On Friday, Shares of Matador Resources Company (NYSE: MTDR) showed the bullish trend with a higher momentum of 7.98% to $20.97. The company traded total volume of 2,375,580 shares as contrast to its average volume of 2.37M shares. The company has a market value of $2.14B and about 110.08M shares outstanding.
Matador Resources Company (MTDR) recently stated financial and operating results for the fourth quarter and full year 2018.
Fourth Quarter 2018 Highlights:
- Fourth quarter 2018 net income (GAAP basis) was $136.70M, or $1.17 per diluted common share, a sequential increase of $118.90M from $17.80M in the third quarter of 2018, and a year-over-year increase of 257% from $38.30M in the fourth quarter of 2017.
- Fourth quarter 2018 adjusted net income (a non-GAAP financial measure) was $43.00M, or $0.37 per diluted common share, a sequential decrease of $12.70M from $55.70M in the third quarter of 2018, and a year-over-year increase of 58% from $27.20M in the fourth quarter of 2017.
- Fourth quarter 2018 adjusted earnings before interest expense, income taxes, depletion, depreciation and amortization and certain other items (“Adjusted EBITDA,” a non-GAAP financial measure) were $143.20M, a sequential decrease of $12.20M from $155.40M in the third quarter of 2018, and a year-over-year increase of 32% from $108.60M in the fourth quarter of 2017.
Full Year 2018 Highlights:
Matador’s full year 2018 results were at record levels for nearly every noteworthy category of measurement as follows:
For the year ended December 31, 2018, Matador’s total oil equivalent production was an all-time high totaling 19.03M BOE, consisting of 11.14M barrels of oil and 47.30B cubic feet of natural gas, a boost of 34% as contrast to full year 2017. Full year 2018 oil and oil equivalent production were just above the high end of the Company’s updated full year 2018 guidance for oil and oil equivalent production of 11.0 to 11.10M barrels and 18.8 to 19.00M BOE, respectively. Full year 2018 natural gas production was near the high end of the Company’s updated full year 2018 natural gas guidance of 47.0 to 47.40B cubic feet. Matador’s full year 2018 guidance for oil, natural gas and total oil equivalent production was updated on October 31, 2018, thus, the second upward revision in 2018.
- Full year 2018 net income (GAAP basis) was $274.20M, or $2.41 per diluted common share, a year-over-year increase of 118% from $125.90M, or $1.23 per diluted common share, for the full year 2017.
- Full year 2018 adjusted net income (a non-GAAP financial measure) was $184.00M, or $1.62 per diluted common share, a year-over-year increase of 151% from $73.40M, or $0.72 per diluted common share, for the full year 2017.
- Full year 2018 Adjusted EBITDA, a non-GAAP financial measure, was $553.20M, a year-over-year increase of 65% from $336.10M for the full year 2017. Full year 2018 Adjusted EBITDA of $553.20M was near the high end of the Company’s full year 2018 guidance for Adjusted EBITDA of $535.0 to $555.00M, as updated and revised upwards for the second time on October 31, 2018.
The Company offered net profit margin of 30.50% while its gross profit margin was 77.70%. ROE was recorded as 18.30% while beta factor was 1.89. The stock, as of recent close, has shown the weekly upbeat performance of 5.09% which was maintained at 25.05% in this year.
