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Matador (MTDR) to Report Q2 Earnings: What's in Store?
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Matador Resources Company (MTDR - Free Report) is set to report second-quarter 2024 earnings on Jul 23, after the closing bell.
Let us delve into the factors that are anticipated to have affected this upstream energy player’s performance. However, before that, it would be worth taking a look at MTDR’s first-quarter performance.
Highlights of Q1 Earnings & Surprise History
In the last reported quarter, the company’s adjusted earnings per share of $1.71 beat the Zacks Consensus Estimate of $1.48, primarily driven by its high total production volume, averaging more than 149,700 barrels of oil equivalent per day, along with an increase in the realized price of oil.
Matador’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 14.29%. This is depicted in the graph below:
The Zacks Consensus Estimate for second-quarter earnings per share of $1.75 has witnessed two downward and upward revisions over the past 30 days. The estimate suggests a 23.24% improvement from the prior-year reported number.
The Zacks Consensus Estimate for second-quarter revenues of $818.13 million indicates a 28.22% increase from the year-ago reported figure.
Factors to Note
Matador is expected to have maintained a stable performance in the second quarter, bolstered by relatively strong oil prices.
Moreover, the integration of MAXCOM operations might have been beneficial, enhancing well performanceand reducing key service costs. This commitment to innovation, coupled with consistently surpassing production targets, is likely to have enhanced Matador's profitability during the quarter.
However, challenges are likely to have loomed due to the softening of natural gas prices. Per EIA, the Natural Gas Henry Hub Spot price has declined 2.03% sequentially in the second quarter and 3.52% year over year, partly due to ongoing geopolitical tensions affecting global energy markets.
These factors are anticipated to have affected demand and pricing dynamics, potentially hampering Matador’s quarterly performance.
Earnings Whisper
Our proven model does not indicate an earnings beat for Matador 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 -1.24%. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #2.
Stocks to Consider
Here are some stocks that you may want to consider, as these have the right combination of elements to post an earnings beat this reporting cycle.
Baker Hughes is scheduled to release second-quarter earnings on Jul 25. The Zacks Consensus Estimate for BKR’s earnings is pegged at 49 cents per share, suggesting an 25.64% increase from the prior-year reported figure.
Enterprise Products Partners L.P. (EPD - Free Report) presently has an Earnings ESP of +4.25% and a Zacks Rank #3.
Enterprise is scheduled to release second-quarter earnings on Jul 30. The Zacks Consensus Estimate for EPD’s earnings is pegged at 65 cents per share, suggesting a 14.04% increase from the prior-year reported figure.
EQT Corporation (EQT - Free Report) currently has an Earnings ESP of +11.35% and a Zacks Rank #2.
EQT Corporation is scheduled to release second-quarter earnings on Jul 23. The Zacks Consensus Estimate loss per share estimate for EQT is pegged at $0.14, narrower than the prior-year reported loss of $0.17.
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Matador (MTDR) to Report Q2 Earnings: What's in Store?
Matador Resources Company (MTDR - Free Report) is set to report second-quarter 2024 earnings on Jul 23, after the closing bell.
Let us delve into the factors that are anticipated to have affected this upstream energy player’s performance. However, before that, it would be worth taking a look at MTDR’s first-quarter performance.
Highlights of Q1 Earnings & Surprise History
In the last reported quarter, the company’s adjusted earnings per share of $1.71 beat the Zacks Consensus Estimate of $1.48, primarily driven by its high total production volume, averaging more than 149,700 barrels of oil equivalent per day, along with an increase in the realized price of oil.
Matador’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 14.29%. 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 $1.75 has witnessed two downward and upward revisions over the past 30 days. The estimate suggests a 23.24% improvement from the prior-year reported number.
The Zacks Consensus Estimate for second-quarter revenues of $818.13 million indicates a 28.22% increase from the year-ago reported figure.
Factors to Note
Matador is expected to have maintained a stable performance in the second quarter, bolstered by relatively strong oil prices.
Moreover, the integration of MAXCOM operations might have been beneficial, enhancing well performanceand reducing key service costs. This commitment to innovation, coupled with consistently surpassing production targets, is likely to have enhanced Matador's profitability during the quarter.
However, challenges are likely to have loomed due to the softening of natural gas prices. Per EIA, the Natural Gas Henry Hub Spot price has declined 2.03% sequentially in the second quarter and 3.52% year over year, partly due to ongoing geopolitical tensions affecting global energy markets.
These factors are anticipated to have affected demand and pricing dynamics, potentially hampering Matador’s quarterly performance.
Earnings Whisper
Our proven model does not indicate an earnings beat for Matador 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 -1.24%. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #2.
Stocks to Consider
Here are some stocks that you may want to consider, as these have the right combination of elements to post an earnings beat this reporting cycle.
Baker Hughes Company (BKR - Free Report) currently has an Earnings ESP of +1.59% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Baker Hughes is scheduled to release second-quarter earnings on Jul 25. The Zacks Consensus Estimate for BKR’s earnings is pegged at 49 cents per share, suggesting an 25.64% increase from the prior-year reported figure.
Enterprise Products Partners L.P. (EPD - Free Report) presently has an Earnings ESP of +4.25% and a Zacks Rank #3.
Enterprise is scheduled to release second-quarter earnings on Jul 30. The Zacks Consensus Estimate for EPD’s earnings is pegged at 65 cents per share, suggesting a 14.04% increase from the prior-year reported figure.
EQT Corporation (EQT - Free Report) currently has an Earnings ESP of +11.35% and a Zacks Rank #2.
EQT Corporation is scheduled to release second-quarter earnings on Jul 23. The Zacks Consensus Estimate loss per share estimate for EQT is pegged at $0.14, narrower than the prior-year reported loss of $0.17.