Matador Resources (NYSE:MTDR) Declares Dividend Increase – $0.25 Per Share

Matador Resources (NYSE:MTDR) announced a quarterly dividend on Wednesday, October 16th,NASDAQ Dividends reports. Stockholders of record on Friday, November 15th will be given a dividend of 0.25 per share by the energy company on Friday, December 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Matador Resources’s previous quarterly dividend of $0.20.

Matador Resources has a dividend payout ratio of 12.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Matador Resources to earn $7.68 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 13.0%.

Matador Resources Trading Down 0.1 %

MTDR stock opened at $57.22 on Wednesday. Matador Resources has a 52-week low of $47.15 and a 52-week high of $71.08. The company has a quick ratio of 0.84, a current ratio of 0.88 and a debt-to-equity ratio of 0.71. The company’s 50-day simple moving average is $52.10 and its 200-day simple moving average is $57.01. The firm has a market cap of $7.14 billion, a P/E ratio of 7.58 and a beta of 3.26.

Matador Resources (NYSE:MTDR) last released its quarterly earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.11. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The firm had revenue of $770.20 million during the quarter, compared to the consensus estimate of $836.69 million. During the same quarter in the prior year, the firm earned $1.86 EPS. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, equities analysts forecast that Matador Resources will post 7.5 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Brian J. Willey purchased 1,500 shares of Matador Resources stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average cost of $50.50 per share, with a total value of $75,750.00. Following the completion of the transaction, the chief financial officer now directly owns 1,500 shares in the company, valued at approximately $75,750. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Glenn W. Stetson purchased 1,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were acquired at an average cost of $51.33 per share, for a total transaction of $51,330.00. Following the completion of the purchase, the executive vice president now directly owns 85,935 shares in the company, valued at $4,411,043.55. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brian J. Willey purchased 1,500 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were purchased at an average price of $50.50 per share, for a total transaction of $75,750.00. Following the completion of the purchase, the chief financial officer now owns 1,500 shares of the company’s stock, valued at approximately $75,750. The disclosure for this purchase can be found here. Insiders acquired 11,105 shares of company stock valued at $562,306 in the last ninety days. Insiders own 6.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Royal Bank of Canada restated an “outperform” rating and set a $70.00 price target on shares of Matador Resources in a research report on Thursday, October 24th. Benchmark reiterated a “buy” rating and issued a $62.00 price objective on shares of Matador Resources in a report on Wednesday, October 23rd. KeyCorp cut their price objective on shares of Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. TD Cowen increased their price objective on shares of Matador Resources from $85.00 to $87.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Wells Fargo & Company cut their price objective on shares of Matador Resources from $89.00 to $87.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.92.

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.