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Matador Resources (MTDR)


Market Price (6/26/2026): $50.18 | Market Cap: $6.2 BilSector: Energy | Industry: Oil & Gas Exploration & Production

Matador Resources (MTDR)


Market Price (6/26/2026): $50.18
Market Cap: $6.2 Bil
Sector: Energy
Industry: Oil & Gas Exploration & Production

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.8%, Dividend Yield is 2.0%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 5.7%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 60%, CFO LTM is 2.2 Bil

Low stock price volatility
Vol 12M is 41%

Megatrend and thematic drivers
Megatrends include US Energy Independence. Themes include US Oilfield Technologies, and US LNG.

Weak multi-year price returns
2Y Excs Rtn is -43%, 3Y Excs Rtn is -58%

Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 10%

Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 57%

Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -2.9%, Rev Chg QQuarterly Revenue Change % is -6.4%

Key risks
MTDR key risks include [1] a substantial debt burden with minimal cash reserves and [2] high vulnerability to regional regulatory changes and potential exploration bans due to its operational concentration in the Delaware Basin.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.8%, Dividend Yield is 2.0%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 5.7%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 60%, CFO LTM is 2.2 Bil
2 Low stock price volatility
Vol 12M is 41%
3 Megatrend and thematic drivers
Megatrends include US Energy Independence. Themes include US Oilfield Technologies, and US LNG.
4 Weak multi-year price returns
2Y Excs Rtn is -43%, 3Y Excs Rtn is -58%
5 Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 10%
6 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 57%
7 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -2.9%, Rev Chg QQuarterly Revenue Change % is -6.4%
8 Key risks
MTDR key risks include [1] a substantial debt burden with minimal cash reserves and [2] high vulnerability to regional regulatory changes and potential exploration bans due to its operational concentration in the Delaware Basin.

MTDR in ETFs

Weight = MTDR's share of each fund

VTI0.01%
ITOT0.01%
IWB0.01%
IJH0.19%
VYM0.03%
VB0.07%
FXN4.2%
XOP2.5%
+18 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 6/15/2026

Matador Resources (MTDR) stock has remained largely at the same level since 2/28/2026 because of the following key factors:

1. Matador Resources demonstrated strong operational performance in fiscal Q1 2026, boosting production guidance. The company reported adjusted earnings of $1.53 per share for fiscal Q1 2026, surpassing the Zacks Consensus Estimate of $1.24 by 23.4%. This outperformance was primarily driven by a 4.5% year-over-year increase in total oil equivalent production, reaching 207,594 barrels of oil equivalent per day (BOE/D), which exceeded the midpoint of guidance by 3%. Additionally, Matador increased its full-year 2026 production guidance for oil (123,000-125,000 Bbl/D) and total BOE production (210,500-216,000 BOE/D) while maintaining its capital expenditure outlook, signaling improved capital efficiency.

2. Significant weakness in natural gas prices and substantial unrealized hedging losses offset operational gains. Despite robust production, Matador's average realized natural gas price in fiscal Q1 2026, excluding hedging, was a mere $0.64 per thousand cubic feet (Mcf), a sharp decline from $3.56 per Mcf in the prior year's first quarter. This severe price environment for natural gas led to voluntary production shut-ins and, crucially, a $255.5 million unrealized loss on derivatives (hedging) in fiscal Q1 2026, resulting in a reported net loss of $35.9 million. This financial headwind largely negated the positive impact of higher oil production and cost management.

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Updated on 6/15/2026

Matador Resources (MTDR) stock has remained largely at the same level since 2/28/2026 because of the following key factors:

1. Matador Resources demonstrated strong operational performance in fiscal Q1 2026, boosting production guidance. The company reported adjusted earnings of $1.53 per share for fiscal Q1 2026, surpassing the Zacks Consensus Estimate of $1.24 by 23.4%. This outperformance was primarily driven by a 4.5% year-over-year increase in total oil equivalent production, reaching 207,594 barrels of oil equivalent per day (BOE/D), which exceeded the midpoint of guidance by 3%. Additionally, Matador increased its full-year 2026 production guidance for oil (123,000-125,000 Bbl/D) and total BOE production (210,500-216,000 BOE/D) while maintaining its capital expenditure outlook, signaling improved capital efficiency.

2. Significant weakness in natural gas prices and substantial unrealized hedging losses offset operational gains. Despite robust production, Matador's average realized natural gas price in fiscal Q1 2026, excluding hedging, was a mere $0.64 per thousand cubic feet (Mcf), a sharp decline from $3.56 per Mcf in the prior year's first quarter. This severe price environment for natural gas led to voluntary production shut-ins and, crucially, a $255.5 million unrealized loss on derivatives (hedging) in fiscal Q1 2026, resulting in a reported net loss of $35.9 million. This financial headwind largely negated the positive impact of higher oil production and cost management.

3. Volatile and mixed crude oil price trends contributed to market uncertainty. The broader crude oil market experienced significant fluctuations during the period. Brent crude prices surged to nearly $117.27 per barrel by March 9, 2026, due to geopolitical tensions in the Middle East affecting the Strait of Hormuz, before easing back below $100 later in March. The U.S. Energy Information Administration (EIA) projected Brent prices to hover around $106 per barrel in May and June 2026 before potentially softening further, while year-end 2026 West Texas Intermediate (WTI) oil price expectations averaged $74 per barrel. These sharp price movements and subsequent corrections created a volatile environment that likely prevented a sustained upward stock trajectory.

4. A cautious overall sentiment prevailed in the energy sector, limiting sustained upside. The Dallas Fed Energy Survey for fiscal Q1 2026 indicated increasing oil and gas activity but also highlighted elevated outlook uncertainty, with the uncertainty index rising from 43.4 to 53.7. Furthermore, 59% of responding firms expected activity to remain largely the same based on April 2026 survey data. This general industry caution, despite some positive company-specific news and analyst "Buy" ratings with price targets implying upside, acted as a broader dampening factor, contributing to Matador Resources' stock remaining largely range-bound.

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Stock Movement Drivers

Fundamental Drivers

The -1.7% change in MTDR stock from 2/28/2026 to 6/25/2026 was primarily driven by a -35.2% change in the company's Net Income Margin (%).
(LTM values as of)22820266252026Change
Stock Price ($)51.0550.16-1.7%
Change Contribution By: 
Total Revenues ($ Mil)3,6573,592-1.8%
Net Income Margin (%)20.8%13.5%-35.2%
P/E Multiple8.412.853.4%
Shares Outstanding (Mil)1241230.6%
Cumulative Contribution-1.7%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2026 to 6/25/2026
ReturnCorrelation
MTDR-1.7% 
Market (SPY)7.3%-41.5%
Sector (XLE)-2.6%85.5%

Fundamental Drivers

The 20.0% change in MTDR stock from 11/30/2025 to 6/25/2026 was primarily driven by a 92.6% change in the company's P/E Multiple.
(LTM values as of)113020256252026Change
Stock Price ($)41.8050.1620.0%
Change Contribution By: 
Total Revenues ($ Mil)3,8253,592-6.1%
Net Income Margin (%)20.4%13.5%-34.1%
P/E Multiple6.712.892.6%
Shares Outstanding (Mil)1241230.7%
Cumulative Contribution20.0%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 6/25/2026
ReturnCorrelation
MTDR20.0% 
Market (SPY)8.1%-26.2%
Sector (XLE)21.4%81.0%

Fundamental Drivers

The 20.2% change in MTDR stock from 5/31/2025 to 6/25/2026 was primarily driven by a 128.6% change in the company's P/E Multiple.
(LTM values as of)53120256252026Change
Stock Price ($)41.7250.1620.2%
Change Contribution By: 
Total Revenues ($ Mil)3,7003,592-2.9%
Net Income Margin (%)25.2%13.5%-46.6%
P/E Multiple5.612.8128.6%
Shares Outstanding (Mil)1251231.4%
Cumulative Contribution20.2%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2025 to 6/25/2026
ReturnCorrelation
MTDR20.2% 
Market (SPY)26.0%-8.9%
Sector (XLE)36.9%77.6%

Fundamental Drivers

The 21.7% change in MTDR stock from 5/31/2023 to 6/25/2026 was primarily driven by a 205.6% change in the company's P/E Multiple.
(LTM values as of)53120236252026Change
Stock Price ($)41.2350.1621.7%
Change Contribution By: 
Total Revenues ($ Mil)3,0973,59216.0%
Net Income Margin (%)37.8%13.5%-64.4%
P/E Multiple4.212.8205.6%
Shares Outstanding (Mil)119123-3.6%
Cumulative Contribution21.7%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2023 to 6/25/2026
ReturnCorrelation
MTDR21.7% 
Market (SPY)82.6%33.7%
Sector (XLE)55.7%82.5%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
MTDR Return207%56%1%0%-22%20%350%
Peers Return219%44%12%0%-10%30%503%
S&P 500 Return27%-19%24%23%16%7%96%

Monthly Win Rates [3]
MTDR Win Rate67%67%50%50%58%67% 
Peers Win Rate78%58%52%47%53%63% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
MTDR Max Drawdown-31%-35%-38%-32%-42%-24% 
Peers Max Drawdown-33%-38%-25%-28%-36%-17% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: FANG, EOG, DVN, PR, SM. See MTDR Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/25/2026 (YTD)

How Low Can It Go

EventMTDRS&P 500
2025 US Tariff Shock
  % Loss-34.9%-18.8%
  % Gain to Breakeven53.5%23.1%
  Time to Breakeven331 days79 days
2024 Yen Carry Trade Unwind
  % Loss-11.9%-7.8%
  % Gain to Breakeven13.5%8.5%
  Time to Breakeven108 days18 days
2023 SVB Regional Banking Crisis
  % Loss-34.2%-6.7%
  % Gain to Breakeven52.0%7.1%
  Time to Breakeven120 days31 days
2020 COVID-19 Crash
  % Loss-90.8%-33.7%
  % Gain to Breakeven989.2%50.9%
  Time to Breakeven267 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-58.7%-19.2%
  % Gain to Breakeven142.4%23.8%
  Time to Breakeven904 days105 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-10.6%-3.7%
  % Gain to Breakeven11.9%3.9%
  Time to Breakeven27 days6 days

Compare to FANG, EOG, DVN, PR, SM

In The Past

Matador Resources's stock fell -34.9% during the 2025 US Tariff Shock. Such a loss loss requires a 53.5% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventMTDRS&P 500
2025 US Tariff Shock
  % Loss-34.9%-18.8%
  % Gain to Breakeven53.5%23.1%
  Time to Breakeven331 days79 days
2023 SVB Regional Banking Crisis
  % Loss-34.2%-6.7%
  % Gain to Breakeven52.0%7.1%
  Time to Breakeven120 days31 days
2020 COVID-19 Crash
  % Loss-90.8%-33.7%
  % Gain to Breakeven989.2%50.9%
  Time to Breakeven267 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-58.7%-19.2%
  % Gain to Breakeven142.4%23.8%
  Time to Breakeven904 days105 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-44.4%-12.2%
  % Gain to Breakeven79.8%13.9%
  Time to Breakeven128 days62 days
2014-2016 Oil Price Collapse
  % Loss-54.0%-6.8%
  % Gain to Breakeven117.5%7.3%
  Time to Breakeven381 days15 days

Compare to FANG, EOG, DVN, PR, SM

In The Past

Matador Resources's stock fell -34.9% during the 2025 US Tariff Shock. Such a loss loss requires a 53.5% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Matador Resources (MTDR)

Matador Resources Company (MTDR) is an independent energy company primarily focused on the exploration, development, and production of oil and natural gas within the United States. The company's core operations center on key unconventional plays, including the Wolfcamp and Bone Spring plays in the Delaware Basin across Southeast New Mexico and West Texas. Additionally, Matador holds interests in the Eagle Ford shale play in South Texas and the Haynesville shale and Cotton Valley plays in Northwest Louisiana. As of late 2021, its estimated total proved reserves stood at 323.4 million barrels of oil equivalent, comprising a significant mix of crude oil and natural gas, which are its primary products.

Beyond its upstream exploration and production activities, Matador Resources also operates a midstream segment that supports its own E&P efforts and provides services to third parties. This segment offers essential infrastructure services such as natural gas processing, oil transportation, and comprehensive gathering services for oil, natural gas, and produced water. Matador further provides produced water disposal services. By integrating these midstream capabilities, Matador enhances the efficiency of its resource extraction and delivery, while also generating revenue by serving other energy producers in its operating regions.

AI Analysis | Feedback

Here are 1-2 brief analogies for Matador Resources (MTDR):

  • Think of them as a focused, independent oil and natural gas producer that's like a smaller Chevron, but specialized in drilling in key US shale basins and also owning and operating much of its own pipelines and processing plants.

  • Essentially a US-based integrated energy company, similar to a regional BP, but intensely concentrated on developing oil and gas from shale formations and providing midstream services to itself and other companies.

AI Analysis | Feedback

  • Oil: Matador Resources engages in the exploration, development, and production of crude oil.
  • Natural Gas: The company is involved in the exploration, development, and production of natural gas.
  • Natural Gas Processing Services: Matador Resources provides services for processing natural gas.
  • Oil Transportation Services: The company offers services for transporting crude oil.
  • Oil, Natural Gas, and Produced Water Gathering Services: Matador Resources provides services for collecting and transporting oil, natural gas, and produced water.
  • Produced Water Disposal Services: The company offers services for the disposal of produced water.

AI Analysis | Feedback

Matador Resources Company (symbol: MTDR) sells its products and services primarily to other companies, not to individuals.

As an independent energy company engaged in the exploration, development, and production of oil and natural gas, and also providing midstream services, Matador Resources typically sells its commodities (crude oil, natural gas, natural gas liquids) and services to other entities within the energy value chain. Specific customer company names are generally not publicly disclosed by such companies unless a single customer accounts for a significant portion (e.g., 10% or more) of their revenue, and such information is not available in the provided background. Therefore, the major customers can be categorized by the types of companies they represent:

  1. Refineries and Petrochemical Companies: These companies purchase crude oil and natural gas liquids (NGLs) from Matador Resources to process into various refined petroleum products (like gasoline, diesel, jet fuel) and chemical feedstocks.
  2. Natural Gas Utilities, Power Generation Companies, and Industrial Users: These customers purchase natural gas for distribution to residential and commercial end-users, for electricity generation, or as a raw material/fuel for various industrial processes.
  3. Other Energy Companies, Marketing Firms, and Traders: Matador Resources provides midstream services such as natural gas processing, oil transportation, and gathering services for oil, natural gas, and produced water, as well as produced water disposal. These services are typically utilized by other exploration and production companies, marketing firms, or energy traders to manage their own commodity volumes. These entities may also purchase crude oil and natural gas commodities from Matador.

AI Analysis | Feedback

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AI Analysis | Feedback

Joseph Wm. Foran

Founder, Chairman of the Board and Chief Executive Officer

Joseph Wm. Foran founded Foran Oil Company in June 1983, which was the predecessor of Matador Resources Company. In 1988, he founded Matador Petroleum Corporation, where he served as Chairman and Chief Executive Officer until its sale to Tom Brown, Inc. in June 2003 for $388 million in an all-cash transaction. Immediately following this sale, Mr. Foran founded Matador Resources Company in July 2003, where he has since served as Founder, Chairman of the Board, and Chief Executive Officer. Early backing for Matador Resources Company included private equity firms such as Warburg Pincus.

Robert T. Macalik

Executive Vice President and Chief Financial Officer

Robert T. Macalik was promoted to Executive Vice President and Chief Financial Officer of Matador Resources Company on September 30, 2025. He joined Matador in July 2015 as Vice President and Chief Accounting Officer. Prior to joining Matador, Mr. Macalik worked at Pioneer Natural Resources Company from 2012 to 2015, where he held positions as Corporate Controller and Director of Technical Accounting and Financial Reporting. Before Pioneer, he was a Senior Manager with PricewaterhouseCoopers (PwC) starting in 2002, where he managed audits for public companies, primarily in the oil and natural gas industry.

Van H. Singleton II

Co-President – Land, Acquisitions and Divestitures and Planning

Bryan A. Erman

Co-President, Chief Legal Officer and Head of M&A

Christopher P. Calvert

Executive Vice President and Chief Operating Officer

AI Analysis | Feedback

Matador Resources Company (MTDR), an independent energy company engaged in the exploration, development, and production of oil and natural gas resources, faces several key business risks.

Key Risks to Matador Resources (MTDR)

  1. Commodity Price Volatility: Matador Resources is significantly exposed to the volatile prices of oil, natural gas, and natural gas liquids (NGLs), which directly influence its revenue, profitability, and cash flows. Fluctuations in these commodity prices, influenced by geopolitical events and supply-demand dynamics, can negatively impact the company's financial performance. For example, negative Waha natural gas prices in late 2025 led to voluntary production curtailments for Matador. While the company employs hedging strategies to mitigate some of this price volatility, it remains a primary liquidity risk.
  2. Regulatory and Environmental Risks: The company faces considerable regulatory risks, particularly due to its substantial operations on federal lands. Potential changes in complex environmental laws, tax legislation, and new climate disclosure rules (such as those proposed by the SEC) could increase compliance costs and operational restrictions. Furthermore, the broader energy transition, including a global shift towards renewables, tighter emissions regulations, and potential future bans on new exploration licenses, poses a long-term threat to Matador's asset values and growth prospects.
  3. Operational Risks and Geographic Concentration: Matador Resources' business model inherently involves operational risks associated with the speculative nature of drilling and production, including uncertainties in drilling success rates and potential for significant financial losses. A substantial portion of Matador's operations and proved reserves are concentrated in the Delaware Basin in Southeast New Mexico and West Texas, making the company vulnerable to regional disruptions. These disruptions could include severe weather events, infrastructure constraints, or regulatory changes specific to the Delaware Basin. Delays in developing reserves or increased costs for drilling and development could also reduce the present value of its estimated proved undeveloped reserves.

AI Analysis | Feedback

The accelerating global energy transition towards renewable energy sources and electric vehicles, which directly threatens the long-term demand for Matador Resources' primary products, oil and natural gas.

AI Analysis | Feedback

Matador Resources Company primarily operates in the exploration, development, and production of oil and natural gas. The addressable markets for its main products, crude oil and natural gas, are defined by the production volumes within the specific basins where the company operates in the United States.

Delaware Basin (Southeast New Mexico and West Texas, U.S.)

  • The Delaware Basin, a sub-basin of the Permian Basin, is a significant oil and gas producing region. Total hydrocarbon production in the Delaware Basin was estimated to reach a record 5.7 million barrels of oil equivalent per day (MMboe/d) on average in 2022.
  • As of February 28, 2025, the gross production for the Delaware Basin was reported at 3.2 million barrels of oil per day (MMBopd) and 14.8 billion cubic feet per day (Bcfpd) of natural gas.
  • In April 2022, the Permian Basin, which includes the Delaware Basin, accounted for 43.6% of oil production and nearly 15% of natural gas production within the U.S.
  • Natural gas production in the Delaware Basin alone is more than 12 billion cubic feet of gas a day (Bcf/d).
  • The Permian Basin's natural gas production is forecasted to climb to 27.7 Bcf/d in 2025 and 28 Bcf/d in 2026. In 2025, the Permian Basin's marketed gas production averaged 27.7 Bcf/d, representing 23% of total U.S. marketed gas production.

Eagle Ford Shale Play (South Texas, U.S.)

  • The Eagle Ford Shale region currently generates approximately 1.1 million barrels of oil per day (b/d) from horizontal wells. This oil production is forecasted to remain around 1.1 million b/d through 2026.
  • Natural gas production in the Eagle Ford Shale reached approximately 6.6 billion cubic feet per day (Bcf/d). U.S. annual natural gas production from the Eagle Ford region is expected to increase from 6.8 Bcf/d in 2024 to 7.0 Bcf/d in 2026.
  • The Eagle Ford play specifically accounts for 73% (5.5 Bcf/d) of the region's natural gas production and 86% (1.0 million b/d) of its oil production.

Haynesville Shale (Northwest Louisiana and East Texas, U.S.)

  • Natural gas production from the Haynesville Shale averaged 14.9 Bcf/d in 2025.
  • Haynesville gas production is projected to grow to an average of 15.6 Bcf/d in 2026 and further increase to 17.1 Bcf/d in 2027. The U.S. Energy Information Administration (EIA) also anticipates Haynesville production to reach 15.2 Bcf/d in 2025 and 15.6 Bcf/d in 2026.
  • The Haynesville Shale is expected to become the top source of U.S. natural gas production growth in 2027.

Cotton Valley Play (Northwest Louisiana, U.S.)

  • While a comprehensive market size for the entire Cotton Valley play in terms of current production was not readily available, Matador Resources has identified 200-300 billion cubic feet (Bcf) of gas opportunities within the Cotton Valley. The Cotton Valley formation is located along the U.S. Gulf Coast.

AI Analysis | Feedback

Here are 3-5 expected drivers of future revenue growth for Matador Resources (MTDR) over the next 2-3 years:

  1. Increased Oil and Natural Gas Production Volumes: Matador Resources consistently projects and has achieved significant growth in its oil and natural gas equivalent (BOE) production. The company reported record production in Q4 2025 of 211,290 BOE per day and has provided 2026 guidance forecasting approximately 3% oil production growth to 123,000 barrels of oil per day, with overall production expected to be between 209,500 and 215,000 BOE per day. This anticipated increase in volumes directly translates to higher revenue, assuming stable or favorable commodity prices. The company also expects to produce over 200,000 BOE per day in 2025.
  2. Expansion and Growth of Midstream Assets: The company's midstream segment, including its 51%-owned San Mateo assets and wholly-owned facilities, is a key growth driver. Matador plans for continued midstream expansions, such as the Marlin II plant expansion expected in the first half of 2025, to increase takeaway capacity and operational efficiency. Management projects the combined Adjusted EBITDA of its midstream assets to grow by 8% in 2026 to $360 million, driven by both Matador's and third-party volumes.
  3. Strategic Acquisitions and Acreage Expansion: Matador has a history of strategic acquisitions that expand its operational footprint and resource base. For instance, the company successfully integrated the Advance acreage acquisition in 2023, which surpassed production expectations, and the Ameredev acquisition contributed to production growth in 2024. In 2025, Matador expanded its Delaware Basin footprint by 17,500 net acres, bringing its total to approximately 212,500 net acres. The company continues to prioritize quality land acquisitions and reserves growth as strategic objectives for 2026.
  4. Improved Capital Efficiency and Operational Optimization: Matador's focus on capital efficiency and operational improvements allows it to achieve production growth with reduced capital expenditure. The company's 2026 operating plan anticipates growing oil production by approximately 3% while simultaneously cutting total capital expenditures by 11%. This is achieved through initiatives like reduced drilling and completion costs (projected at $795 per lateral foot in 2026, a 6% reduction from 2025) and a 13% reduction in well cycle times. These efficiencies enhance profitability per barrel and support sustainable production growth.
  5. Access to Higher-Priced Natural Gas Markets: Matador is actively working to optimize its natural gas realizations. The company has secured 500 MMBtu per day of firm natural gas transportation on Energy Transfer's new Hugh Brinson pipeline. This improved market access to hubs like Henry Hub and potential LNG and AI-related demand centers is expected to provide significant additional revenue, with each $0.50 per MMBtu increase in realized natural gas price estimated to boost annual revenue by approximately $90 million.

AI Analysis | Feedback

Capital Allocation Decisions (Last 3-5 Years)

Share Repurchases

  • Matador's Board of Directors authorized a $400 million share repurchase program in April 2025.
  • In 2025, Matador repurchased 1.3 million shares for approximately $55 million, at a weighted average price of about $41 per share, under its $400 million program.
  • The company repurchased 1.1 million shares for $44 million in the second quarter of 2025 at an average price of $40.37 per share.

Share Issuance

  • Matador Resources reported no significant proceeds from the issuance of common stock for the full years 2025, 2024, and 2023.

Outbound Investments

  • In 2025, Matador pursued its "brick-by-brick" acquisition strategy, completing over 690 separate transactions for approximately 17,500 net acres in the Delaware Basin, with a total consideration of about $245 million.
  • During the third quarter of 2025, Matador completed more than $125 million in transactions aimed at improving its land position and increasing working interests in key areas.
  • Matador completed the Ameredev acquisition in 2024, which expanded its Delaware Basin acreage and significantly contributed to its asset base.

Capital Expenditures

  • Matador's full-year 2025 capital expenditures for drilling, completing, and equipping wells (D/C/E CapEx) were $1.53 billion, within the expected range, and resulted in 129.4 net wells turned to sales.
  • For 2026, Matador anticipates total capital expenditures to be $1.50 billion, representing an 11% reduction from 2025, with a focus on improving capital efficiency and reducing drilling and completion costs per lateral foot by 6% to approximately $795.
  • Full-year 2024 D/C/E capital expenditures were $1.32 billion, aligning with the expected range of $1.15 billion to $1.35 billion, while midstream capital expenditures were $238.7 million, including costs related to the Marlan Plant expansion.

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Financials

MTDRFANGEOGDVNPRSMMedian
NameMatador .Diamondb.EOG Reso.Devon En.Permian .SM Energy 
Mkt Price50.16182.55133.5942.6018.8626.5246.38
Mkt Cap6.251.671.126.215.35.320.8
Rev LTM3,59215,10823,49816,5435,0773,77510,092
Op Inc LTM1,1224,7247,6483,1161,8149272,465
FCF LTM59-7853,9662,423339555447
FCF 3Y Avg285-1,3934,6891,505463-208374
CFO LTM2,1688,23110,7216,4243,5252,1684,974
CFO 3Y Avg2,2247,16511,0796,6113,2031,8924,907

Growth & Margins

MTDRFANGEOGDVNPRSMMedian
NameMatador .Diamondb.EOG Reso.Devon En.Permian .SM Energy 
Rev Chg LTM-2.9%17.7%0.5%-1.5%-1.1%27.9%-0.3%
Rev Chg 3Y Avg5.6%20.4%-5.7%-3.8%30.7%10.1%7.9%
Rev Chg Q-6.4%4.4%15.7%-14.5%0.8%75.8%2.6%
QoQ Delta Rev Chg LTM-1.8%1.2%4.1%-3.8%0.2%20.3%0.7%
Op Inc Chg LTM-23.8%-4.3%-8.1%-28.7%-17.2%-16.7%-17.0%
Op Inc Chg 3Y Avg-11.8%-6.4%-15.3%-25.0%12.5%-13.0%-12.4%
Op Mgn LTM31.2%31.3%32.5%18.8%35.7%24.6%31.3%
Op Mgn 3Y Avg37.7%41.2%35.2%24.9%41.7%33.6%36.5%
QoQ Delta Op Mgn LTM-1.2%-1.4%0.4%-3.6%-1.0%-1.6%-1.3%
CFO/Rev LTM60.3%54.5%45.6%38.8%69.4%57.4%56.0%
CFO/Rev 3Y Avg64.6%59.9%47.3%41.1%68.5%63.1%61.5%
FCF/Rev LTM1.7%-5.2%16.9%14.6%6.7%14.7%10.7%
FCF/Rev 3Y Avg8.2%-8.2%20.0%9.7%10.1%-7.5%8.9%

Valuation

MTDRFANGEOGDVNPRSMMedian
NameMatador .Diamondb.EOG Reso.Devon En.Permian .SM Energy 
Mkt Cap6.251.671.126.215.35.320.8
P/S1.73.43.01.63.01.42.4
P/Op Inc5.510.99.38.48.45.78.4
P/EBIT7.0116.39.77.612.512.311.0
P/E12.8181.812.911.623.640.418.3
P/CFO2.96.36.64.14.32.44.2
Total Yield9.8%2.8%10.8%11.0%7.4%4.5%8.6%
Dividend Yield2.0%2.2%3.0%2.3%3.1%2.0%2.3%
FCF Yield 3Y Avg4.1%-2.5%6.4%4.6%--9.7%4.1%
D/E0.60.30.10.30.21.50.3
Net D/E0.60.30.10.30.21.40.3

Returns

MTDRFANGEOGDVNPRSMMedian
NameMatador .Diamondb.EOG Reso.Devon En.Permian .SM Energy 
1M Rtn-6.7%-6.4%-1.9%-5.0%-3.1%-16.0%-5.7%
3M Rtn-21.3%-9.2%-8.7%-16.4%-11.4%-18.3%-13.9%
6M Rtn21.9%25.7%30.8%19.1%38.2%43.9%28.3%
12M Rtn8.2%35.7%15.5%36.0%43.0%12.1%25.6%
3Y Rtn7.1%60.2%35.0%-1.2%103.0%-4.6%21.1%
1M Excs Rtn-4.6%-4.3%0.2%-2.8%-1.0%-13.9%-3.6%
3M Excs Rtn-28.9%-18.0%-17.6%-26.5%-20.7%-26.8%-23.6%
6M Excs Rtn14.4%17.4%24.5%11.4%29.3%36.4%20.9%
12M Excs Rtn-14.2%13.6%-6.1%14.3%19.2%-10.2%3.7%
3Y Excs Rtn-57.9%-7.2%-33.1%-70.0%45.7%-64.8%-45.5%

Comparison Analyses

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Exploration and production3,3663,1782,5512,8751,543
Midstream715640480390273
Corporate0000 
Consolidations and Eliminations-385-312-225-208-153
Total3,6963,5052,8073,0581,663


Operating Income by Segment
$ Mil20252024202320222021
Exploration and production1,0651,3021,1341,698748
Midstream278246175163131
Consolidations and Eliminations0000 
Corporate-117-114-99-102-86
Total1,2271,4351,2091,759793


Assets by Segment
$ Mil20252024202320222021
Exploration and production9,7379,1176,3864,0233,325
Midstream1,8341,6141,2581,017880
Corporate1391198351558
Consolidations and Eliminations0000 
Total11,71110,8507,7275,5554,262


Price Behavior

Price Behavior
Market Price$50.16 
Market Cap ($ Bil)6.2 
First Trading Date02/02/2012 
Distance from 52W High-22.8% 
   50 Days200 Days
DMA Price$56.38$48.81
DMA Trendupdown
Distance from DMA-11.0%2.8%
 3M1YR
Volatility45.2%41.0%
Downside Capture-59.23-47.91
Upside Capture-115.43-26.96
Correlation (SPY)-43.0%-7.8%
MTDR Betas & Captures as of 5/31/2026

 1M2M3M6M1Y3Y
Beta-2.68-2.67-1.67-1.05-0.320.93
Up Beta-4.13-3.65-2.77-1.92-0.881.06
Down Beta-4.35-3.45-1.39-0.140.511.63
Up Capture-210%-114%-70%-40%-11%17%
Bmk +ve Days13283667141432
Stock +ve Days11243769133412
Down Capture-106%-303%-218%-229%-115%72%
Bmk -ve Days7132757109318
Stock -ve Days9172655117338

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with MTDR
MTDR6.6%40.9%0.26-
Sector ETF (XLE)30.6%20.8%1.1877.1%
Equity (SPY)22.1%12.4%1.33-7.8%
Gold (GLD)20.8%27.7%0.67-5.4%
Commodities (DBC)23.3%18.5%0.9952.8%
Real Estate (VNQ)11.6%13.8%0.55-4.3%
Bitcoin (BTCUSD)-42.9%42.5%-1.206.8%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with MTDR
MTDR10.7%47.3%0.38-
Sector ETF (XLE)19.3%26.0%0.6783.1%
Equity (SPY)13.3%17.1%0.6039.5%
Gold (GLD)17.4%18.3%0.776.9%
Commodities (DBC)7.9%19.5%0.3060.7%
Real Estate (VNQ)2.8%18.9%0.0527.9%
Bitcoin (BTCUSD)9.8%54.1%0.3817.6%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with MTDR
MTDR9.3%65.0%0.44-
Sector ETF (XLE)9.3%29.6%0.3579.9%
Equity (SPY)15.3%18.0%0.7345.7%
Gold (GLD)11.6%16.1%0.591.9%
Commodities (DBC)5.9%18.0%0.2556.3%
Real Estate (VNQ)5.5%20.7%0.2335.3%
Bitcoin (BTCUSD)56.4%66.5%0.9714.0%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date6152026
Short Interest: Shares Quantity12.8 Mil
Short Interest: % Change Since 53120267.9%
Average Daily Volume1.7 Mil
Days-to-Cover Short Interest7.6 days
Basic Shares Quantity123.5 Mil
Short % of Basic Shares10.3%

Earnings Returns History

Updated 6/9/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/6/2026-3.8%-0.1%-6.6%
2/24/2026-1.5%6.7%21.7%
10/21/2025-9.6%-10.7%-5.7%
7/22/2025-1.2%2.8%-8.6%
4/23/2025-0.2%-3.2%7.5%
2/18/2025-2.0%-9.2%-8.4%
10/22/20240.9%0.3%18.1%
7/23/20241.2%-0.9%-7.8%
...
SUMMARY STATS   
# Positive101012
# Negative141412
Median Positive2.2%4.7%16.8%
Median Negative-2.9%-3.8%-6.7%
Max Positive8.6%17.4%41.1%
Max Negative-14.7%-10.7%-20.9%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/6/2026-3.8%-0.1%-6.6%
2/24/2026-1.5%6.7%21.7%
10/21/2025-9.6%-10.7%-5.7%
7/22/2025-1.2%2.8%-8.6%
4/23/2025-0.2%-3.2%7.5%
2/18/2025-2.0%-9.2%-8.4%
10/22/20240.9%0.3%18.1%
7/23/20241.2%-0.9%-7.8%
4/23/20240.2%-4.4%-6.6%
2/20/20243.1%6.2%15.6%
10/24/2023-2.2%-1.8%-6.8%
7/25/2023-6.7%-0.5%7.7%
4/25/2023-3.5%-8.3%-0.4%
2/21/2023-9.8%-7.1%-20.9%
10/25/20220.5%1.0%-1.4%
7/26/20228.6%11.4%22.4%
4/26/2022-1.2%3.2%10.3%
2/22/20221.0%17.4%26.3%
10/26/2021-4.2%-5.3%-2.3%
7/27/20214.6%-2.7%-9.2%
4/29/20216.1%11.7%18.0%
2/24/2021-0.5%1.4%9.0%
10/28/2020-14.7%-10.4%41.1%
7/29/20203.2%-1.0%6.4%
SUMMARY STATS   
# Positive101012
# Negative141412
Median Positive2.2%4.7%16.8%
Median Negative-2.9%-3.8%-6.7%
Max Positive8.6%17.4%41.1%
Max Negative-14.7%-10.7%-20.9%

SEC Filings

Expand for More
Report DateFiling DateFiling
03/31/202605/08/202610-Q
12/31/202502/26/202610-K
09/30/202510/24/202510-Q
06/30/202507/25/202510-Q
03/31/202504/28/202510-Q
12/31/202402/25/202510-K
09/30/202410/25/202410-Q
06/30/202407/26/202410-Q
03/31/202404/26/202410-Q
12/31/202302/27/202410-K
09/30/202310/27/202310-Q
06/30/202307/28/202310-Q
03/31/202304/28/202310-Q
12/31/202203/01/202310-K
09/30/202210/28/202210-Q
06/30/202207/29/202210-Q
Collapse to Preview
Report DateFiling DateFiling
03/31/202605/08/202610-Q
12/31/202502/26/202610-K
09/30/202510/24/202510-Q
06/30/202507/25/202510-Q
03/31/202504/28/202510-Q
12/31/202402/25/202510-K
09/30/202410/25/202410-Q
06/30/202407/26/202410-Q
03/31/202404/26/202410-Q
12/31/202302/27/202410-K
09/30/202310/27/202310-Q
06/30/202307/28/202310-Q
03/31/202304/28/202310-Q
12/31/202203/01/202310-K
09/30/202210/28/202210-Q
06/30/202207/29/202210-Q
03/31/202204/29/202210-Q
12/31/202102/28/202210-K
09/30/202110/29/202110-Q
06/30/202107/30/202110-Q
03/31/202104/30/202110-Q
12/31/202002/26/202110-K
09/30/202010/30/202010-Q
06/30/202007/31/202010-Q
03/31/202005/01/202010-Q
12/31/201903/02/202010-K
09/30/201911/01/201910-Q
06/30/201908/02/201910-Q

Recent Forward Guidance

Updated 6/1/2026

Latest: Q1 2026 Earnings Reported 5/6/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q2 2026 Average Daily Oil Production0.12 Mil0.12 Mil0.12 Mil   
Q2 2026 Average Daily Total Production0.21 Mil0.21 Mil0.21 Mil   
Q2 2026 Capital Expenditures430.00 Mil445.00 Mil460.00 Mil   
2026 Oil Production0.12 Mil0.12 Mil0.12 Mil0.8% RaisedGuidance: 0.12 Mil for 2026
2026 Total Oil Equivalent Production0.21 Mil0.21 Mil0.22 Mil0.5% RaisedGuidance: 0.21 Mil for 2026
2026 Total operating expenses per BOE313233   
2026 Current income taxes00.010.01   

Prior: Q4 2025 Earnings Reported 2/24/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q1 2026 Total Production 0.20 Mil -1.7% LoweredGuidance: 0.21 Mil for Q4 2025
Q1 2026 Oil Production 0.12 Mil -2.9% LoweredGuidance: 0.12 Mil for Q4 2025
Q1 2026 Natural Gas Production 520.00 Mil 0.2% RaisedGuidance: 519.00 Mil for Q4 2025
2026 Oil Equivalent Production 0.21 Mil 1.1% RaisedGuidance: 0.21 Mil for 2026
2026 Total CapEx 1.50 Bil -10.4% LoweredActual: 1.68 Bil for 2025
2026 Oil Production Growth 3.5% 0 AffirmedGuidance: 3.5% for 2026
2026 Total CapEx Change -0.1 0 AffirmedGuidance: -0.1 for 2026

Insider Activity

Updated 6/17/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Baty, Robert Gaines DirectBuy617202651.4450025,7203,988,555Form
2Stetson, Glenn WEVP and COODirectBuy611202653.4150026,7055,099,053Form
3Foran, Joseph WMChairman and CEODirectBuy611202653.072,000106,140609,191Form
4Ehrman, Monika U DirectBuy610202655.2836220,0112,312,086Form
5Foran, Joseph WMChairman and CEODirectBuy608202656.252,000112,500533,194Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Baty, Robert Gaines DirectBuy617202651.4450025,7203,988,555Form
2Stetson, Glenn WEVP and COODirectBuy611202653.4150026,7055,099,053Form
3Foran, Joseph WMChairman and CEODirectBuy611202653.072,000106,140609,191Form
4Ehrman, Monika U DirectBuy610202655.2836220,0112,312,086Form
5Foran, Joseph WMChairman and CEODirectBuy608202656.252,000112,500533,194Form
6Colodney, Benjamin TSVP & Chief Accounting OfficerRepresents shares held of record by the reporting person's 401(k) accountBuy602202653.4125013,352141,536Form
7Calvert, Christopher PEVP and CFORepresents shares held of record by the reporting person's 401(k) accountBuy602202653.241,50079,8602,209,460Form
8Foran, Joseph WMChairman and CEODirectBuy602202652.7048225,401394,143Form
9Stetson, Glenn WEVP and COODirectBuy601202653.9450026,9705,122,682Form
10Foran, Joseph WMChairman and CEODirectBuy528202652.364,675244,783366,363Form
11Ehrman, Monika U DirectBuy310202656.2926715,0292,333,952Form
12Foran, Joseph WMChairman and CEODirectBuy303202649.7846823,297115,589Form
13MacAlik, Robert TEVP, Chief Financial OfficerRepresents shares held of record by the reporting person's Individual Retirement AccountBuy1110202538.251,50057,3751,340,242Form
14Singleton, Van H IICoPresident-Land, A&D,PlanningDirectBuy1110202538.2850019,14011,212,901Form
15Foran, Joseph WMChairman and CEODirectBuy1110202538.141,00038,140910,287Form
16Appel, Shelley F Represents shares held of record by the reporting person's Roth Individual Retirement Account.Buy1106202538.101897,201193,700Form
17Appel, Shelley F Represents shares held of record by the reporting person's Roth 401(k) account.Buy1106202538.001,20045,600127,300Form
18Appel, Shelley F DirectBuy1106202537.521,33850,2022,508,550Form
19Appel, Shelley F Represents shares held of record by the reporting person's Roth Individual Retirement Account.Buy1106202537.551535,745183,807Form
20Baribault, Reynald Represents shares held of record by the reporting person's Individual Retirement Account.Buy1106202538.4940015,396266,158Form
21Foran, Joseph WMChairman and CEODirectBuy1106202538.444,000153,760879,007Form
22Ward, Susan M DirectBuy1105202539.045,000195,200582,594Form
23Calvert, Christopher PEVP and COORepresents shares held of record by the reporting person's 401(k) accountBuy1105202539.442,50098,6001,577,600Form
24Singleton, Van H IICoPresident-Land, A&D,PlanningDirectBuy1105202539.461,00039,46011,538,814Form
25Baty, Robert Gaines DirectBuy1104202539.5150019,7552,899,876Form
26Elsener, William ThomasEVP, Reservoir EngineeringDirectBuy1104202539.5160023,7064,451,552Form
27MacAlik, Robert TEVP, Chief Financial OfficerRepresents shares held of record by the reporting person's Individual Retirement AccountBuy1104202539.401,03940,9371,321,437Form
28Erman, Bryan ACo-President,CLO & Head of M&ADirectBuy1104202539.601,00039,6003,069,713Form
29Appel, Shelley F DirectBuy1103202539.2551020,0182,571,699Form
30Appel, Shelley F DirectBuy1103202539.3063624,9952,554,932Form
31Foran, Joseph WMChairman and CEODirectBuy1103202539.301,34252,741741,473Form
32Colodney, Benjamin TVP & Chief Accounting OfficerDirectBuy1103202539.351003,935387,204Form
33Harvey, Paul W See footnoteBuy1103202540.3080032,240635,410Form
34Stetson, Glenn WEVP-ProductionDirectBuy1103202539.9570027,9653,781,347Form
35Appel, Shelley F DirectBuy1103202539.901,55562,0442,568,562Form
36Appel, Shelley F See footnoteBuy1103202539.851,78471,09271,092Form
37Foran, Joseph WMChairman and CEODirectBuy1103202539.789,500377,910697,144Form
38Stetson, Glenn WEVP-ProductionDirectBuy916202548.5250024,2604,558,551Form
39Erman, Bryan ACo-President,CLO & Head of M&ARepresents shares held of record by the reporting person's 401(k) accountBuy916202547.9950023,995203,958Form
40Colodney, Benjamin TVP & Chief Accounting OfficerRepresents shares held of record by the reporting person's 401(k) accountBuy915202547.891306,226114,936Form
41Lambert, William DEVP and CFORepresents shares held of record by the reporting person's Individual Retirement AccountBuy915202548.041507,20631,226Form
42Calvert, Christopher PEVP and COORepresents shares held of record by the reporting person's 401(k) accountBuy915202547.771,00047,7701,791,375Form
43Foran, Joseph WMChairman and CEODirectBuy915202548.152,00096,300386,404Form
44Elsener, William ThomasEVP, Reservoir EngineeringDirectBuy915202548.4660029,0765,430,864Form
45Ehrman, Monika U DirectBuy909202547.0425011,7601,937,860Form
46Foran, Joseph WMChairman and CEODirectBuy821202546.252,00092,500398,028Form
47Foran, Joseph WMChairman and CEODirectBuy805202549.175,000245,850324,817Form
Core Cache Last Updated: 6/25/2026