Matador Resources (NYSE:MTDR) Shares Up 4.3% Following Dividend Announcement

Matador Resources (NYSE:MTDR) shot up 4.3% during mid-day trading on Thursday following a dividend announcement from the company. The stock traded as high as $42.27 and last traded at $41.86. 143,823 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 1,547,063 shares. The stock had previously closed at $40.13.

The newly announced dividend which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be issued a dividend of $0.3125 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.25 annualized dividend and a dividend yield of 3.02%. Matador Resources’s dividend payout ratio (DPR) is currently 17.51%.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Wells Fargo & Company lowered their target price on shares of Matador Resources from $87.00 to $86.00 and set an “overweight” rating for the company in a research note on Thursday. Raymond James lowered their price objective on shares of Matador Resources from $77.00 to $67.00 and set an “outperform” rating for the company in a research note on Monday, March 10th. Wolfe Research upgraded Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 target price for the company in a research note on Friday, January 3rd. JPMorgan Chase & Co. lowered their price target on Matador Resources from $65.00 to $61.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Finally, Truist Financial increased their price objective on Matador Resources from $75.00 to $80.00 and gave the company a “buy” rating in a report on Monday, January 13th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $73.29.

Matador Resources Stock Performance

The stock has a market capitalization of $5.19 billion, a price-to-earnings ratio of 5.80 and a beta of 2.74. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.84 and a current ratio of 0.93. The firm’s 50 day moving average is $48.21 and its 200-day moving average is $53.80.

Matador Resources (NYSE:MTDR) last posted its earnings results on Tuesday, February 18th. The energy company reported $1.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.88 by ($0.05). Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. The firm had revenue of $970.37 million for the quarter, compared to analysts’ expectations of $967.10 million. Analysts forecast that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Robert T. Macalik bought 1,200 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average price of $47.98 per share, for a total transaction of $57,576.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,000 shares in the company, valued at $1,487,380. The trade was a 4.03 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Joseph Wm Foran purchased 6,000 shares of the stock in a transaction dated Friday, February 21st. The stock was purchased at an average cost of $53.94 per share, for a total transaction of $323,640.00. Following the completion of the purchase, the chief executive officer now directly owns 39,379 shares of the company’s stock, valued at approximately $2,124,103.26. The trade was a 17.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 21,350 shares of company stock worth $1,100,769 over the last three months. 6.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Matador Resources

Large investors have recently modified their holdings of the business. Stifel Financial Corp grew its stake in Matador Resources by 81.2% during the 3rd quarter. Stifel Financial Corp now owns 30,304 shares of the energy company’s stock valued at $1,498,000 after acquiring an additional 13,583 shares in the last quarter. Barclays PLC increased its holdings in shares of Matador Resources by 16.1% in the third quarter. Barclays PLC now owns 190,035 shares of the energy company’s stock valued at $9,391,000 after purchasing an additional 26,289 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Matador Resources in the third quarter valued at approximately $300,000. Tidal Investments LLC purchased a new position in Matador Resources during the third quarter worth approximately $423,000. Finally, Synovus Financial Corp boosted its stake in Matador Resources by 32.1% during the third quarter. Synovus Financial Corp now owns 22,753 shares of the energy company’s stock worth $1,124,000 after buying an additional 5,529 shares during the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

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.