Analysts Set Matador Resources (NYSE:MTDR) Price Target at $74.92

Shares of Matador Resources (NYSE:MTDR) have been given an average rating of “Moderate Buy” by the fourteen ratings firms that are covering the company, 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 1 year price objective among brokers that have updated their coverage on the stock in the last year is $74.92.

Several brokerages have recently issued reports on MTDR. BMO Capital Markets upped their price target on shares of Matador Resources from $75.00 to $78.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. JPMorgan Chase & Co. lowered their target price on Matador Resources from $77.00 to $71.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Truist Financial cut their price target on Matador Resources from $86.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Wolfe Research assumed coverage on Matador Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, TD Cowen raised their price objective on shares of Matador Resources from $85.00 to $87.00 and gave the company a “buy” rating in a report on Wednesday, July 24th.

Matador Resources Stock Up 2.4 %

Shares of NYSE MTDR opened at $52.81 on Friday. Matador Resources has a 52 week low of $47.15 and a 52 week high of $71.08. The stock’s fifty day moving average is $52.23 and its 200 day moving average is $57.46. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.88. The stock has a market capitalization of $6.59 billion, a P/E ratio of 6.99 and a beta of 3.26.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Tuesday, October 22nd. The energy company reported $1.89 EPS for the quarter, beating the consensus estimate of $1.78 by $0.11. The business had revenue of $770.20 million during the quarter, compared to the consensus estimate of $836.69 million. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The company’s revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.86 earnings per share. Sell-side analysts forecast that Matador Resources will post 7.45 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The company also recently announced 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 is a boost from Matador Resources’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Friday, November 15th. Matador Resources’s dividend payout ratio (DPR) is currently 13.25%.

Insiders Place Their Bets

In other Matador Resources news, EVP Bryan A. Erman bought 1,000 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average price of $50.35 per share, for a total transaction of $50,350.00. Following the acquisition, the executive vice president now directly owns 2,750 shares of the company’s stock, valued at approximately $138,462.50. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Robert T. Macalik bought 500 shares of the stock in a transaction dated Friday, September 6th. The stock was bought at an average price of $50.25 per share, for a total transaction of $25,125.00. Following the completion of the acquisition, the chief accounting officer now directly owns 29,800 shares in the company, valued at approximately $1,497,450. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Bryan A. Erman purchased 1,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average cost of $50.35 per share, for a total transaction of $50,350.00. Following the completion of the transaction, the executive vice president now directly owns 2,750 shares of the company’s stock, valued at $138,462.50. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 11,105 shares of company stock worth $562,306. Insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MTDR. Denver PWM LLC bought a new position in Matador Resources during the second quarter valued at $27,000. Covestor Ltd grew its stake 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 during the period. Quarry LP increased its holdings in Matador Resources by 47.5% in the 2nd quarter. Quarry LP now owns 779 shares of the energy company’s stock worth $46,000 after acquiring an additional 251 shares during the last quarter. Advisors Asset Management Inc. raised its stake in Matador Resources by 191.8% in the 1st quarter. Advisors Asset Management Inc. now owns 709 shares of the energy company’s stock valued at $47,000 after acquiring an additional 466 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Matador Resources by 28.7% during the third quarter. GAMMA Investing LLC now owns 1,403 shares of the energy company’s stock valued at $69,000 after purchasing an additional 313 shares during the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

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.