The Hugh Brinson pipeline commissioning is a structural catalyst for natural gas realizations, adding an estimated $90M annual revenue per $0.50/MMBtu improvement. Watch Q4 production guidance of 238,000-242,000 BOE/d (including Paloma/Ridge Runner contributions) and the Marlan processing plant expansion, which underpins midstream EBITDA growth toward $400M for full year 2026.
How the stock moved after the report
BULLISH VIEWSTOCK BELOW ENTRY AT T+1- T+0 · Nov 3 $50.37entry
- T+1 · yesterday −0.99%α +3.42% · $49.87
- T+2 · todayOpen
- T+5 · in 4d Pending
- T+20 · in 26d Pending
- T+60 · in 3mo Pending
Price Chart
How similar events traded
Executive Summary
Matador Resources reported Q3 2026 results with record oil production of 132,019 bbl/d, total production of 230,470 BOE/d (10% YoY increase, 3% above guidance midpoint), and oil & gas revenues of $1.22B (+51% YoY). The company raised full-year 2026 production guidance, announced an 17% dividend increase to $1.75/share, and repaid $150M in debt in October. Adjusted EPS of $2.08 beat the $1.82 consensus by 14.3%.
Key Financial Metrics
Key Facts
- Q3 2026 total production 230,470 BOE/d, up 10% YoY and 3% above guidance midpoint of 224,000 BOE/d
- Record oil production of 132,019 bbl/d, up 10% YoY
- Oil & gas revenues $1.22B, up 51% from $810M in Q3 2025
- Adjusted EPS $2.08 vs consensus $1.82 (beat by 14.3%)
- Adjusted EBITDA $738.3M vs $566.5M in Q3 2025 (+30%)
- Adjusted free cash flow $287.6M vs $93.4M in Q3 2025 (+208%)
- Full-year 2026 production guidance raised to 223,000-224,000 BOE/d from 218,500-223,500
- Annual dividend increased 17% to $1.75/share
- $150M debt repaid in October 2026; leverage ratio expected to approach 1.5x by year-end
- Hugh Brinson pipeline commissioned Sept 1, 2026; natural gas realizations improved to $2.99/Mcf from negative $0.79 in Q2 2026
- CapEx $381M, 10% below guidance midpoint and 19% below Q3 2025
- Proved reserves increased 16% to 771M BOE from 667M at Dec 2025
Financial Impact
Q3 2026 oil & gas revenues $1.22B (+51% YoY); adjusted EPS $2.08 (+53% YoY); adjusted free cash flow $287.6M (+208% YoY)
Risk Factors
- Commodity price volatility, particularly oil price decline from Q3 realized $87.25/bbl
- Higher operating expenses of $33.67/BOE vs guidance midpoint, driven by midstream costs from Cardinal acquisition
- Derivative losses of $160.2M realized and $67.7M unrealized in Q3
- Integration risks from multiple 2026 acquisitions (Cardinal, Paloma, Ridge Runner)
- Increased midstream CapEx guidance ($170-190M from $145-165M) for Marlan plant expansion
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001520006-26-000055 |
| Document: mtdr-20261103.htm | 0001520006-26-000055 |
| Document: 0001520006-26-000055-index-headers.html | 0001520006-26-000055 |
| Document: 0001520006-26-000055-index.html | 0001520006-26-000055 |
| Document: 0001520006-26-000055.txt | 0001520006-26-000055 |
| 8-K Data (Synthetic) | 0001520006-26-000055 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Nov 5, 2026 today | Insider Cluster | $51.32 | awaiting T+5 | awaiting T+5 | $49.87 (−2.83%) |
Nov 3, 2026 2d ago | 8-K | $50.37 | awaiting T+5 | awaiting T+5 | $49.87 (−0.99%) |
Oct 21, 2026 15d ago | 8-K | $56.79 $59.83 | ▲ +5.35% | ▲ +4.65% | $49.87 (−12.19%) |
Oct 5, 2026 4w ago | 8-K | $53.01 $55.11 | ▲ +3.96% | ▲ +3.54% | $49.87 (−5.92%) |
Aug 31, 2026 9w ago | Insider Cluster | $58.01 $59.77 | ▲ +3.03% | ▲ +3.18% | $49.87 (−14.03%) |
Aug 14, 2026 11w ago | Insider Cluster | $53.69 $58.38 | ▲ +8.74% | ▲ +10.10% | $49.87 (−7.11%) |
Aug 12, 2026 12w ago | Insider Cluster | $52.51 $58.00 | ▲ +10.46% | ▲ +10.90% | $49.87 (−5.03%) |
Jul 24, 2026 14w ago | 8-K | $50.81 $48.31 | ▼ −4.92% | ▼ −5.29% | $49.87 (−1.85%) |
Jun 17, 2026 20w ago | Insider Cluster | $49.56 $50.16 | ▲ +1.21% | ▲ +2.88% | $49.87 (+0.63%) |
Jun 16, 2026 20w ago | 8-K | $50.40 $50.09 | ▼ −0.62% | ▲ +0.43% | $49.87 (−1.05%) |
US Market Status
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