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

Shares of Matador Resources (NYSE:MTDR) have been given a consensus rating of “Buy” by the eleven analysts that are currently covering the company, MarketBeat Ratings reports. Eleven equities research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $76.09.

A number of equities research analysts recently commented on MTDR shares. Stephens started coverage on shares of Matador Resources in a research note on Friday, June 21st. They issued an “overweight” rating and a $83.00 price objective on the stock. TD Cowen increased their price objective on shares of Matador Resources from $64.00 to $72.00 and gave the company an “outperform” rating in a research note on Monday, March 4th. Mizuho increased their price objective on shares of Matador Resources from $83.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, June 14th. JPMorgan Chase & Co. increased their price objective on shares of Matador Resources from $76.00 to $77.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Finally, Truist Financial increased their price objective on shares of Matador Resources from $87.00 to $91.00 and gave the company a “buy” rating in a research note on Thursday, June 13th.

Insider Transactions at Matador Resources

In related news, EVP Bryan A. Erman acquired 1,750 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were acquired at an average cost of $55.90 per share, for a total transaction of $97,825.00. Following the acquisition, the executive vice president now directly owns 1,750 shares in the company, valued at approximately $97,825. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MTDR. Goldman Sachs Group Inc. raised its holdings in Matador Resources by 31.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,206,041 shares of the energy company’s stock valued at $125,435,000 after buying an additional 531,504 shares during the period. Element Capital Management LLC purchased a new position in Matador Resources in the first quarter valued at approximately $28,572,000. Public Employees Retirement Association of Colorado raised its holdings in Matador Resources by 14,874.4% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 427,520 shares of the energy company’s stock valued at $24,309,000 after buying an additional 424,665 shares during the period. Wellington Management Group LLP raised its holdings in Matador Resources by 44.8% in the fourth quarter. Wellington Management Group LLP now owns 1,065,291 shares of the energy company’s stock valued at $60,572,000 after buying an additional 329,522 shares during the period. Finally, Principal Financial Group Inc. grew its position in Matador Resources by 38.5% in the first quarter. Principal Financial Group Inc. now owns 1,028,997 shares of the energy company’s stock valued at $68,706,000 after acquiring an additional 285,954 shares in the last quarter. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Matador Resources Stock Performance

NYSE:MTDR opened at $59.60 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.89 and a debt-to-equity ratio of 0.43. Matador Resources has a fifty-two week low of $49.12 and a fifty-two week high of $71.08. The stock has a market cap of $7.44 billion, a PE ratio of 8.16 and a beta of 3.30. The firm’s fifty day simple moving average is $61.14 and its 200-day simple moving average is $60.72.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings results on Tuesday, April 23rd. The energy company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.32. Matador Resources had a net margin of 28.89% and a return on equity of 20.62%. The business had revenue of $787.70 million for the quarter, compared to analysts’ expectations of $740.99 million. During the same period in the prior year, the company posted $1.50 EPS. The business’s revenue for the quarter was up 40.6% on a year-over-year basis. Analysts expect that Matador Resources will post 7.86 earnings per share for the current fiscal year.

Matador Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 17th were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $0.80 dividend on an annualized basis and a yield of 1.34%. Matador Resources’s dividend payout ratio (DPR) 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.