Dallas, Texas 11/11/2013 (Financialstrend) – Matador Resources Co.(NYSE:MTDR) exciting performance in the third quarter of the bring in has attracted investors- both the retailers and the big institutions.
Matador Resources has cashed in on the recent buoyancy in the oil and natural gas industry and closed third quarter revenue well above expectations. Additionally, it has reported $0.35 earnings on every share for the quarter. This is ahead of industry estimates by $0.01. The fourth quarter guidance, pegged at $1.10 earnings per share has attracted both small and large-sized investors.
Matador Resources currently explores, develops and acquires oil as well as natural gas sites, resources in various parts of United States. In its recent spate of activity the company has acquired a presence in shale plays as well as other unconventional resource sites. Most earnings for the company are primary derived from Eagle Ford shale play, in the South Texas region.
Matador Resources also has extensive plays in the Wolfcamp and Bone Spring plays off the Permian Basin around the Southeast parts of New Mexico and some parts of West Texas. Additionally, some of Matador’s operations around Haynesville shale, followed by Cotton Valley plays too are believed to be paying much dividends for the Oil and natural gas major. The latter play is located off the Northwest Louisiana and East Texas regions.
At close of trading on Nov 8, shares closed at $20.42 an increase of $1.43, and an overall increase of 7.53%. Matador Resources has a market cap of 1.31 billion and has moved between $7.57, 52-week low and a 52-week high of $20.51 in comparison, competitors in the field such as EOG Resources Inc. saw a fall in prices while Chesapeake Energy closed at slight increase of 1.22% on Friday.
Across the industry, most of the oil and natural gas majors were known to record positive closes, with the exception of EOG and Forest Oil Corporation (NYSE:FST), showing negative close for Friday, Nov 8.