Matador Resources (NYSE:MTDR) Given “Buy” Rating at Benchmark

Benchmark reiterated their buy rating on shares of Matador Resources (NYSE:MTDR) in a report published on Wednesday morning, Benzinga reports. They currently have a $62.00 target price on the energy company’s stock.

Several other research analysts have also recently weighed in on the stock. TD Cowen increased their price target on shares of Matador Resources from $85.00 to $87.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Truist Financial lowered their target price on Matador Resources from $86.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Wolfe Research assumed coverage on Matador Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $75.00 price objective on shares of Matador Resources in a report on Friday, September 27th. Finally, Mizuho dropped their target price on Matador Resources from $85.00 to $74.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Matador Resources presently has an average rating of “Moderate Buy” and a consensus price target of $75.69.

Matador Resources Price Performance

Shares of NYSE MTDR opened at $50.75 on Wednesday. Matador Resources has a fifty-two week low of $47.15 and a fifty-two week high of $71.08. The stock has a market capitalization of $6.33 billion, a price-to-earnings ratio of 6.95 and a beta of 3.26. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.86 and a quick ratio of 0.82. The business has a 50-day moving average of $52.93 and a 200-day moving average of $58.36.

Matador Resources (NYSE:MTDR) last announced 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. The firm had revenue of $770.20 million during the quarter, compared to analysts’ expectations of $836.69 million. Matador Resources had a net margin of 29.01% and a return on equity of 21.12%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.86 earnings per share. As a group, sell-side analysts predict that Matador Resources will post 7.4 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Friday, November 15th. This is an increase from Matador Resources’s previous quarterly dividend of $0.20. Matador Resources’s dividend payout ratio is 13.70%.

Insider Buying and Selling

In other news, CAO Robert T. Macalik acquired 500 shares of the stock in a transaction on Friday, August 2nd. The stock was acquired at an average cost of $54.50 per share, for a total transaction of $27,250.00. Following the completion of the transaction, the chief accounting officer now directly owns 29,300 shares in the company, valued at approximately $1,596,850. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Brian J. Willey purchased 1,500 shares of Matador Resources stock in a transaction dated Friday, September 6th. The shares were bought at an average cost of $50.50 per share, for a total transaction of $75,750.00. Following the purchase, the chief financial officer now owns 1,500 shares in the company, valued at approximately $75,750. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Robert T. Macalik purchased 500 shares of the firm’s stock in a transaction that occurred on 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 acquisition, the chief accounting officer now directly owns 29,300 shares in the company, valued at $1,596,850. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 12,300 shares of company stock worth $634,615. Corporate insiders own 6.10% of the company’s stock.

Institutional Trading of Matador Resources

A number of hedge funds have recently added to or reduced their stakes in MTDR. PNC Financial Services Group Inc. lifted its stake in shares of Matador Resources by 2.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,797 shares of the energy company’s stock valued at $614,000 after acquiring an additional 294 shares during the last quarter. First Dallas Securities Inc. increased its holdings in Matador Resources by 5.5% in the 1st quarter. First Dallas Securities Inc. now owns 11,119 shares of the energy company’s stock worth $742,000 after purchasing an additional 580 shares in the last quarter. Griffin Asset Management Inc. raised its position in Matador Resources by 7.3% in the first quarter. Griffin Asset Management Inc. now owns 73,534 shares of the energy company’s stock valued at $4,910,000 after purchasing an additional 5,000 shares during the last quarter. MorganRosel Wealth Management LLC acquired a new stake in shares of Matador Resources during the first quarter valued at about $200,000. Finally, Vaughan Nelson Investment Management L.P. grew its holdings in shares of Matador Resources by 33.4% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 816,445 shares of the energy company’s stock worth $54,515,000 after purchasing an additional 204,285 shares during the last quarter. Institutional investors and hedge funds 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.