Matador Resources (NYSE:MTDR) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of Matador Resources (NYSE:MTDR – Get Rating) in a research note published on Thursday morning. The brokerage issued a hold rating on the energy company’s stock.

Several other analysts have also recently weighed in on the company. Cowen boosted their price target on Matador Resources from $67.00 to $78.00 and gave the stock an outperform rating in a report on Wednesday, January 25th. Roth Capital reaffirmed a buy rating on shares of Matador Resources in a research report on Friday, February 17th. Royal Bank of Canada reiterated an outperform rating and set a $78.00 price target on shares of Matador Resources in a report on Thursday, February 23rd. Mizuho decreased their price target on Matador Resources from $72.00 to $66.00 in a report on Friday, March 10th. Finally, KeyCorp reduced their price objective on Matador Resources from $73.00 to $67.00 in a research note on Monday, February 27th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $71.25.

Matador Resources Stock Performance

Matador Resources stock opened at $43.45 on Thursday. The company has a market cap of $5.17 billion, a PE ratio of 4.29 and a beta of 3.55. The company’s 50-day moving average is $58.51 and its two-hundred day moving average is $59.86. The company has a current ratio of 1.86, a quick ratio of 1.83 and a debt-to-equity ratio of 0.35. Matador Resources has a 1 year low of $41.17 and a 1 year high of $73.78.

Matador Resources (NYSE:MTDR – Get Rating) last released its earnings results on Wednesday, February 22nd. The energy company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.13. Matador Resources had a net margin of 39.71% and a return on equity of 44.14%. The business had revenue of $707.48 million during the quarter, compared to analysts’ expectations of $651.11 million. During the same period last year, the business earned $1.26 earnings per share. Equities analysts anticipate that Matador Resources will post 8.62 earnings per share for the current year.

Matador Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 9th. Investors of record on Monday, February 27th were paid a $0.15 dividend. This is a positive change from Matador Resources’s previous quarterly dividend of $0.10. The ex-dividend date was Friday, February 24th. This represents a $0.60 dividend on an annualized basis and a yield of 1.38%. Matador Resources’s dividend payout ratio (DPR) is 5.92%.

Insider Activity

In other news, insider Billy E. Goodwin purchased 1,000 shares of Matador Resources stock in a transaction dated Thursday, March 16th. The shares were purchased at an average price of $44.52 per share, with a total value of $44,520.00. Following the transaction, the insider now owns 286,624 shares in the company, valued at $12,760,500.48. The purchase was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Joseph Wm Foran bought 2,000 shares of the stock in a transaction on Wednesday, March 15th. The shares were bought at an average cost of $44.75 per share, for a total transaction of $89,500.00. Following the completion of the transaction, the chief executive officer now owns 173,468 shares of the company’s stock, valued at approximately $7,762,693. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Billy E. Goodwin bought 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 16th. The shares were purchased at an average price of $44.52 per share, for a total transaction of $44,520.00. Following the transaction, the insider now owns 286,624 shares of the company’s stock, valued at approximately $12,760,500.48. The disclosure for this purchase can be found here. Insiders have acquired 5,800 shares of company stock worth $269,195 in the last ninety days. Company insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Matador Resources

Hedge funds have recently bought and sold shares of the company. Greenleaf Trust increased its holdings in shares of Matador Resources by 0.8% in the fourth quarter. Greenleaf Trust now owns 21,586 shares of the energy company’s stock valued at $1,236,000 after buying an additional 168 shares in the last quarter. Shaker Investments LLC OH raised its position in Matador Resources by 1.1% in the fourth quarter. Shaker Investments LLC OH now owns 16,190 shares of the energy company’s stock worth $927,000 after purchasing an additional 182 shares in the last quarter. SVB Wealth LLC grew its stake in shares of Matador Resources by 1.8% during the third quarter. SVB Wealth LLC now owns 10,874 shares of the energy company’s stock valued at $532,000 after purchasing an additional 194 shares during the last quarter. Metropolitan Life Insurance Co NY lifted its holdings in Matador Resources by 2.9% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 6,910 shares of the energy company’s stock valued at $396,000 after buying an additional 197 shares during the period. Finally, Louisiana State Employees Retirement System raised its holdings in Matador Resources by 0.7% in the fourth quarter. Louisiana State Employees Retirement System now owns 30,100 shares of the energy company’s stock worth $1,723,000 after purchasing an additional 200 shares during the period. 87.00% of the stock is currently owned by institutional investors and hedge funds.

About Matador Resources

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Matador Resources Co is a holding company, which engages in the exploration, development, production, and acquisition of oil and natural gas resources. It operates through the following segments: Exploration and Production, Midstream, and Corporate. The Exploration and Production segment focuses on the exploration, development, production, and acquisition of oil and liquids-rich portion of the Wolfcamp and Bone Spring.