Stephens Boosts Matador Resources (NYSE:MTDR) Price Target to $76.00

Matador Resources (NYSE:MTDR) had its target price upped by Stephens from $74.00 to $76.00 in a research note published on Friday morning, Benzinga reports. The firm currently has an overweight rating on the energy company’s stock.

A number of other analysts have also issued reports on MTDR. Mizuho lowered their target price on Matador Resources from $85.00 to $74.00 and set an outperform rating on the stock in a report on Monday, September 16th. Wells Fargo & Company boosted their price objective on shares of Matador Resources from $88.00 to $89.00 and gave the stock an overweight rating in a report on Monday, July 29th. Truist Financial decreased their target price on Matador Resources from $91.00 to $86.00 and set a buy rating on the stock in a research report on Monday, July 22nd. JPMorgan Chase & Co. decreased their price objective on Matador Resources from $83.00 to $76.00 and set an overweight rating on the stock in a report on Thursday, September 12th. Finally, Royal Bank of Canada restated an outperform rating and issued a $75.00 target price on shares of Matador Resources in a research note on Friday, September 20th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $76.75.

Matador Resources Stock Performance

Shares of NYSE MTDR opened at $49.36 on Friday. Matador Resources has a one year low of $47.15 and a one year high of $71.08. The business’s 50-day moving average price is $54.97 and its two-hundred day moving average price is $60.21. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.86 and a quick ratio of 0.82. The company has a market capitalization of $6.16 billion, a P/E ratio of 6.76 and a beta of 3.27.

Matador Resources (NYSE:MTDR) last posted its earnings results on Tuesday, July 23rd. The energy company reported $2.05 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $847.14 million during the quarter, compared to analysts’ expectations of $822.55 million. During the same period in the previous year, the company earned $1.42 earnings per share. The company’s revenue was up 32.8% compared to the same quarter last year. Analysts anticipate that Matador Resources will post 7.63 earnings per share for the current fiscal year.

Matador Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.80 annualized dividend and a yield of 1.62%. Matador Resources’s dividend payout ratio (DPR) is currently 10.96%.

Insider Transactions at Matador Resources

In other news, CAO Robert T. Macalik bought 500 shares of the stock in a transaction on Friday, August 2nd. The stock was purchased at an average price of $54.50 per share, for a total transaction of $27,250.00. Following the acquisition, the chief accounting officer now owns 29,300 shares in the company, valued at $1,596,850. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Matador Resources news, CFO Brian J. Willey acquired 1,500 shares of the stock in a transaction dated Friday, September 6th. The shares were bought at an average cost of $50.50 per share, for a total transaction of $75,750.00. Following the completion of the acquisition, the chief financial officer now directly owns 1,500 shares of the company’s stock, valued at $75,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Robert T. Macalik bought 500 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average cost of $54.50 per share, with a total value of $27,250.00. Following the transaction, the chief accounting officer now owns 29,300 shares of the company’s stock, valued at approximately $1,596,850. The disclosure for this purchase can be found here. Insiders purchased 12,300 shares of company stock valued at $634,615 over the last quarter. Corporate insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Matador Resources

Large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Matador Resources by 0.9% in the first quarter. Vanguard Group Inc. now owns 11,124,705 shares of the energy company’s stock valued at $742,797,000 after purchasing an additional 103,713 shares in the last quarter. Dimensional Fund Advisors LP raised its position in 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 worth $282,196,000 after acquiring an additional 356,506 shares in the last quarter. Clearbridge Investments LLC lifted its stake in Matador Resources by 10.5% in the second quarter. Clearbridge Investments LLC now owns 2,250,036 shares of the energy company’s stock valued at $134,102,000 after acquiring an additional 214,334 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Matador Resources by 31.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,206,041 shares of the energy company’s stock valued at $125,435,000 after acquiring an additional 531,504 shares during the period. Finally, Wasatch Advisors LP increased its stake in shares of Matador Resources by 7.3% during the 1st quarter. Wasatch Advisors LP now owns 1,176,802 shares of the energy company’s stock worth $78,575,000 after purchasing an additional 79,920 shares during the last quarter. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Matador Resources Company Profile

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.