Matador Resources (NYSE:MTDR) Given Average Recommendation of “Moderate Buy” by Brokerages

Matador Resources (NYSE:MTDR) has earned an average recommendation of “Moderate Buy” from the fourteen analysts that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $74.92.

A number of equities research analysts have issued reports on the stock. Mizuho cut their target price on shares of Matador Resources from $85.00 to $74.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. KeyCorp cut their price objective on Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Truist Financial lowered their target price on Matador Resources from $86.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. JPMorgan Chase & Co. cut their price target on Matador Resources from $77.00 to $71.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Finally, Stephens boosted their price target on Matador Resources from $76.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, October 21st.

Insider Buying and Selling

In related news, CEO Joseph Wm Foran acquired 2,500 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were purchased at an average price of $51.47 per share, with a total value of $128,675.00. Following the acquisition, the chief executive officer now directly owns 37,751 shares in the company, valued at $1,943,043.97. The trade was a 7.09 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CAO Robert T. Macalik bought 500 shares of the company’s stock in a transaction on Friday, September 6th. The stock was bought at an average cost of $50.25 per share, with a total value of $25,125.00. Following the completion of the purchase, the chief accounting officer now owns 29,800 shares of the company’s stock, valued at approximately $1,497,450. The trade was a 1.71 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 11,105 shares of company stock worth $562,306 in the last quarter. 6.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MTDR. Dimensional Fund Advisors LP lifted its stake in shares of Matador Resources by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 4,734,819 shares of the energy company’s stock valued at $282,196,000 after acquiring an additional 356,506 shares during the period. Victory Capital Management Inc. lifted its position in Matador Resources by 2.7% during the 3rd quarter. Victory Capital Management Inc. now owns 2,752,102 shares of the energy company’s stock valued at $136,009,000 after purchasing an additional 72,077 shares during the period. Clearbridge Investments LLC boosted its stake in shares of Matador Resources by 10.5% in the 2nd quarter. Clearbridge Investments LLC now owns 2,250,036 shares of the energy company’s stock valued at $134,102,000 after purchasing an additional 214,334 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Matador Resources by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,008,730 shares of the energy company’s stock worth $99,297,000 after buying an additional 36,921 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Matador Resources by 4.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,434,926 shares of the energy company’s stock worth $70,914,000 after buying an additional 57,254 shares during the last quarter. 91.98% of the stock is currently owned by institutional investors.

Matador Resources Stock Up 0.9 %

NYSE:MTDR opened at $59.43 on Wednesday. The business’s fifty day moving average price is $54.38 and its 200 day moving average price is $56.58. The firm has a market capitalization of $7.42 billion, a price-to-earnings ratio of 7.87 and a beta of 3.26. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71. Matador Resources has a 1-year low of $47.15 and a 1-year high of $71.08.

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

Matador Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.68%. 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’s payout ratio is currently 13.25%.

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.