Matador Resources Company (NYSE:MTDR) Receives $66.07 Average PT from Brokerages

Shares of Matador Resources Company (NYSE:MTDR) have been given an average recommendation of “Moderate Buy” by the seventeen brokerages that are currently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $66.0714.

MTDR has been the topic of several recent analyst reports. Citigroup reduced their target price on shares of Matador Resources from $68.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. Zacks Research cut shares of Matador Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Roth Capital raised shares of Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 price objective on the stock in a research report on Monday, June 22nd. Truist Financial decreased their price objective on shares of Matador Resources from $63.00 to $59.00 and set a “buy” rating for the company in a research note on Monday, August 10th. Finally, UBS Group boosted their target price on Matador Resources from $54.00 to $56.00 and gave the company a “neutral” rating in a research report on Monday, August 10th.

Insiders Place Their Bets

In related news, CEO Joseph Wm Foran purchased 10,000 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were purchased at an average cost of $52.16 per share, for a total transaction of $521,600.00. Following the completion of the acquisition, the chief executive officer owned 25,617 shares in the company, valued at approximately $1,336,182.72. This trade represents a 64.03% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP William Thomas Elsener acquired 850 shares of the stock in a transaction on Monday, August 10th. The stock was bought at an average cost of $50.94 per share, with a total value of $43,299.00. Following the completion of the transaction, the executive vice president owned 114,879 shares in the company, valued at $5,851,936.26. This trade represents a 0.75% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 31,996 shares of company stock worth $1,675,663 in the last 90 days. 5.90% of the stock is owned by insiders.

Institutional Trading of Matador Resources

A number of large investors have recently modified their holdings of the company. Kestra Investment Management LLC increased its holdings in Matador Resources by 225.2% during the 2nd quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock worth $25,000 after purchasing an additional 358 shares during the period. V Square Quantitative Management LLC purchased a new stake in shares of Matador Resources in the 1st quarter worth $27,000. Measured Wealth Private Client Group LLC bought a new position in shares of Matador Resources during the 3rd quarter worth $35,000. Center for Financial Planning Inc. purchased a new position in shares of Matador Resources during the first quarter valued at $41,000. Finally, Gilpin Wealth Management LLC bought a new stake in shares of Matador Resources in the fourth quarter valued at about $42,000. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Matador Resources Stock Performance

NYSE:MTDR opened at $58.42 on Friday. The stock’s fifty day moving average is $51.37 and its 200 day moving average is $54.40. Matador Resources has a fifty-two week low of $37.14 and a fifty-two week high of $66.84. The firm has a market capitalization of $7.23 billion, a PE ratio of 10.02 and a beta of 0.76. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.62 and a current ratio of 0.65.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings results on Wednesday, August 5th. The energy company reported $2.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.53. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.06 billion. Matador Resources had a return on equity of 13.18% and a net margin of 19.85%.Matador Resources’s revenue was up 32.5% on a year-over-year basis. During the same period last year, the company earned $1.53 earnings per share. On average, sell-side analysts anticipate that Matador Resources will post 7.19 earnings per share for the current year.

Matador Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 10th will be paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, August 10th. Matador Resources’s dividend payout ratio (DPR) is currently 25.73%.

Matador Resources Company Profile

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.