Matador Resources Announces Quarterly Dividend of $0.31 (NYSE:MTDR)

Matador Resources (NYSE:MTDR) announced a quarterly dividend on Wednesday, April 16th, RTT News reports. Investors of record on Friday, May 9th will be paid a dividend of 0.3125 per share by the energy company on Friday, June 6th. This represents a $1.25 annualized dividend and a yield of 3.11%.

Matador Resources has increased its dividend by an average of 89.5% annually over the last three years. Matador Resources has a payout ratio of 15.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Matador Resources to earn $8.62 per share next year, which means the company should continue to be able to cover its $1.25 annual dividend with an expected future payout ratio of 14.5%.

Matador Resources Stock Performance

NYSE MTDR opened at $40.15 on Thursday. Matador Resources has a 52-week low of $35.19 and a 52-week high of $67.51. The firm has a market capitalization of $5.03 billion, a price-to-earnings ratio of 5.62 and a beta of 2.74. The company’s fifty day moving average is $48.92 and its two-hundred day moving average is $53.92. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.93 and a quick ratio of 0.84.

Matador Resources (NYSE:MTDR) last announced its quarterly 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 net margin of 25.26% and a return on equity of 18.52%. The business had revenue of $970.37 million during the quarter, compared to the consensus estimate of $967.10 million. Equities research analysts forecast that Matador Resources will post 8.53 EPS for the current year.

Wall Street Analysts Forecast Growth

MTDR has been the subject of a number of recent research reports. JPMorgan Chase & Co. dropped their target price on Matador Resources from $65.00 to $61.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Raymond James lowered their target price on shares of Matador Resources from $77.00 to $67.00 and set an “outperform” rating on the stock in a report on Monday, March 10th. Royal Bank of Canada reduced their price target on shares of Matador Resources from $70.00 to $62.00 and set an “outperform” rating on the stock in a research report on Friday, April 11th. Stephens dropped their price objective on shares of Matador Resources from $90.00 to $86.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Truist Financial boosted their target price on Matador Resources from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $73.36.

Insiders Place Their Bets

In other news, CAO Robert T. Macalik acquired 1,200 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average price of $47.98 per share, for a total transaction of $57,576.00. Following the completion of the acquisition, the chief accounting officer now owns 31,000 shares in the company, valued at $1,487,380. This trade represents a 4.03 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Paul W. Harvey purchased 600 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was purchased at an average cost of $55.20 per share, with a total value of $33,120.00. Following the acquisition, the director now directly owns 27,917 shares in the company, valued at $1,541,018.40. This trade represents a 2.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders bought 21,350 shares of company stock valued at $1,100,769. 6.10% of the stock is currently owned by insiders.

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.