Brokerages Set Matador Resources (NYSE:MTDR) Target Price at $74.38

Matador Resources (NYSE:MTDR) has received a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $74.38.

Several equities research analysts have recently issued reports on the stock. Truist Financial lowered their target price on shares of Matador Resources from $86.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. TD Cowen increased their price target on Matador Resources from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. KeyCorp dropped their price objective on Matador Resources from $76.00 to $72.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Mizuho reduced their target price on Matador Resources from $74.00 to $73.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $70.00 price target on shares of Matador Resources in a research note on Friday, December 6th.

Matador Resources Price Performance

NYSE:MTDR opened at $54.16 on Friday. The firm’s fifty day moving average is $55.59 and its two-hundred day moving average is $56.04. The firm has a market cap of $6.76 billion, a price-to-earnings ratio of 7.17 and a beta of 3.26. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.88. Matador Resources has a one year low of $47.15 and a one year high of $71.08.

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

Matador Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 15th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 15th. 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 yield of 1.85%. Matador Resources’s payout ratio is 13.25%.

Insider Buying and Selling at Matador Resources

In other Matador Resources news, EVP William Thomas Elsener acquired 800 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average cost of $56.60 per share, with a total value of $45,280.00. Following the transaction, the executive vice president now owns 102,964 shares of the company’s stock, valued at $5,827,762.40. This trade represents a 0.78 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Joseph Wm Foran purchased 2,000 shares of Matador Resources stock in a transaction dated Friday, December 6th. The stock was bought at an average cost of $55.18 per share, for a total transaction of $110,360.00. Following the completion of the purchase, the chief executive officer now directly owns 42,251 shares in the company, valued at approximately $2,331,410.18. This trade represents a 4.97 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 4,285 shares of company stock worth $232,849 in the last ninety days. 6.10% of the stock is owned by insiders.

Institutional Trading of Matador Resources

A number of institutional investors and hedge funds have recently bought and sold shares of MTDR. Raymond James Trust N.A. increased its position in shares of Matador Resources by 3.6% during the second quarter. Raymond James Trust N.A. now owns 5,714 shares of the energy company’s stock worth $341,000 after acquiring an additional 198 shares during the period. ClearAlpha Technologies LP grew its stake in Matador Resources by 4.3% during the 3rd quarter. ClearAlpha Technologies LP now owns 5,250 shares of the energy company’s stock worth $259,000 after purchasing an additional 218 shares in the last quarter. Fifth Third Bancorp increased its holdings in 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 purchasing an additional 243 shares during the period. Quarry LP raised its position in Matador Resources by 47.5% in the 2nd quarter. Quarry LP now owns 779 shares of the energy company’s stock valued at $46,000 after purchasing an additional 251 shares in the last quarter. Finally, Greenleaf Trust boosted its stake in shares of Matador Resources by 3.8% in the 3rd quarter. Greenleaf Trust now owns 7,086 shares of the energy company’s stock valued at $350,000 after buying an additional 260 shares during the period. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

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.