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

Matador Resources (NYSE:MTDR) has been assigned an average recommendation of “Moderate Buy” from the fourteen ratings firms 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 twelve-month price objective among brokers that have issued a report on the stock in the last year is $74.38.

A number of equities analysts have issued reports on MTDR shares. Wells Fargo & Company increased their price target on Matador Resources from $87.00 to $91.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. JPMorgan Chase & Co. lowered their target price on Matador Resources from $77.00 to $71.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Mizuho cut their price target on shares of Matador Resources from $74.00 to $73.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Stephens raised their price objective on shares of Matador Resources from $78.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Finally, Truist Financial dropped their target price on shares of Matador Resources from $86.00 to $75.00 and set a “buy” rating on the stock in a report on Monday, September 30th.

Insider Activity at Matador Resources

In other news, EVP William Thomas Elsener purchased 800 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was bought at an average cost of $56.60 per share, with a total value of $45,280.00. Following the purchase, the executive vice president now directly owns 102,964 shares of the company’s stock, valued at approximately $5,827,762.40. This trade represents a 0.78 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Joseph Wm Foran purchased 2,000 shares of Matador Resources stock in a transaction dated Friday, December 6th. The shares were purchased at an average price of $55.18 per share, with a total value of $110,360.00. Following the completion of the acquisition, the chief executive officer now owns 42,251 shares in the company, valued at $2,331,410.18. The trade was a 4.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 4,285 shares of company stock valued at $232,849. Corporate insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Matador Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Denver PWM LLC acquired a new stake in shares of Matador Resources in the second quarter worth about $27,000. True Wealth Design LLC bought a new position in shares of Matador Resources in the 3rd quarter valued at approximately $37,000. Avior Wealth Management LLC lifted its holdings in Matador Resources by 329.0% in the 3rd quarter. Avior Wealth Management LLC now owns 828 shares of the energy company’s stock worth $41,000 after purchasing an additional 635 shares during the last quarter. Quarry LP boosted its position in Matador Resources by 47.5% during the second quarter. Quarry LP now owns 779 shares of the energy company’s stock worth $46,000 after purchasing an additional 251 shares during the period. Finally, Covestor Ltd grew its holdings in Matador Resources by 154.8% during the third quarter. Covestor Ltd now owns 1,060 shares of the energy company’s stock valued at $52,000 after purchasing an additional 644 shares during the last quarter. Institutional investors own 91.98% of the company’s stock.

Matador Resources Trading Up 0.9 %

Shares of MTDR stock opened at $53.07 on Friday. Matador Resources has a 1 year low of $47.15 and a 1 year high of $71.08. The firm has a market capitalization of $6.62 billion, a PE ratio of 7.03 and a beta of 3.26. The stock has a fifty day moving average of $55.52 and a two-hundred day moving average of $56.13. 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 (NYSE:MTDR) last posted its quarterly earnings data on Tuesday, October 22nd. The energy company reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.11. The business 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 quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.86 earnings per share. As a group, research analysts expect that Matador Resources will post 7.49 EPS for the current year.

Matador Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 15th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.88%. 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. Matador Resources’s dividend payout ratio is 13.25%.

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.