Matador Resources Company (NYSE:MTDR) Receives $67.27 Consensus Target Price from Brokerages

Matador Resources Company (NYSE:MTDR) has been given an average rating of “Moderate Buy” by the sixteen ratings firms that are covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $67.2667.

Several equities analysts have recently weighed in on MTDR shares. UBS Group dropped their price objective on shares of Matador Resources from $49.00 to $48.00 and set a “neutral” rating on the stock in a report on Wednesday, August 20th. TD Cowen upgraded shares of Matador Resources to a “strong-buy” rating in a report on Monday, July 7th. Wells Fargo & Company dropped their price objective on shares of Matador Resources from $80.00 to $74.00 and set an “overweight” rating on the stock in a report on Monday, June 16th. Mizuho dropped their price objective on shares of Matador Resources from $73.00 to $69.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Finally, William Blair started coverage on shares of Matador Resources in a report on Monday, August 25th. They set an “outperform” rating on the stock.

Insider Transactions at Matador Resources

In other Matador Resources news, CEO Joseph Wm Foran bought 2,000 shares of the firm’s stock in a transaction dated Friday, September 12th. The stock was bought at an average cost of $48.15 per share, with a total value of $96,300.00. Following the completion of the transaction, the chief executive officer directly owned 8,025 shares in the company, valued at approximately $386,403.75. The trade was a 33.20% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP William Thomas Elsener bought 600 shares of the firm’s stock in a transaction dated Thursday, September 11th. The shares were acquired at an average cost of $48.46 per share, with a total value of $29,076.00. Following the completion of the transaction, the executive vice president owned 112,069 shares of the company’s stock, valued at $5,430,863.74. This represents a 0.54% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 11,380 shares of company stock valued at $549,188 over the last three months. Corporate insiders own 5.80% of the company’s stock.

Institutional Investors Weigh In On Matador Resources

Hedge funds and other institutional investors have recently made changes to their positions in the business. D.A. Davidson & CO. bought a new stake in shares of Matador Resources during the first quarter worth about $263,000. GAMMA Investing LLC grew its position in Matador Resources by 42.8% in the 1st quarter. GAMMA Investing LLC now owns 2,698 shares of the energy company’s stock worth $138,000 after purchasing an additional 809 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in Matador Resources in the 1st quarter worth about $885,000. Delphi Management Inc. MA grew its position in Matador Resources by 118.6% in the 1st quarter. Delphi Management Inc. MA now owns 23,302 shares of the energy company’s stock worth $1,190,000 after purchasing an additional 12,642 shares in the last quarter. Finally, OneDigital Investment Advisors LLC bought a new stake in Matador Resources in the 1st quarter worth about $200,000. 91.98% of the stock is owned by institutional investors.

Matador Resources Price Performance

MTDR stock opened at $45.65 on Tuesday. The firm has a market cap of $5.68 billion, a price-to-earnings ratio of 6.68 and a beta of 1.49. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 0.57. Matador Resources has a 12-month low of $35.19 and a 12-month high of $64.04. The company’s fifty day simple moving average is $48.32 and its 200 day simple moving average is $46.86.

Matador Resources (NYSE:MTDR) last released its earnings results on Tuesday, July 22nd. The energy company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.24. The business had revenue of $895.31 million for the quarter, compared to analyst estimates of $892.86 million. Matador Resources had a net margin of 22.57% and a return on equity of 16.53%. Matador Resources’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.05 earnings per share. On average, analysts expect that Matador Resources will post 8.53 earnings per share for the current year.

Matador Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 15th were given a dividend of $0.3125 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.25 annualized dividend and a dividend yield of 2.7%. Matador Resources’s payout ratio is presently 18.30%.

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.