Matador: 3Q Earnings Snapshot

Matador: 3Q Earnings Snapshot

Associated Press
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DALLAS (AP) _ Matador Resources Co. (MTDR) on Wednesday reported third-quarter profit of $17.8 million.

On a per-share basis, the Dallas-based company said it had profit of 15 cents. Earnings, adjusted for non-recurring costs, were 48 cents per share.

The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.

The independent oil and gas company posted revenue of $207.2 million in the period, which missed Street forecasts. Nine analysts surveyed by Zacks expected $208.2 million.

Matador shares have declined 6 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $29.27, an increase of 10 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MTDR at https://www.zacks.com/ap/MTDR

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