Oil and gas producer Matador Resources (NYSE: MTDR) will be reporting earnings this Wednesday after market close. Here’s what you need to know.
Matador Resources missed analysts’ revenue expectations last quarter, reporting revenues of $671.6 million, down 33.8% year on year. It was a softer quarter for the company, with a significant miss of analysts’ EBITDA estimates. It reported year-on-year oil production per day growth of 4.6%.
Is Matador Resources a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Matador Resources’s revenue to grow 16.5% year on year, improving from the 5.7% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Matador Resources has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Matador Resources’s peers in the u.s. shale e&p segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Cactus delivered year-on-year revenue growth of 64.3%, beating analysts’ expectations by 12.3%, and Crescent Energy reported revenues up 55.3%, topping estimates by 7.1%. Cactus traded up 18.5% following the results.
Read our full analysis of Cactus’s results here and Crescent Energy’s results here.
There has been positive sentiment among investors in the u.s. shale e&p segment, with share prices up 6% on average over the last month. Matador Resources is down 2.4% during the same time and is heading into earnings with an average analyst price target of $68.63 (compared to the current share price of $48.68).
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