Matador Resources (NYSE:MTDR) Research Coverage Started at Morgan Stanley

Morgan Stanley initiated coverage on shares of Matador Resources (NYSE:MTDR) in a research report released on Friday morning, MarketBeat.com reports. The brokerage issued an equal weight rating and a $78.00 price objective on the energy company’s stock.

A number of other equities analysts have also issued reports on the company. Truist Financial decreased their price objective on Matador Resources from $86.00 to $75.00 and set a “buy” rating for the company in a report on Monday, September 30th. Mizuho decreased their target price on shares of Matador Resources from $74.00 to $73.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. BMO Capital Markets boosted their price target on shares of Matador Resources from $75.00 to $78.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. decreased their price objective on shares of Matador Resources from $77.00 to $71.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Finally, Benchmark reiterated a “buy” rating and set a $62.00 price target on shares of Matador Resources in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.79.

Matador Resources Trading Up 2.2 %

Shares of NYSE MTDR opened at $61.40 on Friday. Matador Resources has a 12-month low of $47.15 and a 12-month high of $71.08. The company has a market cap of $7.66 billion, a price-to-earnings ratio of 8.13 and a beta of 3.24. 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 stock’s 50 day simple moving average is $57.16 and its 200 day simple moving average is $55.99.

Matador Resources (NYSE:MTDR) last released its quarterly earnings results on Tuesday, October 22nd. The energy company reported $1.89 EPS 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 analyst estimates of $836.69 million. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.86 earnings per share. Equities research analysts expect that Matador Resources will post 7.49 EPS for the current year.

Matador Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 15th were paid a $0.25 dividend. This is a positive change from Matador Resources’s previous quarterly dividend of $0.20. The ex-dividend date was Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.63%. Matador Resources’s dividend payout ratio (DPR) is currently 13.25%.

Insiders Place Their Bets

In related news, EVP Glenn W. Stetson purchased 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was acquired at an average cost of $51.33 per share, for a total transaction of $51,330.00. Following the completion of the acquisition, the executive vice president now owns 85,935 shares in the company, valued at $4,411,043.55. This trade represents a 1.18 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joseph Wm Foran acquired 2,000 shares of the company’s stock in a transaction on Friday, December 6th. The stock was bought at an average price of $55.18 per share, for a total transaction of $110,360.00. Following the purchase, the chief executive officer now 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. In the last three months, insiders have bought 4,285 shares of company stock worth $232,849. Corporate insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. True Wealth Design LLC acquired a new stake in shares of Matador Resources during the 3rd quarter valued at about $37,000. Denver PWM LLC grew its position in Matador Resources by 67.2% in the third quarter. Denver PWM LLC now owns 754 shares of the energy company’s stock worth $37,000 after acquiring an additional 303 shares in the last quarter. Avior Wealth Management LLC increased its stake in shares of Matador Resources by 329.0% during the 3rd quarter. Avior Wealth Management LLC now owns 828 shares of the energy company’s stock worth $41,000 after purchasing an additional 635 shares during the last quarter. Quarry LP raised its holdings in shares of Matador Resources by 47.5% during 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, Covestor Ltd lifted its stake in shares of Matador Resources by 154.8% in the 3rd quarter. Covestor Ltd now owns 1,060 shares of the energy company’s stock valued at $52,000 after purchasing an additional 644 shares during the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

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.