Matador Resources (NYSE:MTDR) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Matador Resources (NYSE:MTDR) have been assigned a consensus rating of “Moderate Buy” from the fourteen brokerages that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $74.38.

Several analysts have issued reports on the company. TD Cowen boosted their target price on Matador Resources from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. dropped their price objective on shares of Matador Resources from $77.00 to $71.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. KeyCorp cut their target price on shares of Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. BMO Capital Markets boosted their price target on shares of Matador Resources from $75.00 to $78.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Finally, Benchmark reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Matador Resources in a report on Wednesday, October 23rd.

Insider Activity at Matador Resources

In other news, EVP William Thomas Elsener acquired 800 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were bought at an average cost of $56.60 per share, with a total value of $45,280.00. Following the acquisition, the executive vice president now owns 102,964 shares in the company, valued at approximately $5,827,762.40. This represents a 0.78 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Glenn W. Stetson bought 1,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was purchased at an average cost of $51.33 per share, with a total value of $51,330.00. Following the purchase, the executive vice president now owns 85,935 shares of the company’s stock, valued at $4,411,043.55. This represents a 1.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 4,285 shares of company stock valued at $232,849 over the last three months. 6.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Matador Resources

A number of hedge funds have recently made changes to their positions in the business. Denver PWM LLC purchased a new position in Matador Resources in the 2nd quarter worth $27,000. True Wealth Design LLC bought a new position in shares of Matador Resources during the third quarter valued at about $37,000. Avior Wealth Management LLC increased its holdings in shares of Matador Resources by 329.0% in the third quarter. Avior Wealth Management LLC now owns 828 shares of the energy company’s stock worth $41,000 after buying an additional 635 shares during the period. Quarry LP lifted its stake in shares of Matador Resources by 47.5% in the 2nd quarter. Quarry LP now owns 779 shares of the energy company’s stock valued at $46,000 after acquiring an additional 251 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in Matador Resources by 154.8% during the 3rd quarter. Covestor Ltd now owns 1,060 shares of the energy company’s stock valued at $52,000 after acquiring an additional 644 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 $54.32 on Friday. The company has a market capitalization of $6.78 billion, a P/E ratio of 7.19 and a beta of 3.26. The company’s 50-day moving average is $55.72 and its 200 day moving average is $55.98. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.88. Matador Resources has a fifty-two week low of $47.15 and a fifty-two week high of $71.08.

Matador Resources (NYSE:MTDR) last released its earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.11. The firm had revenue of $770.20 million during the quarter, compared to the consensus estimate of $836.69 million. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The company’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 EPS. On average, equities research analysts forecast that Matador Resources will post 7.49 earnings per share for the current year.

Matador Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 15th were issued a dividend of $0.25 per share. This is a positive change from Matador Resources’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.84%. Matador Resources’s payout ratio is presently 13.25%.

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.