Matador Resources Company (NYSE:MTDR) Receives $64.08 Consensus Target Price from Brokerages

Matador Resources Company (NYSE:MTDR) has earned an average rating of “Moderate Buy” from the sixteen brokerages that are presently covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $64.0769.

A number of equities research analysts have issued reports on MTDR shares. Wells Fargo & Company lifted their target price on shares of Matador Resources from $54.00 to $63.00 and gave the company an “equal weight” rating in a research note on Thursday, April 16th. Morgan Stanley cut their price objective on Matador Resources from $75.00 to $66.00 and set an “equal weight” rating for the company in a report on Monday, June 29th. KeyCorp lifted their price objective on Matador Resources from $61.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, April 2nd. Weiss Ratings downgraded Matador Resources from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 12th. Finally, Roth Capital raised Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 target price on the stock in a research report on Monday, June 22nd.

Matador Resources Price Performance

NYSE MTDR opened at $50.88 on Monday. The company has a 50 day simple moving average of $53.10 and a 200-day simple moving average of $53.20. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.73 and a quick ratio of 0.70. The firm has a market capitalization of $6.32 billion, a price-to-earnings ratio of 13.08 and a beta of 0.74. Matador Resources has a 52-week low of $37.14 and a 52-week high of $66.84.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.29. The firm had revenue of $941.60 million for the quarter, compared to the consensus estimate of $871.57 million. Matador Resources had a net margin of 14.41% and a return on equity of 11.20%. The firm’s revenue was down 33.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.99 earnings per share. Equities research analysts predict that Matador Resources will post 6.83 earnings per share for the current fiscal year.

Matador Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 10th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Monday, August 10th. Matador Resources’s dividend payout ratio (DPR) is presently 38.56%.

Insider Buying and Selling at Matador Resources

In other Matador Resources news, COO Glenn W. Stetson bought 500 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was bought at an average cost of $53.41 per share, with a total value of $26,705.00. Following the completion of the transaction, the chief operating officer directly owned 95,470 shares of the company’s stock, valued at approximately $5,099,052.70. The trade was a 0.53% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Christopher P. Calvert purchased 1,500 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were acquired at an average price of $53.24 per share, for a total transaction of $79,860.00. Following the purchase, the chief financial officer owned 41,500 shares in the company, valued at $2,209,460. The trade was a 3.75% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired 11,907 shares of company stock worth $635,712 over the last ninety days. 5.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Matador Resources

Several hedge funds have recently bought and sold shares of MTDR. Wellington Management Group LLP lifted its position in shares of Matador Resources by 65.0% in the fourth quarter. Wellington Management Group LLP now owns 3,406,182 shares of the energy company’s stock worth $144,558,000 after buying an additional 1,342,145 shares during the last quarter. Encompass Capital Advisors LLC acquired a new position in shares of Matador Resources during the 4th quarter valued at about $53,249,000. First Trust Advisors LP increased its holdings in shares of Matador Resources by 103.3% during the 1st quarter. First Trust Advisors LP now owns 1,595,415 shares of the energy company’s stock valued at $100,798,000 after acquiring an additional 810,808 shares during the last quarter. Balyasny Asset Management L.P. raised its stake in shares of Matador Resources by 2,495.0% in the 4th quarter. Balyasny Asset Management L.P. now owns 552,856 shares of the energy company’s stock valued at $23,463,000 after acquiring an additional 531,551 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Matador Resources in the 1st quarter valued at approximately $30,904,000. 91.98% of the stock is owned by institutional investors and hedge funds.

About Matador Resources

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non?operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.