Matador Resources (MTDR)
Drills Wolfcamp and Bone Spring acreage in the Delaware Basin and shares a midstream joint venture.
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Explores for, develops, and produces oil and gas concentrated in the Wolfcamp and Bone Spring plays of the Delaware Basin in southeast New Mexico and west Texas, with legacy gas acreage in northwest Louisiana. A majority-owned midstream joint venture gathers and processes gas, oil, and produced water for its own wells and outside operators.
Explores for, develops, and produces oil and natural gas concentrated in the Wolfcamp and Bone Spring plays of the Delaware Basin, across southeast New Mexico and west Texas. Legacy gas acreage sits in northwest Louisiana; a former Eagle Ford position was divested.
Growth has come mainly through bolt-on acquisitions of adjacent Delaware Basin acreage from private-equity-backed sellers, a strategy pursued since the company's 2012 listing. Founder Joseph Wm. Foran has led it continuously since founding in 2003.
A majority-owned midstream joint venture with a private infrastructure partner gathers, treats, and processes natural gas, oil, and produced water, serving both its own wells and outside Delaware Basin producers, and has itself grown through acquisitions of additional gathering and processing assets.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 15, 2026 | KeyBanc | Reiterate | Rating: —Target: $68 | Target: $73 |
| Sep 14, 2026 | UBS | Reiterate | Rating: —Target: $54 | Target: $64 |
| Sep 9, 2026 | Stifel Nicolaus | Target | Target: — | Target: $66 |
| Sep 2, 2026 | Seaport Global | Initiate | Rating: — | |
| Sep 2, 2026 | Wells Fargo | Upgrade | Target: $79 | Target: $77 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $26.3M · Total debt $3.30B · Total assets $13.49B · Shareholders' equity $5.93B
- Revenue
- $1.19B
- Operating income
- $577.3M
- Net income
- $390.7M
HistoryDividendAnnual yield
| Institutions | 97.78% | 121.42M shares | |
|---|---|---|---|
| 515 holders · as of Jun 30, 2026 | |||
| Insiders | 1.39% | 1.72M shares | |
| 20 holders · as of Aug 31, 2026 | |||
| Strategic holders | 11.05% | 13.73M shares | |
| 1 holder · as of Jan 20, 2023 | |||
| Adds to | 110.22% | ||
124.18M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
These groups come from separate filings that can overlap, so they add to 110.22%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Strategic | 11.05% | 13.73M | filed Jan 20, 2023 |
BlackRock, Inc.Institution | 9.28% | 11.53M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 6.55% | 8.13M | as of Jun 30, 2026 |
Dimensional Fund Advisors LPInstitution | 5.71% | 7.09M | as of Jun 30, 2026 |
State Street CorpInstitution | 4.22% | 5.24M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 27, 2026 | Christopher P. Calvert | officer: EVP and CFO | +2,500 | $56.64 |
| Aug 26, 2026 | Joseph Wm Foran | director, officer: Chairman and CEO | +555 | $54.49 |
| Aug 17, 2026 | Joseph Wm Foran | director, officer: Chairman and CEO | +400 | $53.64 |
| Aug 13, 2026 | Joseph Wm Foran | director, officer: Chairman and CEO | +5,000 | $51.44 |
| Aug 12, 2026 | Joseph Wm Foran | director, officer: Chairman and CEO | +10,000 | $52.16 |
- Permian Resources
Delaware Basin pure-play running a near-identical bolt-on strategy
- Diamondback Energy
Dominant Permian pure-play with a large secondary Delaware Basin position
- Devon Energy
Newly enlarged Delaware Basin anchor after completing the Coterra merger
- APA
Similar-scale Permian producer diversified into Egypt and Suriname
- Comstock Resources
Haynesville shale gas pure-play overlapping the legacy Louisiana position
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Matador Resources | $52.93 | +2.06% | $6.44B | 8.9 | 6.5 | 1.7 | +28.2% |
| Permian Resources | $21.86 | +2.68% | $17.83B | 14.1 | 9.8 | 3.1 | +55.2% |
| Diamondback Energy | $186.98 | +1.34% | $51.90B | 36.0 | 9.7 | 3.0 | +32.1% |
| Devon Energy | $48.52 | +3.39% | $51.62B | 11.1 | 9.6 | 2.6 | +83.2% |
| APA | $43.98 | +3.97% | $14.95B | 8.9 | 8.9 | 1.7 | +10.2% |
| Comstock Resources | $13.64 | +2.36% | $3.91B | 7.7 | 36.7 | 2.1 | −24.9% |
| Median | 11.1 | 9.7 | 2.6 | +32.1% |