Matador Resources (NYSE:MTDR) Receives $74.92 Consensus Price Target from Brokerages

Shares of Matador Resources (NYSE:MTDR) have been assigned an average rating of “Moderate Buy” from the fourteen analysts that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $74.92.

Several analysts have weighed in on MTDR shares. Stephens raised their price target on Matador Resources from $76.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, October 21st. TD Cowen raised 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. Capital One Financial raised shares of Matador Resources from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $80.00 to $84.00 in a research note on Thursday, July 25th. Wolfe Research initiated coverage on shares of Matador Resources in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, JPMorgan Chase & Co. cut their target price on shares of Matador Resources from $77.00 to $71.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th.

Matador Resources Price Performance

MTDR stock opened at $52.81 on Friday. The firm has a 50 day moving average of $52.23 and a 200-day moving average of $57.46. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $6.59 billion, a P/E ratio of 6.99 and a beta of 3.26. Matador Resources has a 12 month low of $47.15 and a 12 month high of $71.08.

Matador Resources (NYSE:MTDR) last released its quarterly earnings results on Tuesday, October 22nd. The energy company reported $1.89 EPS for the quarter, beating analysts’ consensus estimates 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 business earned $1.86 EPS. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, sell-side analysts predict that Matador Resources will post 7.45 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be paid a $0.25 dividend. 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. This is a positive change from Matador Resources’s previous quarterly dividend of $0.20. Matador Resources’s payout ratio is 13.25%.

Insider Buying and Selling

In other news, EVP Glenn W. Stetson bought 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were bought at an average cost of $51.33 per share, with a total value of $51,330.00. Following the completion of the purchase, the executive vice president now directly owns 85,935 shares in the company, valued at $4,411,043.55. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. In other Matador Resources news, EVP Glenn W. Stetson bought 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were bought at an average cost of $51.33 per share, with a total value of $51,330.00. Following the completion of the purchase, the executive vice president now directly owns 85,935 shares of the company’s stock, valued at $4,411,043.55. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Brian J. Willey purchased 1,500 shares of the stock in a transaction on Friday, September 6th. The shares were acquired at an average cost of $50.50 per share, with a total value of $75,750.00. Following the transaction, the chief financial officer now directly owns 1,500 shares in the company, valued at $75,750. The disclosure for this purchase can be found here. Insiders have purchased a total of 11,105 shares of company stock worth $562,306 in the last ninety days. 6.10% of the stock is owned by insiders.

Institutional Trading of Matador Resources

Several large investors have recently added to or reduced their stakes in the stock. Boston Trust Walden Corp bought a new stake in Matador Resources during the 3rd quarter valued at approximately $51,788,000. Element Capital Management LLC bought a new stake in shares of Matador Resources during the first quarter valued at approximately $28,572,000. Dimensional Fund Advisors LP grew its stake in 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 period. Los Angeles Capital Management LLC bought a new position in Matador Resources in the second quarter worth $18,747,000. Finally, Yaupon Capital Management LP purchased a new position in Matador Resources during the first quarter valued at $17,874,000. 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.