Matador Resources (NYSE:MTDR) PT Raised to $78.00 at Stephens

Matador Resources (NYSE:MTDR) had its price target lifted by Stephens from $76.00 to $78.00 in a research report released on Monday, Benzinga reports. The brokerage currently has an overweight rating on the energy company’s stock.

A number of other equities research analysts also recently weighed in on the company. Wolfe Research initiated coverage on Matador Resources in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Truist Financial lowered their price target on Matador Resources from $86.00 to $75.00 and set a “buy” rating for the company in a report on Monday, September 30th. Mizuho lowered their price target on Matador Resources from $85.00 to $74.00 and set an “outperform” rating for the company in a report on Monday, September 16th. 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, Royal Bank of Canada restated an “outperform” rating and issued a $75.00 price objective on shares of Matador Resources in a research note on Friday, September 27th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.69.

Matador Resources Price Performance

Shares of MTDR stock opened at $50.81 on Monday. Matador Resources has a twelve month low of $47.15 and a twelve month high of $71.08. The stock has a market capitalization of $6.34 billion, a price-to-earnings ratio of 6.96 and a beta of 3.26. The stock has a fifty day simple moving average of $53.14 and a two-hundred day simple moving average of $58.55. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 0.41.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings data on Tuesday, July 23rd. The energy company reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.29. Matador Resources had a return on equity of 21.12% and a net margin of 29.01%. The company had revenue of $847.14 million for the quarter, compared to the consensus estimate of $822.55 million. During the same quarter last year, the company earned $1.42 earnings per share. The firm’s revenue for the quarter was up 32.8% compared to the same quarter last year. On average, analysts predict that Matador Resources will post 7.4 EPS for the current fiscal year.

Matador Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Friday, November 15th. This is an increase from Matador Resources’s previous quarterly dividend of $0.20. Matador Resources’s payout ratio is currently 13.70%.

Insider Activity at Matador Resources

In other news, CEO Joseph Wm Foran acquired 2,500 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average price of $51.47 per share, for a total transaction of $128,675.00. Following the acquisition, the chief executive officer now owns 37,751 shares of the company’s stock, valued at $1,943,043.97. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Brian J. Willey purchased 1,500 shares of the business’s stock in a transaction on Friday, September 6th. The shares were bought at an average price of $50.50 per share, for a total transaction of $75,750.00. Following the acquisition, the chief financial officer now directly owns 1,500 shares in the company, valued at $75,750. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Joseph Wm Foran purchased 2,500 shares of the business’s stock in a transaction on Friday, September 6th. The shares were bought at an average price of $51.47 per share, for a total transaction of $128,675.00. Following the acquisition, the chief executive officer now owns 37,751 shares in the company, valued at $1,943,043.97. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 12,300 shares of company stock worth $634,615. 6.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Denver PWM LLC acquired a new position in shares of Matador Resources during the 2nd quarter worth about $27,000. Covestor Ltd boosted its position in shares of Matador Resources by 121.4% during the 1st quarter. Covestor Ltd now owns 414 shares of the energy company’s stock worth $28,000 after acquiring an additional 227 shares in the last quarter. Quarry LP boosted its position in shares of Matador Resources by 47.5% during the 2nd quarter. Quarry LP now owns 779 shares of the energy company’s stock worth $46,000 after acquiring an additional 251 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of Matador Resources by 191.8% during the 1st quarter. Advisors Asset Management Inc. now owns 709 shares of the energy company’s stock worth $47,000 after acquiring an additional 466 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Matador Resources by 28.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,403 shares of the energy company’s stock worth $69,000 after acquiring an additional 313 shares in the last quarter. 91.98% of the stock is owned by institutional investors and hedge funds.

Matador Resources Company Profile

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.