Matador Resources Q2 profit beat estimates, raises 2026 production outlook

Matador Resources

05/08/2026 21:34

Overview
U.S. oil and gas producer's Q2 adjusted EPS and net income beat analyst expectations
Company raised full-year 2026 production guidance after record oil output in Q2
Matador executed multiple acquisitions, expanding drilling inventory and midstream operations

Outlook
Matador raises full-year 2026 oil production guidance to 127,500-129,000 barrels per day
Company expects Q3 2026 oil production of 128,500-130,500 barrels per day
Matador projects improved realized natural gas prices for remainder of 2026

Result Drivers
RECORD OIL PRODUCTION - Co said it delivered record average oil production of 126,106 barrels per day in Q2, exceeding its expected range despite external headwinds and oil volume shut-ins
WELL PERFORMANCE - Outperformance of new wells, including first 3.4-mile lateral wells, drove better-than-expected oil and natural gas production
HIGHER REALIZED OIL PRICES - Realized oil prices rose 53% year-over-year to $98.16 per barrel, supporting revenue growth

Company press release: ID:nBwb7Qskqa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Adjusted EPS
Beat
$2.61
$2.09 (17 Analysts)
Q2 Adjusted Net Income
Beat
$324.60 mln
$253.70 mln (15 Analysts)
Q2 Adjusted Free Cash Flow
 
$303.20 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 17 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the oil & gas exploration and production peer group is "buy"
Wall Street's median 12-month price target for Matador Resources Company is $69.00, about 41.4% above its August 4 closing price of $48.80
The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 9 three months ago

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Aug 3 - War-fueled oil rally set to lift shale profits to highest since 2022

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)