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Matador Resources (MTDR) to Post Q2 Earnings: What's in Store?
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Matador Resources Company (MTDR - Free Report) is set to report second-quarter 2023 earnings on Jul 25, after the closing bell.
In the last reported quarter, the company’s earnings of $1.50 per share beat the Zacks Consensus Estimate of $1.24, thanks to higher oil-equivalent production volumes.
In each of the last four quarters, Matador Resources’ earnings beat the Zacks Consensus Estimate, the average surprise being 11.5%. This is depicted in the graph below:
The Zacks Consensus Estimate for second-quarter earnings per share of $1.43 has witnessed five downward revisions over the past 30 days. The estimated figure suggests a decline of 58.8% from the prior-year reported number.
The Zacks Consensus Estimate for second-quarter revenues of $650.2 million indicates a decrease of 31.1% from the year-ago reported figure.
Factors to Note
The pricing scenario of West Texas Intermediate (WTI) crude was considerably lower in the second quarter than in the year-ago period. Per data from the U.S. Energy Information Administration, the monthly WTI crude spot prices for this year’s April, May and June were $79.45 per barrel, $71.58 per barrel and $70.25 per barrel, respectively. The commodity prices were way lower than last year’s prices of $101.78 per barrel, $109.55 per barrel and $114.84 per barrel, respectively. Worries over a recession and economic slowdown possibly hurt oil price in the June quarter.
We expect the realized oil price, without realized derivatives, at $72.35 per barrel, suggesting a decline of 34.9% year over year. However, increasing production volumes, thanks to a strong position in the prolific Delaware basin, are likely to have partially offset the negative. Our estimate for net production volumes for the second quarter is pegged at 6,889.8 thousand barrels, suggesting a year-over-year increase of 17.7%.
Since the fate of exploration and production players are highly dependent on oil price, weak commodity price is likely to have hurt Matador Resources’ bottom line in the quarter.
Earnings Whispers
Our proven model does not indicate an earnings beat for Matador Resources this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. That is not the case here, as you will see below.
Earnings ESP: MTDR’s Earnings ESP is -6.39%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #5 (Strong Sell).
Stocks to Consider
Here are some firms that you may want to consider, as these have the right combination of elements to post an earnings beat in the upcoming quarterly reports:
The company is scheduled to release second-quarter earnings on Aug 2. The Zacks Consensus Estimate for MUSA’s earnings is pegged at $6.11 per share, suggesting a decline from the prior-year reported figure.
Cactus, Inc. (WHD - Free Report) has an Earnings ESP of +4.41% and a Zacks #3 at present.
Cactus is scheduled to release second-quarter results on Aug 7. The Zacks Consensus Estimate for WHD’s earnings is pegged at 74 cents per share, indicating an improvement from the year-ago quarter’s reported figure.
Southwestern Energy Company (SWN - Free Report) has an Earnings ESP of +5.30% and is a Zacks #3 Ranked player at present.
Southwestern is scheduled to release second-quarter results on Aug 3. The Zacks Consensus Estimate for SWN’s earnings is pegged at 9 cents per share, suggesting a decline from the prior-year reported figure.
Image: Bigstock
Matador Resources (MTDR) to Post Q2 Earnings: What's in Store?
Matador Resources Company (MTDR - Free Report) is set to report second-quarter 2023 earnings on Jul 25, after the closing bell.
In the last reported quarter, the company’s earnings of $1.50 per share beat the Zacks Consensus Estimate of $1.24, thanks to higher oil-equivalent production volumes.
In each of the last four quarters, Matador Resources’ earnings beat the Zacks Consensus Estimate, the average surprise being 11.5%. This is depicted in the graph below:
Matador Resources Company Price and EPS Surprise
Matador Resources Company price-eps-surprise | Matador Resources Company Quote
Estimate Trend
The Zacks Consensus Estimate for second-quarter earnings per share of $1.43 has witnessed five downward revisions over the past 30 days. The estimated figure suggests a decline of 58.8% from the prior-year reported number.
The Zacks Consensus Estimate for second-quarter revenues of $650.2 million indicates a decrease of 31.1% from the year-ago reported figure.
Factors to Note
The pricing scenario of West Texas Intermediate (WTI) crude was considerably lower in the second quarter than in the year-ago period. Per data from the U.S. Energy Information Administration, the monthly WTI crude spot prices for this year’s April, May and June were $79.45 per barrel, $71.58 per barrel and $70.25 per barrel, respectively. The commodity prices were way lower than last year’s prices of $101.78 per barrel, $109.55 per barrel and $114.84 per barrel, respectively. Worries over a recession and economic slowdown possibly hurt oil price in the June quarter.
We expect the realized oil price, without realized derivatives, at $72.35 per barrel, suggesting a decline of 34.9% year over year. However, increasing production volumes, thanks to a strong position in the prolific Delaware basin, are likely to have partially offset the negative. Our estimate for net production volumes for the second quarter is pegged at 6,889.8 thousand barrels, suggesting a year-over-year increase of 17.7%.
Since the fate of exploration and production players are highly dependent on oil price, weak commodity price is likely to have hurt Matador Resources’ bottom line in the quarter.
Earnings Whispers
Our proven model does not indicate an earnings beat for Matador Resources this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. That is not the case here, as you will see below.
Earnings ESP: MTDR’s Earnings ESP is -6.39%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #5 (Strong Sell).
Stocks to Consider
Here are some firms that you may want to consider, as these have the right combination of elements to post an earnings beat in the upcoming quarterly reports:
Murphy USA Inc. (MUSA - Free Report) has an Earnings ESP of +0.20% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The company is scheduled to release second-quarter earnings on Aug 2. The Zacks Consensus Estimate for MUSA’s earnings is pegged at $6.11 per share, suggesting a decline from the prior-year reported figure.
Cactus, Inc. (WHD - Free Report) has an Earnings ESP of +4.41% and a Zacks #3 at present.
Cactus is scheduled to release second-quarter results on Aug 7. The Zacks Consensus Estimate for WHD’s earnings is pegged at 74 cents per share, indicating an improvement from the year-ago quarter’s reported figure.
Southwestern Energy Company (SWN - Free Report) has an Earnings ESP of +5.30% and is a Zacks #3 Ranked player at present.
Southwestern is scheduled to release second-quarter results on Aug 3. The Zacks Consensus Estimate for SWN’s earnings is pegged at 9 cents per share, suggesting a decline from the prior-year reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.