Analysts Set Matador Resources (NYSE:MTDR) Price Target at $75.85

Matador Resources (NYSE:MTDR) has been assigned a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $75.85.

MTDR has been the subject of a number of recent research reports. Truist Financial decreased their price target on shares of Matador Resources from $86.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Stephens increased their target price on Matador Resources from $74.00 to $76.00 and gave the company an “overweight” rating in a report on Friday, September 27th. JPMorgan Chase & Co. lowered their price objective on Matador Resources from $83.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. Wells Fargo & Company lowered their price target on Matador Resources from $89.00 to $87.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Finally, TD Cowen raised their price objective on shares of Matador Resources from $85.00 to $87.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th.

Matador Resources Stock Performance

NYSE:MTDR opened at $54.19 on Tuesday. Matador Resources has a 52 week low of $47.15 and a 52 week high of $71.08. The company has a fifty day simple moving average of $53.45 and a two-hundred day simple moving average of $59.40. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 0.41. The company has a market cap of $6.76 billion, a price-to-earnings ratio of 7.42 and a beta of 3.26.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings results on Tuesday, July 23rd. The energy company reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.29. The company had revenue of $847.14 million for the quarter, compared to the consensus estimate of $822.55 million. Matador Resources had a return on equity of 21.12% and a net margin of 29.01%. Matador Resources’s revenue was up 32.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.42 EPS. As a group, equities analysts anticipate that Matador Resources will post 7.63 earnings per share for the current fiscal year.

Matador Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 15th were issued a dividend of $0.20 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.80 annualized dividend and a yield of 1.48%. Matador Resources’s dividend payout ratio is currently 10.96%.

Insider Activity at Matador Resources

In other Matador Resources news, CAO Robert T. Macalik bought 500 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was acquired at an average cost of $54.50 per share, with a total value of $27,250.00. Following the purchase, the chief accounting officer now owns 29,300 shares in the company, valued at approximately $1,596,850. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Joseph Wm Foran bought 2,000 shares of the stock in a transaction on Friday, August 2nd. The shares were bought at an average cost of $55.96 per share, for a total transaction of $111,920.00. Following the completion of the transaction, the chief executive officer now owns 35,251 shares of the company’s stock, valued at $1,972,645.96. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Robert T. Macalik bought 500 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was bought at an average cost of $54.50 per share, with a total value of $27,250.00. Following the completion of the acquisition, the chief accounting officer now owns 29,300 shares of the company’s stock, valued at $1,596,850. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 12,300 shares of company stock worth $634,615 over the last 90 days. Company insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Matador Resources

Several hedge funds have recently bought and sold shares of MTDR. CenterBook Partners LP acquired a new stake in Matador Resources in the fourth quarter valued at $440,000. Wasatch Advisors LP increased its holdings in Matador Resources by 20.8% during the 4th quarter. Wasatch Advisors LP now owns 1,096,882 shares of the energy company’s stock valued at $62,369,000 after acquiring an additional 188,741 shares in the last quarter. Goehring & Rozencwajg Associates LLC raised its position in Matador Resources by 3.7% during the fourth quarter. Goehring & Rozencwajg Associates LLC now owns 230,121 shares of the energy company’s stock worth $13,085,000 after acquiring an additional 8,215 shares during the last quarter. Burford Brothers Inc. acquired a new position in Matador Resources during the fourth quarter worth about $1,535,000. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Matador Resources by 31.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,206,041 shares of the energy company’s stock valued at $125,435,000 after purchasing an additional 531,504 shares in the last quarter. 91.98% of the stock is owned by hedge funds and other institutional investors.

About Matador Resources

Matador Resources Company, an independent energy company, engages in the exploration, development, production, and acquisition of oil and natural gas resources in the United States. It operates through two segments, Exploration and Production; and Midstream. The company primarily holds interests in the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas.