Matador Resources (NYSE:MTDR) Receives $78.08 Consensus PT from Analysts

Matador Resources (NYSE:MTDR) has earned a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $77.17.

MTDR has been the subject of several research analyst reports. Mizuho dropped 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. JPMorgan Chase & Co. lowered their price objective on Matador Resources from $83.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Capital One Financial raised Matador Resources from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $80.00 to $84.00 in a report on Thursday, July 25th. Royal Bank of Canada reiterated an “outperform” rating and issued a $75.00 price target on shares of Matador Resources in a report on Thursday, July 25th. Finally, Wells Fargo & Company raised their price objective on Matador Resources from $88.00 to $89.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th.

Insider Activity

In other news, CEO Joseph Wm Foran acquired 2,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average price of $55.96 per share, with a total value of $111,920.00. Following the acquisition, the chief executive officer now directly owns 35,251 shares in the company, valued at $1,972,645.96. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Matador Resources news, CEO Joseph Wm Foran bought 2,000 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were purchased at an average price of $55.96 per share, with a total value of $111,920.00. Following the purchase, the chief executive officer now directly owns 35,251 shares of the company’s stock, valued at $1,972,645.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brian J. Willey purchased 1,500 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of $50.50 per share, with a total value of $75,750.00. Following 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. Over the last quarter, insiders bought 12,300 shares of company stock valued at $634,615. 6.10% of the stock is currently owned by company insiders.

Institutional Trading of Matador Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Denver PWM LLC bought a new position in shares of Matador Resources in the second quarter valued at approximately $27,000. Covestor Ltd lifted its position in Matador Resources by 121.4% in the first quarter. Covestor Ltd now owns 414 shares of the energy company’s stock worth $28,000 after purchasing an additional 227 shares during the period. Rise Advisors LLC bought a new position in Matador Resources during the 1st quarter valued at $34,000. Lindbrook Capital LLC boosted its stake in Matador Resources by 84.3% during the 1st quarter. Lindbrook Capital LLC now owns 597 shares of the energy company’s stock valued at $40,000 after purchasing an additional 273 shares in the last quarter. Finally, Quarry LP increased its position in shares of Matador Resources by 47.5% during the 2nd quarter. Quarry LP now owns 779 shares of the energy company’s stock valued at $46,000 after purchasing an additional 251 shares during the period. 91.98% of the stock is currently owned by institutional investors.

Matador Resources Price Performance

Shares of NYSE MTDR opened at $52.19 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 0.41. Matador Resources has a fifty-two week low of $48.22 and a fifty-two week high of $71.08. The business has a 50 day moving average price of $56.79 and a two-hundred day moving average price of $60.89. The firm has a market cap of $6.51 billion, a PE ratio of 7.22 and a beta of 3.27.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings results on Tuesday, July 23rd. The energy company reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.29. The business had revenue of $847.14 million during the quarter, compared to analyst estimates of $822.55 million. Matador Resources had a net margin of 29.01% and a return on equity of 21.12%. The business’s revenue was up 32.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.42 earnings per share. Sell-side analysts expect that Matador Resources will post 7.83 earnings per share for the current fiscal year.

Matador Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend was Thursday, August 15th. Matador Resources’s payout ratio is 10.96%.

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.