Matador Resources (NYSE:MTDR) Price Target Raised to $62.00

Matador Resources (NYSE:MTDR) had its target price raised by Morgan Stanley from $60.00 to $62.00 in a research report sent to investors on Monday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the energy company’s stock.

Other analysts have also issued research reports about the stock. KeyCorp raised their price target on shares of Matador Resources from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. TD Cowen upgraded shares of Matador Resources to a “strong-buy” rating in a research report on Monday, July 7th. Bank of America began coverage on shares of Matador Resources in a research report on Monday, May 19th. They set a “buy” rating and a $56.00 price target on the stock. UBS Group raised their price target on shares of Matador Resources from $46.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. Finally, Raymond James Financial raised their price target on shares of Matador Resources from $60.00 to $63.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $67.60.

Matador Resources Trading Up 0.5%

Shares of Matador Resources stock opened at $46.2060 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.85 and a quick ratio of 0.81. The firm has a fifty day moving average price of $49.54 and a 200 day moving average price of $47.85. Matador Resources has a 1 year low of $35.19 and a 1 year high of $64.04. The stock has a market cap of $5.75 billion, a PE ratio of 6.77 and a beta of 1.49.

Matador Resources (NYSE:MTDR) last issued its earnings results on Tuesday, July 22nd. The energy company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.24. The firm had revenue of $895.31 million during the quarter, compared to analysts’ expectations of $892.86 million. Matador Resources had a net margin of 22.57% and a return on equity of 16.53%. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.05 earnings per share. Equities research analysts predict that Matador Resources will post 8.53 earnings per share for the current year.

Matador Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 15th will be paid a $0.3125 dividend. This represents a $1.25 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, August 15th. Matador Resources’s dividend payout ratio (DPR) is currently 18.30%.

Matador Resources declared that its board has authorized a stock buyback program on Wednesday, April 23rd that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the energy company to repurchase up to 7.8% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Matador Resources

In other Matador Resources news, CEO Joseph Wm Foran purchased 5,000 shares of the firm’s stock in a transaction dated Friday, August 1st. The shares were purchased at an average cost of $49.17 per share, with a total value of $245,850.00. Following the completion of the purchase, the chief executive officer owned 6,606 shares in the company, valued at approximately $324,817.02. This represents a 311.33% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 5.80% of the company’s stock.

Hedge Funds Weigh In On Matador Resources

Institutional investors have recently bought and sold shares of the company. MAI Capital Management increased its position in shares of Matador Resources by 13.9% during the second quarter. MAI Capital Management now owns 1,726 shares of the energy company’s stock valued at $82,000 after acquiring an additional 210 shares during the last quarter. Beacon Pointe Advisors LLC increased its position in shares of Matador Resources by 4.3% during the second quarter. Beacon Pointe Advisors LLC now owns 5,281 shares of the energy company’s stock valued at $252,000 after acquiring an additional 216 shares during the last quarter. ProShare Advisors LLC increased its position in shares of Matador Resources by 4.5% during the second quarter. ProShare Advisors LLC now owns 5,163 shares of the energy company’s stock valued at $246,000 after acquiring an additional 220 shares during the last quarter. Concurrent Investment Advisors LLC grew its holdings in shares of Matador Resources by 0.4% in the first quarter. Concurrent Investment Advisors LLC now owns 55,482 shares of the energy company’s stock valued at $2,835,000 after purchasing an additional 244 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in shares of Matador Resources by 93.0% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 554 shares of the energy company’s stock valued at $26,000 after purchasing an additional 267 shares in the last quarter. 91.98% of the stock is 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.