Matador Resources Company (NYSE:MTDR) Receives $63.57 Consensus PT from Analysts

Matador Resources Company (NYSE:MTDR) has been given a consensus rating of “Moderate Buy” by the sixteen research firms that are currently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation, twelve have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $63.5714.

A number of equities analysts have recently weighed in on MTDR shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Matador Resources in a research report on Tuesday, October 14th. Morgan Stanley dropped their price objective on Matador Resources from $62.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 14th. Raymond James Financial reissued an “outperform” rating and issued a $55.00 target price (down from $63.00) on shares of Matador Resources in a research note on Monday, October 20th. KeyCorp lowered their price target on Matador Resources from $61.00 to $52.00 and set an “overweight” rating for the company in a report on Friday, October 24th. Finally, Mizuho cut their price objective on Matador Resources from $69.00 to $67.00 and set an “outperform” rating on the stock in a report on Friday, October 10th.

Insider Buying and Selling

In related news, Director Shelley F. Appel acquired 1,784 shares of the stock in a transaction dated Thursday, October 30th. The stock was bought at an average price of $39.85 per share, with a total value of $71,092.40. Following the completion of the transaction, the director directly owned 1,784 shares of the company’s stock, valued at approximately $71,092.40. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joseph Wm Foran acquired 9,500 shares of the company’s stock in a transaction that occurred on Thursday, October 30th. The shares were bought at an average price of $39.78 per share, for a total transaction of $377,910.00. Following the completion of the acquisition, the chief executive officer owned 17,525 shares of the company’s stock, valued at $697,144.50. This trade represents a 118.38% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have acquired 43,726 shares of company stock valued at $1,766,734. 5.80% of the stock is owned by corporate insiders.

Institutional Trading of Matador Resources

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Matador Resources by 0.7% during the third quarter. Vanguard Group Inc. now owns 14,780,888 shares of the energy company’s stock worth $664,105,000 after buying an additional 101,613 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Matador Resources by 4.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,411,520 shares of the energy company’s stock valued at $288,079,000 after acquiring an additional 259,299 shares in the last quarter. LSV Asset Management boosted its position in Matador Resources by 5.9% during the 3rd quarter. LSV Asset Management now owns 3,532,303 shares of the energy company’s stock worth $158,706,000 after acquiring an additional 197,528 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its stake in shares of Matador Resources by 143.1% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,556,472 shares of the energy company’s stock worth $121,995,000 after acquiring an additional 1,505,000 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Matador Resources by 6.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,064,037 shares of the energy company’s stock worth $92,737,000 after acquiring an additional 129,863 shares in the last quarter. 91.98% of the stock is currently owned by institutional investors.

Matador Resources Price Performance

Matador Resources stock opened at $41.40 on Wednesday. The company has a current ratio of 0.73, a quick ratio of 0.69 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $5.15 billion, a P/E ratio of 6.61 and a beta of 1.35. The business has a 50-day moving average of $43.44 and a 200-day moving average of $46.11. Matador Resources has a 1 year low of $35.19 and a 1 year high of $64.04.

Matador Resources (NYSE:MTDR) last released its quarterly earnings data on Tuesday, October 21st. The energy company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.14. Matador Resources had a net margin of 20.46% and a return on equity of 14.80%. The business had revenue of $915.12 million for the quarter, compared to analyst estimates of $893.22 million. During the same quarter last year, the firm earned $1.89 EPS. Matador Resources’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, equities analysts anticipate that Matador Resources will post 8.53 EPS for the current year.

Matador Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Monday, November 10th will be paid a $0.375 dividend. The ex-dividend date of this dividend is Monday, November 10th. This is an increase from Matador Resources’s previous quarterly dividend of $0.31. This represents a $1.50 dividend on an annualized basis and a yield of 3.6%. Matador Resources’s payout ratio is presently 23.96%.

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.