Matador Resources (NYSE:MTDR) Given New $78.00 Price Target at BMO Capital Markets

Matador Resources (NYSE:MTDR) had its price objective hoisted by BMO Capital Markets from $75.00 to $78.00 in a research report released on Friday morning, Benzinga reports. BMO Capital Markets currently has an outperform rating on the energy company’s stock.

Other analysts also recently issued reports about the stock. Stephens boosted their price target on shares of Matador Resources from $74.00 to $76.00 and gave the stock an overweight rating in a research report on Friday, September 27th. Capital One Financial upgraded Matador Resources from an equal weight rating to an overweight rating and upped their target price for the stock from $80.00 to $84.00 in a research report on Thursday, July 25th. Wolfe Research initiated coverage on Matador Resources in a research report on Thursday, July 18th. They set a peer perform rating on the stock. Royal Bank of Canada reaffirmed an outperform rating and set a $75.00 target price on shares of Matador Resources in a research note on Friday, September 27th. Finally, TD Cowen boosted their price target on shares of Matador Resources from $85.00 to $87.00 and gave the stock a buy rating in a research report on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Matador Resources presently has a consensus rating of Moderate Buy and an average target price of $75.85.

Matador Resources Stock Performance

NYSE MTDR traded up $0.65 on Friday, hitting $54.08. The stock had a trading volume of 1,426,131 shares, compared to its average volume of 1,510,834. The company’s 50-day moving average is $53.97 and its two-hundred day moving average is $59.79. The stock has a market cap of $6.75 billion, a price-to-earnings ratio of 7.41 and a beta of 3.26. 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 one year low of $47.15 and a one year high of $71.08.

Matador Resources (NYSE:MTDR) last announced its earnings results on Tuesday, July 23rd. The energy company reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.29. The firm had revenue of $847.14 million for the quarter, compared to the consensus estimate of $822.55 million. Matador Resources had a return on equity of 21.12% and a net margin of 29.01%. The firm’s revenue for the quarter was up 32.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.42 EPS. On average, analysts expect that Matador Resources will post 7.63 earnings per share for the current year.

Matador Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 15th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.48%. The ex-dividend date was Thursday, August 15th. Matador Resources’s dividend payout ratio is currently 10.96%.

Insiders Place Their Bets

In related news, CAO Robert T. Macalik purchased 500 shares of Matador Resources stock in a transaction dated 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 completion of the transaction, the chief accounting officer now directly owns 29,300 shares of the company’s stock, valued at $1,596,850. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Joseph Wm Foran bought 2,000 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were bought at an average cost of $55.96 per share, with a total value of $111,920.00. Following the transaction, the chief executive officer now directly owns 35,251 shares in the company, valued at approximately $1,972,645.96. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Robert T. Macalik purchased 500 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were purchased at an average cost of $54.50 per share, with a total value of $27,250.00. Following the completion of the purchase, the chief accounting officer now directly owns 29,300 shares in the company, valued at approximately $1,596,850. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 12,300 shares of company stock worth $634,615. 6.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Matador Resources

Several large investors have recently made changes to their positions in the company. Essex Investment Management Co. LLC raised its holdings in Matador Resources by 0.5% during the first quarter. Essex Investment Management Co. LLC now owns 37,532 shares of the energy company’s stock valued at $2,506,000 after buying an additional 169 shares in the last quarter. Securian Asset Management Inc. lifted its holdings in Matador Resources by 1.9% in the 2nd quarter. Securian Asset Management Inc. now owns 9,255 shares of the energy company’s stock worth $552,000 after purchasing an additional 170 shares during the last quarter. Raymond James Trust N.A. boosted its position in Matador Resources by 3.6% during the second quarter. Raymond James Trust N.A. now owns 5,714 shares of the energy company’s stock worth $341,000 after purchasing an additional 198 shares during the period. Covestor Ltd grew its holdings in Matador Resources by 121.4% during the first quarter. Covestor Ltd now owns 414 shares of the energy company’s stock valued at $28,000 after purchasing an additional 227 shares during the last quarter. Finally, Fifth Third Bancorp grew its holdings in Matador Resources by 16.6% during the second quarter. Fifth Third Bancorp now owns 1,709 shares of the energy company’s stock valued at $102,000 after purchasing an additional 243 shares during the last quarter. 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.