Matador Resources (NYSE:MTDR) Upgraded by Wolfe Research to “Outperform” Rating

Wolfe Research upgraded shares of Matador Resources (NYSE:MTDR) from a peer perform rating to an outperform rating in a report published on Friday morning, MarketBeat reports. The brokerage currently has $72.00 price objective on the energy company’s stock.

Several other equities research analysts have also recently commented on MTDR. KeyCorp cut their price target on Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. TD Cowen increased their price objective on shares of Matador Resources from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Truist Financial decreased their price objective on Matador Resources from $86.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. JPMorgan Chase & Co. dropped their price objective on Matador Resources from $77.00 to $71.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Finally, Mizuho dropped their target price on Matador Resources from $74.00 to $73.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.21.

Matador Resources Price Performance

MTDR stock opened at $59.07 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.84. 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 $7.37 billion, a P/E ratio of 7.82 and a beta of 3.24. The business’s 50-day moving average is $56.30 and its two-hundred day moving average is $55.96.

Matador Resources (NYSE:MTDR) last released its quarterly earnings data on Tuesday, October 22nd. The energy company reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.11. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The company had revenue of $770.20 million for the quarter, compared to analysts’ expectations of $836.69 million. During the same quarter last year, the company earned $1.86 earnings per share. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. Analysts anticipate that Matador Resources will post 7.49 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 15th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.69%. 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 payout ratio is presently 13.25%.

Insider Activity

In other Matador Resources news, EVP William Thomas Elsener purchased 800 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was acquired 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 of the company’s stock, valued at approximately $5,827,762.40. This represents a 0.78 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Glenn W. Stetson purchased 1,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were bought at an average price of $51.33 per share, for a total transaction of $51,330.00. Following the completion of the transaction, the executive vice president now directly owns 85,935 shares in the company, valued at approximately $4,411,043.55. This trade represents a 1.18 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 4,285 shares of company stock worth $232,849. 6.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MTDR. Denver PWM LLC purchased a new position in Matador Resources in the 2nd quarter worth about $27,000. True Wealth Design LLC acquired a new stake in shares of Matador Resources in the 3rd quarter valued at $37,000. Avior Wealth Management LLC increased its holdings in shares of Matador Resources by 329.0% during the 3rd quarter. Avior Wealth Management LLC now owns 828 shares of the energy company’s stock valued at $41,000 after acquiring an additional 635 shares during the last quarter. Quarry LP boosted its holdings in shares of Matador Resources by 47.5% during the 2nd quarter. Quarry LP now owns 779 shares of the energy company’s stock worth $46,000 after buying an additional 251 shares during the period. Finally, Covestor Ltd grew its position in shares of Matador Resources by 154.8% in 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 and hedge funds own 91.98% of the company’s stock.

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.