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Matador tops Street 1Q forecasts

DALLAS (AP) _ Matador Resources Co. (MTDR) on Wednesday reported first-quarter net income of $44 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Dallas-based company said it had net income of 44 cents. Earnings, adjusted for non-recurring gains, were 17 cents per share.

The results beat Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 10 cents per share.

The independent oil and gas company posted revenue of $134.8 million in the period, which also topped Street forecasts. Eight analysts surveyed by Zacks expected $106.1 million.

Matador shares have declined 15 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $21.88, an increase of 5 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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Keywords: Matador Resources, Earnings Report