DALLAS (AP) _ Matador Resources Co. (MTDR) on Tuesday reported third-quarter earnings of $44 million.
On a per-share basis, the Dallas-based company said it had net income of 38 cents. Earnings, adjusted for non-recurring gains, were 32 cents per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share.
The independent oil and gas company posted revenue of $279.4 million in the period, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $231 million.
Matador shares have fallen nearly 5% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $14.78, a drop of 47% in the last 12 months.