Matador Resources’ (MTDR) “Buy” Rating Reiterated at Benchmark

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

A number of other equities analysts also recently commented on MTDR. TD Cowen lifted their target price on shares of Matador Resources from $85.00 to $87.00 and gave the stock a buy rating in a research note on Wednesday. Stephens assumed coverage on shares of Matador Resources in a research report on Friday, June 21st. They set an overweight rating and a $83.00 price target for the company. Wells Fargo & Company lifted their price target on shares of Matador Resources from $85.00 to $88.00 and gave the company an overweight rating in a research report on Wednesday, July 17th. KeyCorp lifted their price target on shares of Matador Resources from $71.00 to $76.00 and gave the company an overweight rating in a research report on Monday, April 22nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Matador Resources from $76.00 to $77.00 and gave the company an overweight rating in a research report on Thursday, April 11th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $78.08.

Matador Resources Price Performance

Shares of MTDR stock opened at $61.44 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.86 and a quick ratio of 0.84. The firm’s 50-day moving average is $60.26 and its two-hundred day moving average is $61.38. Matador Resources has a 12 month low of $51.72 and a 12 month high of $71.08. The company has a market capitalization of $7.67 billion, a PE ratio of 8.42 and a beta of 3.29.

Matador Resources (NYSE:MTDR) last issued its earnings results on Tuesday, July 23rd. The energy company reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.29. Matador Resources had a net margin of 29.01% and a return on equity of 21.12%. The company had revenue of $847.14 million for the quarter, compared to the consensus estimate of $822.55 million. During the same period in the previous year, the firm earned $1.42 earnings per share. Matador Resources’s quarterly revenue was up 32.8% compared to the same quarter last year. Analysts predict that Matador Resources will post 7.74 earnings per share for the current year.

Matador Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 15th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.80 dividend on an annualized basis and a yield of 1.30%. Matador Resources’s dividend payout ratio is currently 10.96%.

Insider Buying and Selling

In other news, EVP Bryan A. Erman purchased 1,750 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was bought at an average price of $55.90 per share, for a total transaction of $97,825.00. Following the completion of the purchase, the executive vice president now directly owns 1,750 shares of the company’s stock, valued at $97,825. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MTDR. Essex Investment Management Co. LLC lifted its position in shares of Matador Resources by 0.5% during the 1st quarter. Essex Investment Management Co. LLC now owns 37,532 shares of the energy company’s stock worth $2,506,000 after buying an additional 169 shares during the last quarter. Securian Asset Management Inc. lifted its position in shares of Matador Resources by 1.9% during the 2nd quarter. Securian Asset Management Inc. now owns 9,255 shares of the energy company’s stock worth $552,000 after buying an additional 170 shares during the last quarter. Atria Wealth Solutions Inc. lifted its position in shares of Matador Resources by 5.3% during the 4th quarter. Atria Wealth Solutions Inc. now owns 3,880 shares of the energy company’s stock worth $221,000 after buying an additional 195 shares during the last quarter. Raymond James Trust N.A. lifted its position in shares of Matador Resources by 3.6% during the 2nd quarter. Raymond James Trust N.A. now owns 5,714 shares of the energy company’s stock worth $341,000 after buying an additional 198 shares during the last quarter. Finally, Covestor Ltd lifted its position in shares of Matador Resources by 121.4% during the 1st quarter. Covestor Ltd now owns 414 shares of the energy company’s stock worth $28,000 after buying an additional 227 shares during the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

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.