Matador Res Co Stock Price, News & Analysis

Matador Resources Company (MTDR) reported strong third quarter 2021 results, exceeding expectations in production and financial metrics. Key highlights include net income of $203.6 million, or $1.71 per diluted share, a 92% sequential increase. Adjusted EBITDA reached $293.8 million, up 143% year-over-year. Average daily production was 90,000 BOE, with record oil and gas revenues totaling $461.5 million. The company doubled its quarterly cash dividend to $0.05 per share and reduced debt significantly by repaying $140 million in borrowings, improving its leverage ratio to 1.3x, the lowest since mid-2018.

Matador Resources Company (NYSE: MTDR) has amended its dividend policy, increasing the quarterly cash dividend from $0.025 to $0.05 per share. This change reflects the Company's growing financial strength and commitment to returning value to shareholders. The declared dividend is payable on December 1, 2021, to shareholders of record as of November 10, 2021. CEO Joseph Wm. Foran expressed confidence in the company’s future and appreciation for shareholder support. The third quarter 2021 results are set to be released after market close on October 26, 2021.

Matador Resources Company (NYSE: MTDR) announced an operational update highlighting its fifth drilling rig's use to establish a new salt water disposal well in Eddy County, New Mexico, crucial for managing increased water volumes. The new well is part of the 2021 capital budget, with drilling completed by late September. Matador's capital expenditures for Q3 2021 were approximately $121 million, about 14% under budget. Future operations will include nine new wells at the Rodney Robinson leasehold, expected to commence sales by early Q1 2022. Further financial results will be disclosed on October 26, 2021.

Matador Resources Company (NYSE: MTDR) is set to release its third quarter 2021 operational and financial results on October 26, 2021, post-market close. A live conference call will follow on October 27, 2021, at 9:00 a.m. Central Time for a detailed review of the results. Interested parties can join via phone or through the company’s website. Matador focuses on oil and natural gas operations in the Delaware Basin and has significant activities in various plays across Texas and Louisiana.

Matador Resources Company (NYSE: MTDR) announced upgrades by Moody's Investors Service, enhancing its Corporate Family Rating (CFR) from B2 to B1 and senior unsecured notes from B3 to B2. These upgrades, effective September 1, 2021, reflect Matador's improved cost structure and free cash flow capabilities, supporting further debt reduction and growth in a favorable oil price environment. CEO Joseph Foran expressed satisfaction with these ratings, indicating a continued commitment to debt repayment and operational success.

Matador Resources Company (MTDR) reported exceptional second quarter 2021 financial results, showcasing record highs in oil and natural gas production, with revenues reaching $412.1 million. Adjusted EBITDA surged to $261 million, a 32% increase from Q1 2021, while adjusted free cash flow hit a record $156.3 million, up 145% sequentially. Net income climbed to $105.9 million or $0.89 per share, a significant uptick from previous quarters. Following strong operational efforts, Matador reduced outstanding borrowings by $100 million and affirmed full-year production guidance despite some deferred activities.

Matador Resources Company (NYSE: MTDR) has declared a quarterly cash dividend of $0.025 per share of common stock, set for payment on September 3, 2021. Eligible shareholders must be on record by August 12, 2021. Matador is focused on the exploration and production of oil and natural gas, primarily in the Delaware Basin and Eagle Ford shale. The company also engages in midstream operations, providing processing and transportation services.

Matador Resources Company (NYSE: MTDR) plans to release its second quarter 2021 operational and financial results after trading on July 27, 2021. A live conference call will be held on July 28, 2021, at 9:00 a.m. Central Time to discuss these results. Participants can join via phone or through the Company's website. Matador focuses on the exploration, development, and production of oil and natural gas, primarily in the Delaware Basin and other key regions.

Matador Resources Company (NYSE: MTDR) announced key developments including an upgrade from S&P Global Ratings, raising its issuer credit rating from ‘B-’ to ‘B’, and its senior unsecured notes from ‘B’ to ‘B+’. This reflects anticipated improvements in credit measures due to disciplined capital spending and recent debt repayments. Additionally, Matador's midstream affiliate, San Mateo Midstream, secured a $75 million increase in lender commitments, raising its revolving credit facility to $450 million. The accordion feature also expands potential commitments to $700 million.