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Why Is Matador (MTDR) Up 22.7% Since Last Earnings Report?
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A month has gone by since the last earnings report for Matador Resources (MTDR - Free Report) . Shares have added about 22.7% in that time frame, outperforming the S&P 500.
But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Matador due for a pullback? Well, first let's take a quick look at its latest earnings report in order to get a better handle on the recent drivers for Matador Resources Company before we dive into how investors and analysts have reacted as of late.
Matador Q4 Earnings & Revenues Beat on Higher Production Volumes
Matador Resources Company reported fourth-quarter 2025 adjusted earnings of 87 cents per share, which beat the Zacks Consensus Estimate of 71 cents. The bottom line declined from the year-ago quarter’s level of $1.83.
Total revenues of $849 million topped the Zacks Consensus Estimate of $812.3 million. The bottom line decreased from the year-ago quarter’s $970.4 million.
Better-than-expected quarterly results were driven by an increase in total production volumes and slightly lower total operating expenses. The positives were partially offset by lower oil price realizations.
Upstream Business
Matador Resources is primarily involved in oil and gas exploration and production activities in the United States. The company’s overall financial performance is heavily dependent on the oil and gas pricing environment. Most of MTDR’s production comprises oil (57% of total fourth-quarter production), making this commodity’s price a major factor in determining the company’s earnings.
The average daily oil production was 121,363 barrels, reflecting a 1.5% increase from the anticipated figure. The company’s production volumes exceeded the guidance range, primarily due to the sustained outperformance of Matador Resources’ producing wells and those brought into production in the fourth quarter of 2025.
Let us take a look at the average commodity sales price, along with production.
Average Sales Price of Commodities
The average sales price for oil (without realized derivatives) was $58.89 per barrel, down from $70.66 a year ago. The commodity price was also lower than our projection of $58.93 per barrel. The price of natural gas was 95 cents per thousand cubic feet (Mcf), down from $2.72 in the year-ago quarter. However, the figure came in lower than our estimate of $2.23 per Mcf.
Upstream Production
Matador Resources reported oil production of 121,363 barrels per day (Bbl/D), up from 118,440 Bbl/D in the prior-year quarter. The figure also beat our estimate of 119,653.9 Bbl/D. Natural gas production was recorded at 539.6 million cubic feet per day (MMcf/D), up from 496.1 MMcf/D recorded a year ago. The reported figure came in higher than our estimate of 517.2 MMcf/D.
The rise in total average production can be attributed to the sustained outperformance of the company’s existing wells and the new wells brought into production in the fourth quarter. Notably, Matador Resources’ non-operated wells in the Haynesville shale, where the company mainly owns mineral interest, contributed to the production increase.
Total oil equivalent production in the fourth quarter was 211,290 BOE/D, reflecting a 5% increase from the year-ago quarter’s 201,116 BOE/D. The figure also exceeded our projection of 205,857.2 BOE/D.
Operating Expenses
MTDR’s midstream operating expenses increased to $3.22 per BOE from the year-earlier level of $2.70.
Lease operating costs increased to $5.25 per BOE from $5.13 a year ago. Our projection for the metric was pinned at $6.28 per BOE. General and administrative expenses decreased to $1.77 per BOE from the year-earlier level of $2.22. Our estimate for the same was pinned at $2.18.
Transportation and processing costs declined to 59 cents per BOE from 91 cents in the year-ago quarter. Taxes other than income also declined to $3.18 per BOE from $4.08 recorded in the year-ago quarter.
Overall, total operating expenses per BOE were $29.73, lower than the prior-year figure of $30.89 and also below our estimate of $32.78 per BOE.
Balance Sheet & Capital Spending
As of Dec. 31, 2025, MTDR had cash and restricted cash of $79.5 million and a long-term debt of $4,682.4 million. In the fourth quarter, the company spent $474.4 million on well drilling, completion and equipment.
Outlook
For 2026, Matador Resources expects its average daily oil equivalent production to be 209,500-215,000 BOE/d, an increase from the 2025 guidance figure of 205,500-206,500 BOE/d. The company also expects average daily total production for the first quarter of 2026 to be 201,000-205,000 BOE/d. It also projects 2026 capital expenditure (CapEx) to be in the range of $1.450-$1.550 billion, while first-quarter 2026 is expected to be between $415 billion and $435 billion. Matador Resources further projects that a majority of its 2026 D/C/E and midstream CapEx — about 55% to 60% of the planned $1.5 billion — will be deployed during the first six months of the year.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed a upward trend in estimates revision.
The consensus estimate has shifted 7.23% due to these changes.
VGM Scores
Currently, Matador has a subpar Growth Score of D, however its Momentum Score is doing a lot better with an A. Following the exact same course, the stock was allocated a grade of A on the value side, putting it in the top quintile for value investors.
Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Matador has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
Matador belongs to the Zacks Oil and Gas - Exploration and Production - United States industry. Another stock from the same industry, Antero Resources (AR - Free Report) , has gained 29.8% over the past month. More than a month has passed since the company reported results for the quarter ended December 2025.
Antero Resources reported revenues of $1.41 billion in the last reported quarter, representing a year-over-year change of +20.8%. EPS of $0.42 for the same period compares with $0.58 a year ago.
For the current quarter, Antero Resources is expected to post earnings of $0.80 per share, indicating a change of +2.6% from the year-ago quarter. The Zacks Consensus Estimate has changed +5.8% over the last 30 days.
Antero Resources has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of C.
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Why Is Matador (MTDR) Up 22.7% Since Last Earnings Report?
A month has gone by since the last earnings report for Matador Resources (MTDR - Free Report) . Shares have added about 22.7% in that time frame, outperforming the S&P 500.
But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Matador due for a pullback? Well, first let's take a quick look at its latest earnings report in order to get a better handle on the recent drivers for Matador Resources Company before we dive into how investors and analysts have reacted as of late.
Matador Q4 Earnings & Revenues Beat on Higher Production Volumes
Matador Resources Company reported fourth-quarter 2025 adjusted earnings of 87 cents per share, which beat the Zacks Consensus Estimate of 71 cents. The bottom line declined from the year-ago quarter’s level of $1.83.
Total revenues of $849 million topped the Zacks Consensus Estimate of $812.3 million. The bottom line decreased from the year-ago quarter’s $970.4 million.
Better-than-expected quarterly results were driven by an increase in total production volumes and slightly lower total operating expenses. The positives were partially offset by lower oil price realizations.
Upstream Business
Matador Resources is primarily involved in oil and gas exploration and production activities in the United States. The company’s overall financial performance is heavily dependent on the oil and gas pricing environment. Most of MTDR’s production comprises oil (57% of total fourth-quarter production), making this commodity’s price a major factor in determining the company’s earnings.
The average daily oil production was 121,363 barrels, reflecting a 1.5% increase from the anticipated figure. The company’s production volumes exceeded the guidance range, primarily due to the sustained outperformance of Matador Resources’ producing wells and those brought into production in the fourth quarter of 2025.
Let us take a look at the average commodity sales price, along with production.
Average Sales Price of Commodities
The average sales price for oil (without realized derivatives) was $58.89 per barrel, down from $70.66 a year ago. The commodity price was also lower than our projection of $58.93 per barrel. The price of natural gas was 95 cents per thousand cubic feet (Mcf), down from $2.72 in the year-ago quarter. However, the figure came in lower than our estimate of $2.23 per Mcf.
Upstream Production
Matador Resources reported oil production of 121,363 barrels per day (Bbl/D), up from 118,440 Bbl/D in the prior-year quarter. The figure also beat our estimate of 119,653.9 Bbl/D. Natural gas production was recorded at 539.6 million cubic feet per day (MMcf/D), up from 496.1 MMcf/D recorded a year ago. The reported figure came in higher than our estimate of 517.2 MMcf/D.
The rise in total average production can be attributed to the sustained outperformance of the company’s existing wells and the new wells brought into production in the fourth quarter. Notably, Matador Resources’ non-operated wells in the Haynesville shale, where the company mainly owns mineral interest, contributed to the production increase.
Total oil equivalent production in the fourth quarter was 211,290 BOE/D, reflecting a 5% increase from the year-ago quarter’s 201,116 BOE/D. The figure also exceeded our projection of 205,857.2 BOE/D.
Operating Expenses
MTDR’s midstream operating expenses increased to $3.22 per BOE from the year-earlier level of $2.70.
Lease operating costs increased to $5.25 per BOE from $5.13 a year ago. Our projection for the metric was pinned at $6.28 per BOE. General and administrative expenses decreased to $1.77 per BOE from the year-earlier level of $2.22. Our estimate for the same was pinned at $2.18.
Transportation and processing costs declined to 59 cents per BOE from 91 cents in the year-ago quarter. Taxes other than income also declined to $3.18 per BOE from $4.08 recorded in the year-ago quarter.
Overall, total operating expenses per BOE were $29.73, lower than the prior-year figure of $30.89 and also below our estimate of $32.78 per BOE.
Balance Sheet & Capital Spending
As of Dec. 31, 2025, MTDR had cash and restricted cash of $79.5 million and a long-term debt of $4,682.4 million. In the fourth quarter, the company spent $474.4 million on well drilling, completion and equipment.
Outlook
For 2026, Matador Resources expects its average daily oil equivalent production to be 209,500-215,000 BOE/d, an increase from the 2025 guidance figure of 205,500-206,500 BOE/d. The company also expects average daily total production for the first quarter of 2026 to be 201,000-205,000 BOE/d. It also projects 2026 capital expenditure (CapEx) to be in the range of $1.450-$1.550 billion, while first-quarter 2026 is expected to be between $415 billion and $435 billion. Matador Resources further projects that a majority of its 2026 D/C/E and midstream CapEx — about 55% to 60% of the planned $1.5 billion — will be deployed during the first six months of the year.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed a upward trend in estimates revision.
The consensus estimate has shifted 7.23% due to these changes.
VGM Scores
Currently, Matador has a subpar Growth Score of D, however its Momentum Score is doing a lot better with an A. Following the exact same course, the stock was allocated a grade of A on the value side, putting it in the top quintile for value investors.
Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Matador has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
Matador belongs to the Zacks Oil and Gas - Exploration and Production - United States industry. Another stock from the same industry, Antero Resources (AR - Free Report) , has gained 29.8% over the past month. More than a month has passed since the company reported results for the quarter ended December 2025.
Antero Resources reported revenues of $1.41 billion in the last reported quarter, representing a year-over-year change of +20.8%. EPS of $0.42 for the same period compares with $0.58 a year ago.
For the current quarter, Antero Resources is expected to post earnings of $0.80 per share, indicating a change of +2.6% from the year-ago quarter. The Zacks Consensus Estimate has changed +5.8% over the last 30 days.
Antero Resources has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of C.