Matador Resources Company
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Range $54 – $93
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About the company
Matador Resources Company operates as an independent energy firm, primarily engaged in the identification, development, extraction, and acquisition of crude oil and natural gas reserves throughout the United States. Its business operations are structured into two distinct divisions: Exploration and Production, and Midstream. The company's key asset holdings are concentrated in the Wolfcamp and Bone Spring formations within the Delaware Basin, which spans southeastern New Mexico and West Texas.
- CEO
- Joseph Wm. Foran
- IPO
- 2012
- Employees
- 483
- HQ
- Dallas, TX, US
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Similar companies
Peers in the same neighborhood.
- Market Cap
- $7.20B
- P/E
- 9.95
- Fwd P/E
- 7.70
- PEG
- -0.67
- P/S
- 1.85
- P/B
- 1.21
- EV/EBITDA
- 4.40
- Div Yield
- 2.59%
- Gross Margin
- 102.67%
- Op Margin
- 36.30%
- Net Margin
- 18.60%
- ROE
- 12.76%
- ROIC
- 10.09%
Latest fiscal year · YoY change
- Revenue
- $3.66B+5.1%
- Gross Profit
- $1.60B+3.7%
- Op Income
- $1.19B
- Net Income
- $759.22M-14.2%
- EPS
- $6.10-14.8%
- OCF Growth
- +7.9%
- FCF Growth
- -13.7%
- 52W High
- $66.84
- 52W Low
- $37.14
- 50D MA
- $51.46
- 200D MA
- $50.68
- Beta
- 0.76
- RSI (14)
- 68
- Avg Volume
- 1.99M
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
Matador said Q2 2026 was a strong quarter with near-record free cash flow, debt reduction, and reserves growth, while raising oil growth guidance and outlining a longer runway from recent acquisitions.· August 6, 2026
- Adjusted free cash flow was near a record at $303 million, and $200 million was used to pay down acquisition-related bank debt.
- The company said it exceeded the high end of production guidance and increased oil and gas reserves from 667 million to 703 million BOE, up 5%.
- Management raised year-over-year oil growth guidance from 4% to 7% while keeping capital expenditures 1% lower.
- The federal lease sale and recent acquisitions were described as extending inventory life to more than 15 years and improving long-term development optionality.
- Management emphasized continued debt reduction, with the RBL balance now below $1 billion and a goal to largely pay it down, if not off, by year-end.
Matador reported near-record adjusted free cash flow of $303 million in Q2 2026, with $200 million of that used to repay bank debt tied to the federal lease acquisition. Management said it exceeded the high end of production guidance, and reserves increased 5% to 703 million barrels of oil equivalent from 667 million BOE. The company raised year-over-year oil growth guidance from 4% to 7% while reducing capital expenditures by 1%. Looking ahead, management said it expects about $900 million of free cash flow for the year and believes the acquisition-related debt could be largely paid down, if not paid off, by year-end.
Joe Foran framed the quarter as proof that Matador can buy high-quality acreage, integrate it, and then de-lever. He highlighted the strategic fit of Cardinal, Paloma, Ridge Runner, and the federal leases, saying the new assets extend inventory life and support a stronger 2026 and even better 2027. His tone was upbeat and disciplined, with repeated emphasis on debt reduction, bank support, and profitable growth at a measured pace.
The CFO commentary focused on the financial benefits of the new assets and infrastructure. Michael Frenzel said the marketing gain this quarter reflected the team’s efforts to mitigate weak Waha pricing, but noted that the gain is not expected to repeat; instead, the company expects a strong improvement in natural gas realizations from the Hugh Brinson Pipeline and deals with Energy Transfer. Bryan Erman said permitting on the federal acreage is already underway, with potential to begin operations as early as the end of this year or early next year, and Mac Schmitz added that 12 operated wells near the acreage are being completed for Q3 and that midstream spend is increasing to support the area.
Analysts focused on the economics of the new acreage, 2027 growth plans, development timing on the federal leases, and how the acquisitions affect midstream strategy. Management said the new properties can support more than 80% rates of return because of high-quality rock, 15%-20% higher expected oil EURs, nine or more benches, lower well costs into the $600 per foot range, and midstream synergies. On timing, management said federal permits are moving now and operations could begin by year-end or early next year, while midstream buildout and nearby operated wells suggest early activity in the area. On strategy, management said the company is still de-levering but will stay open to additional opportunities if they fit as well as Cardinal or the federal lease sale.
The call suggested Matador is converting acquisitions into stronger cash generation, higher reserves, and a longer development runway. Management was optimistic that the new acreage and midstream network can support attractive returns, improved gas realizations, and strong free cash flow even while debt is reduced.
The main risks discussed were Waha pricing weakness, which drove the marketing gain but is not expected to recur, and the need to keep de-levering after large acquisitions. Management also acknowledged that production growth and development depend on permitting, infrastructure buildout, and commodity prices staying in a workable range, with Joe Foran noting the program would look different if oil fell to $30 per barrel.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 92.7%
- Shares Outstanding
- 124.18M
- Float Shares
- 115.12M
of shares held by institutions
516 13F filers
Buy/sell ratio 6.00. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Congressional trading
Senate and House stock disclosures for MTDR, newest first.
Source: public STOCK Act disclosures. Filed weeks after the trade — a lagging signal, not a real-time one.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Vanguard Group Inc | 14.76M | ▼ 19.12K |
| Blackrock, Inc. | 11.53M | ▲ 391.80K |
| Dimensional Fund Advisors LP | 7.09M | ▲ 139.43K |
| State Street Corp | 5.24M | ▲ 108.08K |
| Vanguard Capital Management LLC | 5.10M | ▲ 30.76K |
| Lsv Asset Management | 4.02M | ▲ 175.76K |
| Wellington Management Group Llp | 4.00M | ▼ 922 |
| T. Rowe Price Investment Management, Inc. | 3.73M | ▼ 13.30K |
| Alliancebernstein L.P. | 3.21M | ▲ 548.66K |
| Adage Capital Partners Gp, L.L.C. | 3.18M | ▲ 145.02K |
| Morgan Stanley | 2.92M | ▲ 749.98K |
| American Century Companies Inc | 2.76M | ▲ 539.99K |
Held by 342 ETFs
Biggest fund positions in MTDR by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Aug 17, 26 | Foran Joseph Wm | buy | 400 |
| Aug 13, 26 | Foran Joseph Wm | buy | 5,000 |
| Aug 12, 26 | Foran Joseph Wm | buy | 10,000 |
| Aug 10, 26 | STEWART KENNETH L. | other | 9,400 |
| Aug 10, 26 | Elsener William Thomas | buy | 850 |
| Aug 11, 26 | Foran Joseph Wm | buy | 709 |
| Aug 10, 26 | Foran Joseph Wm | buy | 3,130 |
| Jun 15, 26 | Baty Robert Gaines | buy | 500 |
| Jun 11, 26 | Ward Susan M | other | 3,642 |
| Jun 11, 26 | STEWART KENNETH L. | other | 3,642 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our MTDR coverage
Recent articles, reports, and earnings notes.
Want a deeper read on MTDR?
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Matador Resources: Midstream Connectivity Makes The Acreage More Valuable
seekingalpha.com · Aug 13
Matador Resources Company $MTDR Stock Position Reduced by Bank of America Corp DE
defenseworld.net · Aug 12
Matador Resources Co (MTDR) Shares Surge 6.5% -- What GF Score of 74 Tells Investors
gurufocus.com · Aug 10
MTDR Q2 Earnings Beat Estimates on Oil Output & Pricing
zacks.com · Aug 10
Matador Resources Q2 Earnings Call Highlights
marketbeat.com · Aug 8
Compared to Estimates, Matador (MTDR) Q2 Earnings: A Look at Key Metrics
zacks.com · Aug 7
Matador Resources Company (MTDR) Q2 2026 Earnings Call Transcript
seekingalpha.com · Aug 6
Here's What Key Metrics Tell Us About Matador (MTDR) Q2 Earnings
zacks.com · Aug 5
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