GAAP financial measure to the most directly comparable GAAP measure without unreasonable effort due to the inherent difficulty in forecasting certain reconciling items.
Key Takeaways Matador Resources' total production of 207,594 BOE/D increased 4.5% y/y, beating midpoint guidance by 3%.MTDR reported lower gas realizations as the Waha price collapse led to voluntary production shut-ins.Matador Resources raised 2026 production guidance while keeping capital spending outlook unchanged. Matador Resources Company (MTDR - Free Report) reported first-quarter 2026 adjusted earnings of $1.53 per share, down 23.1% from $1.99 a year ago. The bottom line beat the Zacks Consensus Estimate of $1.24 by 23.4%.
Total revenues were $671.6 million, down 33.8% from $1,014 million in the year-ago quarter. The top line missed the Zacks Consensus Estimate of $883.3 million by 24.0%.
Better-than-expected quarterly earnings were driven by increased total production volumes and slightly lower operating expenses. The positives were partially offset by lower natural gas price realizations.
MTDR’s Upstream Business in Q1Matador Resources is primarily involved in oil and gas exploration and production activities in the United States. The company’s overall financial performance is heavily dependent on the oil and gas pricing environment. Most of MTDR’s production comprises oil (58% of total first-quarter production), making oil prices a major factor in determining the company’s earnings.
The average oil production was 120,277 barrels per day (Bbl/D), reflecting a 4.6% increase from the prior-year figure of 115,030. The figure also beat our estimate of 116,217.3 Bbl/D. Natural gas production was recorded at 523.9 million cubic feet per day (MMcf/D), up from 501.6 MMcf/D recorded a year ago. The reported figure came in higher than our estimate of 519.7 MMcf/D.
Total oil equivalent production in the first quarter was 207,594 barrels of oil equivalent (BOE/D), reflecting a 4.5% increase from the year-ago quarter’s figure of 198,631 BOE/D. The figure also exceeded our projection of 202,834.8 BOE/D. The company’s production volumes exceeded the midpoint of the guidance range by 3%, primarily due to the sustained outperformance of Matador Resources’ producing wells and those brought into production in the first quarter of 2026.
Matador Resources turned 36 net operated wells to production in the quarter, including a large portion in late February and March.
Matador Resources Faces Waha Gas Price CollapseA key pressure point in the quarter was natural gas pricing. Matador’s average realized natural gas price, excluding hedging, was 64 cents per thousand cubic feet (Mcf), sharply down from $3.56 per Mcf in the first quarter of 2025. The figure came in lower than our estimate of $2.74 per Mcf. The natural gas price decline was driven by a collapse in Waha prices, which forced roughly 3,000 BOE/D in voluntary shut-ins. Winter Storm Fern forced additional well shut-ins due to freezing conditions.
The average sales price for oil (excluding realized derivatives) was $72.83 per barrel, up from $72.38 a year ago. The commodity price was higher than our projection of $71.74 per barrel.
MTDR’s Operating ExpensesMTDR’s midstream operating expenses increased to $2.96 per BOE from the year-earlier level of $2.90.
Lease operating costs decreased to $5.76 per BOE from $5.84 a year ago. Our projection for the metric was $5.25 per BOE. General and administrative expenses increased to $2.09 per BOE from the year-earlier level of $1.89. Our estimate for the same was $1.89.
Transportation and processing costs declined to 79 cents per BOE from $1.12 per BOE in the year-ago quarter. Taxes other than income also declined to $3.79 per BOE from $4.31 recorded in the year-ago quarter.
Overall, total operating expenses per BOE were $31.06, lower than the prior-year figure of $31.83 and above our estimate of $29.79 per BOE.
Balance Sheet & Capital Spending of MTDRAs of March 31, 2026, MTDR had cash and restricted cash of $92.5 million and long-term debt of $4,782.4 million.
Matador Resources’ first-quarter total capital expenditures were $428.1 million, which is within the company’s guidance range of $415 million to $435 million. Meanwhile, the company spent $377.4 million on well drilling, completion and equipment.
MTDR 2026 Guidance RisesMatador Resources increased its full-year 2026 production guidance while keeping its capital budget unchanged. The company now expects full-year 2026 oil production to be in the range of 123,000-125,000 Bbl/D and total production to be between 210,500 BOE/D and 216,000 BOE/D. Total capital expenditures are unchanged at $1.45 - $1.55 billion.
MTDR’s Zacks Rank & Other Key PicksMatador Resources currently sports a Zacks Rank #1 (Strong Buy).
Some other top-ranked stocks from the Energy sector are Chevron Corporation (CVX - Free Report) , BP plc (BP - Free Report) and Eni S.p.A. (E - Free Report) . CVX, BP and E each currently sport a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Chevron reported first-quarter 2026 adjusted earnings per share of $1.41, which beat the Zacks Consensus Estimate of 92 cents.
As of March 31, 2026, CVX reported $5.3 million in cash and cash equivalents. At the quarter's end, its total debt amounted to $45.4 billion.
BP reported first-quarter 2026 earnings of $1.24 per American Depositary Share, which beat the Zacks Consensus Estimate of 91 cents.
As of March 31, 2026, BP reported $35.7 million in cash and cash equivalents. At the quarter's end, its long-term debt totaled $25.3 billion.
Eni reported first-quarter 2026 adjusted earnings from continuing operations of 81 cents per American Depository Receipt, which missed the Zacks Consensus Estimate of $1.13.
As of March 31, 2026, E had a long-term debt of €21.7 billion, and cash and cash equivalents of €8.3 billion.
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For the quarter ended March 2026, Matador Resources (MTDR - Free Report) reported revenue of $671.64 million, down 33.8% over the same period last year. EPS came in at $1.53, compared to $1.99 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $883.27 million, representing a surprise of -23.96%. The company delivered an EPS surprise of +23.06%, with the consensus EPS estimate being $1.24.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Matador performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Average Daily Production Volumes - Total oil equivalent: 207594 millions of barrels of oil equivalent per day compared to the 204451.5 millions of barrels of oil equivalent per day average estimate based on eight analysts.Average Daily Production Volumes - Oil: 120,277.00 BBL/D compared to the 117,463.80 BBL/D average estimate based on eight analysts.Average Daily Production Volumes - Natural gas: 523.9 millions of cubic feet per day versus 521.96 millions of cubic feet per day estimated by eight analysts on average.Average Sales Prices - Natural gas, with realized derivatives: $1.44 versus $2.15 estimated by six analysts on average.Average Sales Prices - Oil, with realized derivatives: $68.04 versus the six-analyst average estimate of $67.16.Average Sales Prices - Oil without realized derivatives: $72.83 compared to the $71.09 average estimate based on five analysts.Average Sales Prices - Natural gas without realized derivatives: $0.64 versus the five-analyst average estimate of $1.52.Revenues- Third-party midstream services revenues: $42.09 million compared to the $40.94 million average estimate based on five analysts. The reported number represents a change of +25.7% year over year.Revenues- Oil and natural gas revenues: $818.73 million versus the five-analyst average estimate of $790.46 million. The reported number represents a year-over-year change of -10%.Revenues- Oil: $788.35 million versus the four-analyst average estimate of $695.11 million. The reported number represents a year-over-year change of +5.2%.Revenues- Natural gas: $30.38 million versus the four-analyst average estimate of $78.12 million. The reported number represents a year-over-year change of -81.1%.Revenues- Sales of purchased natural gas: $80.78 million compared to the $63 million average estimate based on three analysts. The reported number represents a change of +28.7% year over year.View all Key Company Metrics for Matador here>>>
Shares of Matador have returned -6.6% over the past month versus the Zacks S&P 500 composite's +8.8% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.
Building a successful investment portfolio takes skill and hard work, no matter if you're a growth, value, income, or momentum-focused investor.
How do you find the right combination of stocks that will generate returns that could fund your retirement, or your kids' college tuition, or your short- and long-term savings goals?
Enter the Zacks Rank.
What is the Zacks Rank?A unique, proprietary stock-rating model, the Zacks Rank uses earnings estimate revisions, or changes to a company's earnings expectations, to help investors create a winning portfolio.
There are four main factors behind the Zacks Rank: Agreement, Magnitude, Upside, and Surprise.
Agreement is the extent to which all brokerage analysts are revising their earnings estimates in the same direction. The greater the percentage of analysts revising their estimates higher, the better chance the stock will outperform.
Magnitude is the size of the recent change in the consensus estimate for the current and next fiscal years.
Upside is the difference between the most accurate estimate, which is calculated by Zacks, and the consensus estimate.
Surprise is made up of a company's last few quarters' earnings per share surprises; companies with a positive earnings surprise are more likely to beat expectations in the future.
Each factor is given a raw score, which is recalculated every night and compiled into the Zacks Rank. Utilizing this data, stocks are put into five different groups: Strong Buy, Buy, Hold, Sell, and Strong Sell.
The Power of Institutional InvestorsThe Zacks Rank also allows individual investors, or retail investors, to benefit from the power of institutional investors.
These professionals manage the trillions of dollars invested in hedge funds, mutual funds, and investment banks, and studies have shown that they can and do move the market because of the large amounts of money they invest with. Thus, the market tends to move in the same direction as institutional investors.
In order to figure out the fair value of a company and its shares, these investors will build valuation models focused on earnings and earnings expectations. Because if you raise estimates for the bottom line, it creates a higher fair value for a company.
Institutional investors will use these changes to help in their decision-making, typically buying stocks with rising estimates and selling those with falling estimates. Higher earnings expectations can translate into a rise in stock price and bigger gains for the investor.
Retail investors who get in at the first sign of upward revisions have a distinct advantage over larger investors since it can often take weeks, if not months, for an institutional investor to build a position. They'll also benefit from the expected institutional buying that could follow.
Not only can the Zacks Rank help you take advantage of trends in earnings estimate revisions, but it can also provide a way to get into stocks that are highly sought after by professionals.
How to Invest with the Zacks RankThe Zacks Rank is known for transforming investment portfolios. In fact, a portfolio of Zacks Rank #1 (Strong Buy) stocks has beaten the market in 26 of the last 32 years, with an average annual return of +23.7%.
Moreover, stocks with a new #1 (Strong Buy) ranking have some of the biggest profit potential, while those that fell to a #4 (Sell) or #5 (Strong Sell) have some of the worst.
Let's take a look at Matador Resources (MTDR - Free Report) , which was added to the Zacks Rank #1 list on April 9, 2026. Headquartered in Dallas, TX, Matador Resources Company is among the leading oil and gas explorer in the shale and unconventional resources in the United States. The company’s upstream operations are primarily concentrated in the in the Delaware and Midland basins — two sub-basins of Permian — and South Texas’ Eagle Ford shale. The company, founded in 1983, also operates in the Cotton Valley and Haynesville shale resources.
Eight analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $2.59 to $7.42 per share. MTDR boasts an average earnings surprise of 19%.
Analysts are expecting earnings to grow 305.5% for the current fiscal year, with revenue forecasted to rise 10.7%.
Even more impressive, MTDR has gained in value over the past four weeks, up 8.5% compared to the S&P 500's gain of 5.6%.
Bottom LineWith a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, Matador Resources should be on investors' shortlist.
If you want even more information on the Zacks Ranks, or one of our many other investing strategies, check out the Zacks Education home page.
Discover Today's Top StocksOur private Zacks #1 Rank List, based on our quantitative Zacks Rank stock-rating system, has more than doubled the S&P 500 since 1988. Applying the Zacks Rank in your own trading can boost your investing returns on your very next trade. See Today's Zacks #1 Rank List >>
DALLAS--(BUSINESS WIRE)--Matador Resources Company (NYSE: MTDR) (“Matador” or the “Company”) announces the successful bolt-on acquisition of 5,154 net undeveloped acres in the core of the Delaware Basin as part of the Bureau of Land Management (BLM) Oil and Gas Lease Sale this week. Joseph Wm. Foran, Matador's Founder, Chairman and CEO, commented, “Matador is pleased to announce a $1.1 billion expansion of its premier Delaware Basin asset base in Southeast New Mexico through the recent BLM Leas.
Oil and gas firm Matador Resources said on Thursday it has acquired 5,154 net undeveloped acres in the core of the Delaware Basin in southeast New Mexico for about $1.1 billion, strengthening its position in the region and the prolific shale play.
For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Matador Resources (MTDR - Free Report) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Matador Resources is a member of the Oils-Energy sector. This group includes 238 individual stocks and currently holds a Zacks Sector Rank of #1. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Matador Resources is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for MTDR's full-year earnings has moved 73.1% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, MTDR has gained about 32.2% so far this year. Meanwhile, the Oils-Energy sector has returned an average of 30.6% on a year-to-date basis. This shows that Matador Resources is outperforming its peers so far this year.
Another Oils-Energy stock, which has outperformed the sector so far this year, is Harbour Energy PLC Sponsored ADR (HBRIY - Free Report) . The stock has returned 40.4% year-to-date.
The consensus estimate for Harbour Energy PLC Sponsored ADR's current year EPS has increased 138.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Matador Resources is a member of the Oil and Gas - Exploration and Production - United States industry, which includes 34 individual companies and currently sits at #22 in the Zacks Industry Rank. Stocks in this group have gained about 27.8% so far this year, so MTDR is performing better this group in terms of year-to-date returns.
In contrast, Harbour Energy PLC Sponsored ADR falls under the Oil and Gas - Exploration and Production - International industry. Currently, this industry has 6 stocks and is ranked #192. Since the beginning of the year, the industry has moved +79.9%.
Investors with an interest in Oils-Energy stocks should continue to track Matador Resources and Harbour Energy PLC Sponsored ADR. These stocks will be looking to continue their solid performance.
Key Takeaways SM Energy expanded across four shale basins after closing the all-stock Civitas merger in January 2026.SM raised expected merger synergies to $375M by 2026-end from the original $200M target.SM expects higher oil prices and merger synergies to drive free cash flow and buybacks. SM Energy (SM - Free Report) is an independent oil and gas company with its operations focused on premier shale basins in the United States. The company’s all-stock merger with Civitas Resources, which closed on Jan. 30, 2026, expanded its scale and positioned it as a leading operator of a diversified asset base across four premier shale basins. It owns 237,000 net acres in the Permian, 303,000 net acres in the DJ Basin, 94,000 net acres in South Texas and 62,000 net acres in the Uinta Basin, providing exposure to high-margin basins with an oil-weighted production.
Management mentioned in its recent earnings call that following the closure of the Civitas merger, the company now boasts a high-quality, multi-year inventory of high-return drilling opportunities, which is expected to support future production growth. Additionally, the company highlighted that the Civitas merger synergies are exceeding expectations. SM has already actioned approximately $300 million of merger synergies and revised its annual synergy target to $375 million by 2026-end, almost doubling the original estimate of $200 million.
The Civitas merger has also strengthened SM’s production and cash flow outlook, particularly amid the current favorable commodity pricing environment. Per the data from oilprice.com, the West Texas Intermediate crude price is currently trading above $95 per barrel, which is expected to boost SM’s earnings and cash flows. The company highlighted that, among other factors, stronger commodity prices and rising merger synergies should support higher free cash flow generation and enhanced shareholder returns through increased share repurchases.
Upstream Players Benefit From High Oil PricesMatador Resources (MTDR - Free Report) is primarily involved in exploration and production activities, particularly in the prolific Delaware Basin of the United States. The company intends to grow its oil production by 3% in 2026, and its upcoming wells are expected to deliver returns of more than 50%, with production potential exceeding one million barrels of oil equivalent each, setting it up for strong growth into 2026. Since the company’s overall production is mainly oil-weighted, MTDR is expected to significantly benefit from rising crude prices.
EOG Resources’ (EOG - Free Report) upstream production is supported by highly productive acreages in premier oil shale plays like the Permian and Eagle Ford. The company boasts numerous untapped high-quality drilling sites, which strengthen its production outlook and lower risk profile. Since the company’s production is weighted toward crude oil and condensate, EOG is anticipated to benefit from the current commodity pricing scenario.
SM's Price Performance, Valuation & EstimatesSM Energy’s shares have jumped 46% over the past year compared with the 21.3% improvement of the composite stocks belonging to the industry.
Image Source: Zacks Investment Research
From a valuation standpoint, SM trades at a trailing 12-month enterprise value to EBITDA (EV/EBITDA) of 5.95X. This is below the broader industry average of 11.84X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for SM’s 2026 earnings has been revised upward over the past seven days.
Image Source: Zacks Investment Research
SM currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Key Takeaways Matador acquired 5,154 net undeveloped acres in Southeast New Mexico for $1.1 billion.Matador acquired 5,154 net undeveloped acres in Southeast New Mexico for $1.1 billion.Matador expects to reduce acquisition-related debt using projected 2026 free cash flow of $1.2 billion. Matador Resources Company ((MTDR - Free Report) ) announced a major expansion of its Delaware Basin footprint through the acquisition of 5,154 net undeveloped acres in Southeast New Mexico at the recent Bureau of Land Management Oil and Gas Lease Sale. The $1.1 billion expansion strengthens Matador’s position in the most prolific region of the Delaware Basin. The acquisition adds more than 141 new drilling opportunities, which is expected to improve production efficiency and lower costs through longer two-mile wells, shared infrastructure, better water recycling and stronger natural gas transportation capacity.
The newly acquired acreage is strategically located adjacent to Matador’s existing operated units, enabling the company to leverage its established infrastructure. Per management, the acreage contains exposure to nine or more prospective formations and creates development opportunities such as extended-reach laterals exceeding three miles, U-turn well designs, multi-well developments and improved water recycling initiatives. The acquisition is also expected to boost throughput and revenue generation for the company’s San Mateo midstream business.
Matador will keep 87.5% of the revenues generated from oil and gas production on the acreage and has the right to develop the land for 10 years across all underground resource zones. After accounting for anticipated midstream value, the acquisition cost equates to roughly $7.3 million per drilling location.
Management proceeded with the transaction, pointing to the lucrative results of its 2018 State Line and Rodney Robinson federal lease acquisitions, which generated enough returns to fully repay the initial investments and yielded an additional $1.9 billion in profits. The deal is expected to be funded through cash on hand and Matador’s credit facility. Supported by projected 2026 adjusted free cash flow of nearly $1.2 billion, the company expects to substantially reduce acquisition-related debt by year-end 2026 and fully repay its reserve-based lending facility during the first half of 2027.
MTDR's Zacks Rank & Stocks to ConsiderMTDR currently sports a Zacks Rank #1 (Strong Buy).
Some other top-ranked stocks in the energy sector are Diamondback Energy, Inc. (FANG - Free Report) , Equinor ASA (EQNR - Free Report) and Exxon Mobil Corporation (XOM - Free Report) . FANG, EQNR and XOM sport a Zacks Rank #1 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
With West Texas Intermediate prices surpassing the $90-per-barrel mark, according to oilprice.com, the upstream portfolios of FANG, EQNR, XOM and MTDR are benefiting from a favorable pricing environment.
Diamondback Energy operates exclusively within the prolific Permian Basin and focuses on unconventional horizontal drilling across stacked geological formations such as the Wolfcamp and Spraberry. As of March 31, 2026, FANG had 890,496 net acres in the Permian Basin, including 797,074 net acres in the Midland Basin and 93,422 net acres in the Delaware Basin.
Equinor is a Norwegian multinational energy company that explores, develops and produces petroleum and natural gas. EQNR’s Norway production increased 10% to 1,525 thousand barrels of oil equivalent per day (MBoe/d) from 1,390 MBoe/d in the prior-year quarter, supported by new fields and additional wells coming online.
By leveraging advantaged assets such as the prolific Permian Basin, offshore Guyana and LNG ventures, ExxonMobil generated substantial revenues. In the first quarter of 2026, XOM’s liquids production was 3,297 thousand barrels per day (Mbpd), up from 3,139 Mbpd in the prior-year quarter, bolstered by increased output in the United States, Canada and Other Americas.
DALLAS--(BUSINESS WIRE)--Matador Resources Company (NYSE: MTDR) (“Matador” or the “Company”) will hold its 2026 Annual Meeting of Shareholders on Thursday, June 11, 2026, at 9:30 a.m. Central Time.
The Annual Meeting will be held at Hilton Dallas Lincoln Centre, 5410 LBJ Freeway, Dallas, Texas 75240. A continental breakfast will be provided beginning at 8:30 a.m. Central Time to provide shareholders with the opportunity to meet and interact with directors, management and employees before and after the formal meeting.
The Annual Meeting will be webcast live. To access the live webcast, you can use the following link https://onlinexperiences.com/scripts/Server.nxp?LASCmd=AI:4;F:QS!10100&ShowUUID=30D1B3D3-F11A-471B-953B-04F76B0F4210 or visit the Events and Presentations page located under the Investor Relations tab on Matador’s website at www.matadorresources.com.
About Matador Resources Company
Matador 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. Its current operations are focused primarily on the oil and liquids-rich portion of the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas. Matador also operates in the Haynesville shale and Cotton Valley plays in Northwest Louisiana. Additionally, Matador conducts midstream operations in support of its exploration, development and production operations and provides natural gas processing, oil transportation services, natural gas, oil and produced water gathering services and produced water disposal services to third parties.
For more information, visit Matador Resources Company at www.matadorresources.com.
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Energy M&A roared back to life in 2024 and 2025 as supermajors consolidated Permian and Bakken acreage. The catalysts for 2026 are firmly in place. West Texas Intermediate (WTI) crude trades at $92.16 per barrel as of June 1, 2026. That is roughly 44% above year-ago levels, fattening acquirer cash flows as a small group of mid-cap exploration and production companies (E&Ps) look strategically isolated. Our framework weighs market-cap digestibility, basin scarcity, balance-sheet flexibility, asset overlap with likely acquirers, and depressed trading multiples relative to peers. Three names stand out, ranked from the least likely target to the most acquirable.
3. Chord Energy (Least Likely) Chord Energy (NASDAQ: CHRD | CHRD Price Prediction) is the largest at a $7.8 billion market cap and a pure-play Williston Basin operator. Logical acquirers would be Bakken-adjacent majors: ConocoPhillips, Chevron, or Exxon, all with demonstrated appetite for low-cost oil-weighted inventory. ConocoPhillips carries a $140.8 billion market cap and $23.35 billion in EBITDA. That is more than enough financial firepower to absorb Chord without straining its balance sheet.
Strategic fit is real: 917.5 MMBoe (million barrels of oil equivalent) of proved reserves and Q1 2026 oil production of 158.0 MBopd (thousand barrels of oil per day) that beat guidance of 152.5 to 155.5 MBopd make Chord the dominant Williston pure-play. Valuation, however, is not compelling. Shares closed at $138.00 on June 1, 2026, up 48.9% year to date and 53.3% over the past year. The consensus analyst target price of $173.44 suggests further upside. However, Chord just completed its own $542.2M XTO Williston bolt-on, positioning it as a consolidator rather than prey.
2. Matador Resources Matador Resources (NYSE: MTDR) checks more acquisition boxes. The $7.0 billion market cap Delaware Basin pure-play holds roughly 217,600 net acres in the most consolidated basin in the United States. ConocoPhillips, Devon, or Diamondback would view the acreage and San Mateo midstream subsidiary as a clean strategic fit.
Operational momentum is undeniable. Q1 2026 adjusted EPS of $1.53 beat $1.26 by 21.41%, though revenue of $818.7 million fell short of estimates by 6.3%. Management raised FY26 oil guidance to 123,000 to 125,000 bpd with adjusted free cash flow of $1.1 billion to $1.2 billion. The midstream layer adds optionality: Five Point is exploring a continuation vehicle for its 49% San Mateo stake, a potential catalyst for a broader deal.
Valuation supports the case. Matador trades at a trailing P/E of 14x, forward P/E of 9x, and EV/EBITDA of 5x, a notable discount to large-cap Permian peers. The consensus target of $72.61 is well above the $56.07 close on June 1. CEO Joe Foran’s recent open-market purchase at $52.36 per share signals insider conviction, though founder-led companies often resist a sale until pricing is right.
1. Talos Energy (Most Likely) Talos Energy (NYSE: TALO) tops our ranking. At a $2.5 billion market cap, it is the most digestible target. Its asset base is also genuinely scarce: a pure-play offshore Gulf of Mexico E&P with material Mexico optionality. Murphy Oil, Hess, Harbour Energy (already partnered on Zama), or an international major like Repsol or Equinor all have logical reasons to bid.
The strategic fit is strongest. Monument is expected to deliver first oil in late 2026 at 20 to 30 MBoed gross. CPN starts production in Q3 2026, and the Daenerys sub-salt Miocene discovery sits in a region where deepwater inventory is increasingly rare. Talos already sold its 30.1% Talos Mexico stake to Grupo Carso for $82.7 million with $33.0 million contingent, signaling willingness to monetize.
The valuation case is compelling. Despite an 85.1% one-year gain to $14.88, the stock remains down 59.0% over 10 years. Its performance was weighed down by a $145 million Q1 ceiling-test impairment and $173.55 million in derivatives losses. EV/EBITDA of 5x and an analyst target of $18.70 imply meaningful upside. Additionally, $135 million in buybacks since mid-2025 cut share count by 7%, shrinking the float a bidder must absorb. New CEO Paul Goodfellow’s transformation strategy and an extended $700 million borrowing base through January 2030 position the asset cleanly for a sale.
Record cash flows are fueling a massive consolidation wave. These three energy players are now the prime targets in a $92 oil world. The Consolidation Setup The 2026 backdrop favors continued energy M&A. With WTI elevated, free cash flow at majors swelling, and prime acreage in the Permian, Bakken, and deepwater Gulf increasingly scarce, mid-cap pure-plays with focused asset bases sit squarely in the crosshairs. Chord stands out for Williston scale, Matador for Delaware acreage and midstream optionality, and Talos as the scarcest, most digestible asset. The strategic, operational, and valuation conditions are more aligned than they have been in years.
DALLAS--(BUSINESS WIRE)--Matador Resources Company (NYSE: MTDR) (“Matador”) today announced that it has entered into multiple agreements with affiliates of Energy Transfer LP (“ET”), including a gas supply agreement. This transaction is an additional step taken by Matador's marketing team to improve all-in pricing netbacks and reduce exposure to Waha Hub pricing in the second half of 2026. In addition to this gas supply agreement, Matador has executed separate natural gas liquid (“NGL”) agreeme.
A month has gone by since the last earnings report for Matador Resources (MTDR - Free Report) . Shares have added about 0.3% in that time frame, underperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Matador due for a pullback? Well, first let's take a quick look at the most recent earnings report in order to get a better handle on the recent catalysts for Matador Resources Company before we dive into how investors and analysts have reacted as of late.
Matador Q1 Earnings Beat Estimates on Higher Production VolumesMatador Resources reported first-quarter 2026 adjusted earnings of $1.53 per share, down 23.1% from $1.99 a year ago. The bottom line beat the Zacks Consensus Estimate of $1.24 by 23.4%.
Total revenues were $671.6 million, down 33.8% from $1,014 million in the year-ago quarter. The top line missed the Zacks Consensus Estimate of $883.3 million by 24.0%.
Better-than-expected quarterly earnings were driven by increased total production volumes and slightly lower operating expenses. The positives were partially offset by lower natural gas price realizations.
MTDR’s Upstream Business in Q1Matador Resources is primarily involved in oil and gas exploration and production activities in the United States. The company’s overall financial performance is heavily dependent on the oil and gas pricing environment. Most of MTDR’s production comprises oil (58% of total first-quarter production), making oil prices a major factor in determining the company’s earnings.
The average oil production was 120,277 barrels per day (Bbl/D), reflecting a 4.6% increase from the prior-year figure of 115,030. The figure also beat our estimate of 116,217.3 Bbl/D. Natural gas production was recorded at 523.9 million cubic feet per day (MMcf/D), up from 501.6 MMcf/D recorded a year ago. The reported figure came in higher than our estimate of 519.7 MMcf/D.
Total oil equivalent production in the first quarter was 207,594 barrels of oil equivalent (BOE/D), reflecting a 4.5% increase from the year-ago quarter’s figure of 198,631 BOE/D. The figure also exceeded our projection of 202,834.8 BOE/D. The company’s production volumes exceeded the midpoint of the guidance range by 3%, primarily due to the sustained outperformance of Matador Resources’ producing wells and those brought into production in the first quarter of 2026.
Matador Resources turned 36 net operated wells to production in the quarter, including a large portion in late February and March.
Matador Resources Faces Waha Gas Price CollapseA key pressure point in the quarter was natural gas pricing. Matador’s average realized natural gas price, excluding hedging, was 64 cents per thousand cubic feet (Mcf), sharply down from $3.56 per Mcf in the first quarter of 2025. The figure came in lower than our estimate of $2.74 per Mcf. The natural gas price decline was driven by a collapse in Waha prices, which forced roughly 3,000 BOE/D in voluntary shut-ins. Winter Storm Fern forced additional well shut-ins due to freezing conditions.
The average sales price for oil (excluding realized derivatives) was $72.83 per barrel, up from $72.38 a year ago. The commodity price was higher than our projection of $71.74 per barrel.
MTDR’s Operating ExpensesMTDR’s midstream operating expenses increased to $2.96 per BOE from the year-earlier level of $2.90.
Lease operating costs decreased to $5.76 per BOE from $5.84 a year ago. Our projection for the metric was $5.25 per BOE. General and administrative expenses increased to $2.09 per BOE from the year-earlier level of $1.89. Our estimate for the same was $1.89.
Transportation and processing costs declined to 79 cents per BOE from $1.12 per BOE in the year-ago quarter. Taxes other than income also declined to $3.79 per BOE from $4.31 recorded in the year-ago quarter.
Overall, total operating expenses per BOE were $31.06, lower than the prior-year figure of $31.83 and above our estimate of $29.79 per BOE.
Balance Sheet & Capital Spending of MTDRAs of March 31, 2026, MTDR had cash and restricted cash of $92.5 million and long-term debt of $4,782.4 million.
Matador Resources’ first-quarter total capital expenditures were $428.1 million, which is within the company’s guidance range of $415 million to $435 million. Meanwhile, the company spent $377.4 million on well drilling, completion and equipment.
MTDR 2026 Guidance RisesMatador Resources increased its full-year 2026 production guidance while keeping its capital budget unchanged. The company now expects full-year 2026 oil production to be in the range of 123,000-125,000 Bbl/D and total production to be between 210,500 BOE/D and 216,000 BOE/D. Total capital expenditures are unchanged at $1.45 - $1.55 billion.
How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a downward trend in estimates review.
VGM ScoresCurrently, Matador has a subpar Growth Score of D, however its Momentum Score is doing a lot better with an A. Following the exact same course, the stock has a score of A on the value side, putting it in the top 20% for value investors.
Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Interestingly, Matador has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry PlayerMatador is part of the Zacks Oil and Gas - Exploration and Production - United States industry. Over the past month, Devon Energy (DVN - Free Report) , a stock from the same industry, has gained 1.5%. The company reported its results for the quarter ended March 2026 more than a month ago.
Devon Energy reported revenues of $3.81 billion in the last reported quarter, representing a year-over-year change of -14.5%. EPS of $1.04 for the same period compares with $1.21 a year ago.
Devon Energy is expected to post earnings of $1.20 per share for the current quarter, representing a year-over-year change of +42.9%. Over the last 30 days, the Zacks Consensus Estimate has changed -17.9%.
Devon Energy has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of C.
Key Takeaways Matador signed natural gas supply and NGL marketing agreements with Energy Transfer affiliates.The deals support better natural gas price realizations for MTDR ahead of ET's Hugh Brinson Pipeline startup.MTDR secured 500 BBtu/d of transport capacity on the Hugh Brinson pipeline to access higher-priced markets. Matador Resources Company (MTDR - Free Report) announced multiple agreements with affiliates of Energy Transfer LP (ET - Free Report) aimed at improving natural gas price realizations and reducing the exposure to the historically weak Waha Hub pricing in the Permian Basin in the second half of 2026. The agreements with ET affiliates include a natural gas supply arrangement and separate natural gas liquid (NGL) marketing agreements designed to dedicate and sell NGLs produced from multiple Delaware Basin sources to Energy Transfer affiliates.
On Oct. 30, 2025, Matador secured firm transportation capacity of 500 billion British thermal units per day (BBtu/d) on Energy Transfer's Hugh Brinson Pipeline to transport natural gas from the Permian Basin to higher-priced markets. Since the Hugh Brinson pipeline is not yet operational, MTDR entered a gas supply agreement with Energy Transfer to bridge the gap. The arrangement will enable Matador to sell part of its natural gas at better prices in the second half of 2026, increasing revenues and cash flow. At the same time, Energy Transfer will use some of this natural gas to meet the surging power requirements of AI-driven data centers and power generation markets.
Management expects the arrangements to strengthen the ties between MTDR and ET as well as increase the value of its natural gas production until the Hugh Brinson Pipeline begins operations. It is also positioning the company to benefit from rising LNG exports and growing electricity demand from AI-driven data centers.
Matador and Energy Transfer currently carry a Zacks Rank #3 (Hold).
The U.S. Energy Information Administration’s short-term energy outlook predicts that U.S. LNG exports will grow from 15.1 billion cubic feet per day (Bcf/d) in 2025 to 18.2 Bcf/d in 2027. This substantial growth in LNG export volumes will increase natural gas demand, thereby benefiting Chevron Corporation (CVX - Free Report) , YPF Sociedad Anónima (YPF - Free Report) and Matador, which deal with the production of natural gas, as well as Energy Transfer, which handles transportation of natural gas.
CVX currently has a Zacks Rank #2 (Buy), whereas YPF sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Chevron is a leading integrated energy giant with a strong presence in the Permian Basin. Driven by strong upstream performance and continued growth across its resource base, CVX achieved first-quarter 2026 international net oil-equivalent production of 1.8 million barrels of oil equivalent per day, up from the prior-year period.
YPF is driving production growth by maximizing its core assets in Argentina’s Vaca Muerta. YPF plans to scale up operational activities in the coming quarters to increase oil and gas output in the second half of 2026.
On June 08, 2026, Matador Resources Co MTDR shares rose 3.2% to a current price of $55.31. The stock has seen a 52-week range between $37.14 and $66.84, highlighting notable volatility in its price performance.
GF Value™ verdict: Current price is $55.31, with a GF Value™ estimate of $60.29, indicating it is 8.3% undervalued.GF Score™ is 84/100, suggesting strong potential for future returns.Notable signal: Insiders bought $0.4M in the last 3 months, with no selling activity. Is MTDR Overvalued or Undervalued? The current price of Matador Resources Co MTDR at $55.31 is below the GF Value™ estimate of $60.29, suggesting that the stock is undervalued by approximately 8.3%. This margin of safety can be appealing for potential investors looking for opportunities in the oil and gas sector. The GF Valuation label indicates that MTDR is fairly valued, which should be noted as a cautionary signal for investors considering entry into the stock at this time. GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates.
While being undervalued presents an opportunity, it is essential to consider the risks associated with investing in a sector that can be influenced by fluctuating oil prices and geopolitical factors. The financial strength of the company, as indicated by the GF Score™, is moderate, and future performance estimates may be subject to uncertainty.
How Does MTDR's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 14.2x 7.5x Forward P/E 7.6x N/A The current P/E ratio of 14.2x is significantly above its 5-year median P/E of 7.5x, indicating that the stock is trading at a premium compared to its historical valuation. This analysis aligns with the GF Value™ verdict that suggests MTDR is undervalued, as the forward P/E of 7.6x indicates potential for improved earnings in the future, which may not yet be reflected in the current price.
What Does MTDR's GF Score™ Tell Us? Metric Rating GF Score™ 84/100 Financial Strength 5/10 Profitability 8/10 Growth 7/10 Valuation 10/10 Momentum 6/10 Matador Resources Co MTDR has a strong GF Score™ of 84/100, indicating the potential for higher long-term returns. The strongest area is the Valuation rank at 10/10, suggesting that the stock is positioned well on a valuation metric. However, Financial Strength at 5/10 reveals that the company may face challenges in its capital structure or liquidity. Profitability (8/10) and Growth (7/10) scores denote solid operational performance and growth prospects, respectively.
What Are Insiders Doing with MTDR Stock? In the last three months, insiders have bought $0.4 million worth of Matador Resources Co MTDR stock, with no selling activity reported. This pattern of buying can be seen as a positive signal, indicating that those with the most intimate knowledge of the company are confident in its future prospects. The lack of selling further reinforces this sentiment, suggesting that insiders believe the stock is undervalued at current prices.
What This Means for Investors Based on the current analysis, Matador Resources Co MTDR is considered undervalued according to the GF Value™ estimate. This suggests potential opportunities for investors, but it is essential to be mindful of the inherent risks involved in the oil and gas sector.
For the complete analysis, visit the Matador Resources Co MTDR stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.
Frequently Asked Questions What is MTDR's GF Score™?
MTDR's GF Score™ is 84/100, indicating strong potential for future returns based on various financial metrics.
Is MTDR overvalued or undervalued?
MTDR is undervalued according to the GF Value™ estimate, with a current price below the estimated fair value.
What is MTDR's P/E ratio?
The P/E ratio for MTDR is 14.2x, which is 90% above its 5-year median of 7.5x, indicating that the stock is currently trading at a premium compared to its historical valuation.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Key Takeaways CEOs of MTDR, WCN, and CELH have all recently acquired shares. Insider buys can provide a solid sentiment gauge concerning the longer-term outlook of a stock. Many strict rules apply to insiders, who also have a longer holding period than most. Investors closely monitor insider buys, as they can often be a decent gauge of sentiment regarding a stock's long-term outlook.
But it’s critical to note that insiders have longer holding periods than most, and that many strict rules apply to their transactions.
Recently, CEOs of several companies – Waste Connections (WCN - Free Report) , Matador Resources (MTDR - Free Report) , and Celsius (CELH - Free Report) – have made splashes, acquiring shares. Let’s take a closer look at the transactions for those interested in trading like the insiders.
Celsius CEO Makes SplashCelsius develops, markets, manufactures, and distributes functional energy and wellness beverages in the United States and internationally. Shares have had a tough showing in 2026 so far, down roughly 40%.
The CEO may have seen a small window of opportunity given the weakness in shares, acquiring roughly 8.5k CELH shares at an overall transaction value of just under $250k. While the weakness is hard to ignore, positive EPS revisions for its current and next fiscal years show nice positivity.
Image Source: Zacks Investment Research
MTDR Sees Positive Revisions Matador Resources is among the leading oil and gas explorers in shale and other unconventional resources in the United States. The CEO has recently made a few separate purchases over the last few weeks, acquiring roughly 5.1k MTDR shares overall at a transaction value of roughly $270k.
Both quarterly and annual EPS estimates have seen bullish revisions thanks to the favorable environment Matador Resources has found itself in concerning the energy landscape, with shares also up an impressive 30% YTD.
Image Source: Zacks Investment Research
Waste Connections Pays ShareholdersThe CEO of Waste Connections recently dove in with a sizable 50k share purchase, with the overall transaction value coming in at roughly $7.6 million. They now hold just over 300k WCN shares, with the recent purchase increasing their position by a fairly large margin.
Sales growth has remained steady over recent years, with the company also showing a strong commitment to increasingly rewarding shareholders, boasting an 11.5% five-year annualized dividend growth rate.
Below is a chart illustrating the company’s dividends per share on an annual basis. Please note that the most recent value is currently calculated on a trailing twelve-month basis, as its FY26 has just recently gotten underway.
Image Source: Zacks Investment Research
Bottom Line
Many investors closely monitor insider buys, looking to receive insights into the longer-term picture. The transactions shouldn’t be relied on for near-term performance, as insiders’ holding periods are longer than most, and many strict rules apply.
Rather, investors can see insider buys as an overall net positive concerning the longer-term outlook.
All stocks above – Waste Connections (WCN - Free Report) , Matador Resources (MTDR - Free Report) , and Celsius (CELH - Free Report) – have seen recent insider activity.
