Matador: 2Q Earnings Snapshot
DALLAS (AP) _ Matador Resources Co. (MTDR) on Wednesday reported second-quarter profit of $59.8 million.
The Dallas-based company said it had net income of 53 cents per share. Earnings, adjusted for non-recurring gains, came to 41 cents per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share.
The independent oil and gas company posted revenue of $211.4 million in the period, which also beat Street forecasts. Eight analysts surveyed by Zacks expected $183.5 million.
Matador shares have risen nearly 7 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $33.18, a climb of 38 percent in the last 12 months.