BMO Capital Markets Raises Matador Resources (NYSE:MTDR) Price Target to $78.00

Matador Resources (NYSE:MTDR) had its price objective upped by BMO Capital Markets from $75.00 to $78.00 in a research report released on Friday, Benzinga reports. They currently have an outperform rating on the energy company’s stock.

Other equities research analysts have also recently issued research reports about the stock. TD Cowen increased their target price on shares of Matador Resources from $85.00 to $87.00 and gave the company a buy rating in a research note on Wednesday, July 24th. Stephens raised their price objective on Matador Resources from $74.00 to $76.00 and gave the stock an overweight rating in a research report on Friday, September 27th. Capital One Financial raised Matador Resources from an equal weight rating to an overweight rating and lifted their price objective for the stock from $80.00 to $84.00 in a report on Thursday, July 25th. Royal Bank of Canada reaffirmed an outperform rating and issued a $75.00 target price on shares of Matador Resources in a research report on Friday, September 27th. Finally, Wells Fargo & Company decreased their price target on shares of Matador Resources from $89.00 to $87.00 and set an overweight rating on the stock in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Matador Resources presently has an average rating of Moderate Buy and a consensus target price of $75.85.

Matador Resources Stock Performance

NYSE MTDR traded up $0.65 during trading on Friday, hitting $54.08. The company’s stock had a trading volume of 1,426,131 shares, compared to its average volume of 1,510,834. Matador Resources has a 52 week low of $47.15 and a 52 week high of $71.08. The firm has a market cap of $6.75 billion, a P/E ratio of 7.41 and a beta of 3.26. The firm has a 50 day moving average price of $53.97 and a 200 day moving average price of $59.79. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 0.41.

Matador Resources (NYSE:MTDR) last announced its earnings results on Tuesday, July 23rd. The energy company reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.29. Matador Resources had a net margin of 29.01% and a return on equity of 21.12%. The business had revenue of $847.14 million for the quarter, compared to analyst estimates of $822.55 million. During the same quarter in the previous year, the firm posted $1.42 earnings per share. Matador Resources’s revenue was up 32.8% compared to the same quarter last year. Equities research analysts forecast that Matador Resources will post 7.63 earnings per share for the current fiscal year.

Matador Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date was Thursday, August 15th. Matador Resources’s dividend payout ratio (DPR) is currently 10.96%.

Insider Transactions at Matador Resources

In other Matador Resources news, CEO Joseph Wm Foran acquired 2,500 shares of the business’s stock in a transaction on Monday, September 9th. The stock was purchased at an average price of $49.97 per share, for a total transaction of $124,925.00. Following the transaction, the chief executive officer now owns 40,251 shares in the company, valued at $2,011,342.47. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Joseph Wm Foran bought 2,500 shares of the company’s stock in a transaction on Monday, September 9th. The stock was bought at an average cost of $49.97 per share, with a total value of $124,925.00. Following the completion of the purchase, the chief executive officer now owns 40,251 shares in the company, valued at approximately $2,011,342.47. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Robert T. Macalik purchased 500 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were bought at an average cost of $54.50 per share, for a total transaction of $27,250.00. Following the completion of the purchase, the chief accounting officer now directly owns 29,300 shares of the company’s stock, valued at $1,596,850. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 12,300 shares of company stock valued at $634,615 in the last three months. 6.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Matador Resources

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Essex Investment Management Co. LLC boosted its holdings in Matador Resources by 0.5% in the first quarter. Essex Investment Management Co. LLC now owns 37,532 shares of the energy company’s stock valued at $2,506,000 after acquiring an additional 169 shares during the last quarter. Securian Asset Management Inc. lifted its position in Matador Resources by 1.9% during the 2nd quarter. Securian Asset Management Inc. now owns 9,255 shares of the energy company’s stock valued at $552,000 after purchasing an additional 170 shares during the period. Raymond James Trust N.A. boosted its stake in shares of Matador Resources by 3.6% in the 2nd quarter. Raymond James Trust N.A. now owns 5,714 shares of the energy company’s stock valued at $341,000 after purchasing an additional 198 shares during the last quarter. Covestor Ltd grew 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 buying an additional 227 shares during the period. Finally, Fifth Third Bancorp grew its position in shares of Matador Resources by 16.6% during the 2nd quarter. Fifth Third Bancorp now owns 1,709 shares of the energy company’s stock worth $102,000 after buying an additional 243 shares during the period. 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.