Matador Resources (NYSE:MTDR) Stock Price Expected to Rise, Truist Financial Analyst Says

Matador Resources (NYSE:MTDR) had its price target upped by Truist Financial from $75.00 to $80.00 in a research note issued to investors on Monday,Benzinga reports. Truist Financial currently has a buy rating on the energy company’s stock.

A number of other equities analysts have also commented on MTDR. Wolfe Research raised shares of Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 price target on the stock in a research report on Friday, January 3rd. Mizuho lowered their target price on shares of Matador Resources from $74.00 to $73.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Wells Fargo & Company boosted their price target on Matador Resources from $87.00 to $91.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. JPMorgan Chase & Co. lowered their price objective on Matador Resources from $77.00 to $71.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Finally, TD Cowen upped their target price on Matador Resources from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $75.14.

Matador Resources Trading Up 1.2 %

Shares of MTDR stock opened at $61.97 on Monday. Matador Resources has a 12-month low of $47.15 and a 12-month high of $71.08. The company has a market capitalization of $7.73 billion, a PE ratio of 8.21 and a beta of 3.24. The firm has a 50 day moving average price of $57.16 and a two-hundred day moving average price of $55.99. The company has a quick ratio of 0.84, a current ratio of 0.88 and a debt-to-equity ratio of 0.71.

Matador Resources (NYSE:MTDR) last released its quarterly earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.11. The business had revenue of $770.20 million during the quarter, compared to analysts’ expectations of $836.69 million. Matador Resources had a return on equity of 20.01% and a net margin of 27.45%. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the firm posted $1.86 EPS. As a group, analysts predict that Matador Resources will post 7.49 earnings per share for the current year.

Matador Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 15th were paid a $0.25 dividend. This is an increase 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 1.61%. The ex-dividend date of this dividend was Friday, November 15th. Matador Resources’s dividend payout ratio (DPR) is presently 13.25%.

Insider Buying and Selling

In other news, EVP Glenn W. Stetson acquired 1,000 shares of Matador Resources stock in a transaction that occurred on Wednesday, October 30th. The shares were acquired at an average price of $51.33 per share, for a total transaction of $51,330.00. Following the transaction, the executive vice president now directly owns 85,935 shares of the company’s stock, valued at approximately $4,411,043.55. The trade was a 1.18 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP William Thomas Elsener bought 800 shares of the company’s stock in a transaction on Friday, December 13th. The stock was purchased at an average price of $56.60 per share, with a total value of $45,280.00. Following the completion of the transaction, the executive vice president now directly owns 102,964 shares of the company’s stock, valued at approximately $5,827,762.40. The trade was a 0.78 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 4,285 shares of company stock worth $232,849 in the last three months. 6.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Matador Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its stake in shares of Matador Resources by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 4,734,819 shares of the energy company’s stock worth $282,196,000 after purchasing an additional 356,506 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Matador Resources by 2.7% in the 3rd quarter. Victory Capital Management Inc. now owns 2,752,102 shares of the energy company’s stock valued at $136,009,000 after buying an additional 72,077 shares during the last quarter. Clearbridge Investments LLC increased its stake in shares of Matador Resources by 10.5% in the second quarter. Clearbridge Investments LLC now owns 2,250,036 shares of the energy company’s stock valued at $134,102,000 after buying an additional 214,334 shares during the period. Geode Capital Management LLC raised its position in shares of Matador Resources by 1.9% during the third quarter. Geode Capital Management LLC now owns 2,008,730 shares of the energy company’s stock worth $99,297,000 after acquiring an additional 36,921 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Matador Resources by 4.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,434,926 shares of the energy company’s stock worth $70,914,000 after acquiring an additional 57,254 shares during the period. 91.98% of the stock is currently 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.