Matador Resources (NYSE:MTDR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Matador Resources (NYSE:MTDR) from a buy rating to a strong-buy rating in a research note released on Saturday morning,Wall Street Zen reports.

Other analysts have also issued research reports about the stock. Weiss Ratings lowered shares of Matador Resources from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, September 4th. Citigroup decreased their target price on shares of Matador Resources from $68.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th. Truist Financial lowered their price target on shares of Matador Resources from $63.00 to $59.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. Stephens boosted their price target on shares of Matador Resources from $92.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 28th. Finally, UBS Group increased their price objective on shares of Matador Resources from $56.00 to $64.00 and gave the stock a “neutral” rating in a research note on Monday, September 14th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Matador Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.80.

Matador Resources Stock Down 0.2%

NYSE:MTDR opened at $51.45 on Friday. The stock has a 50-day simple moving average of $54.71 and a 200 day simple moving average of $55.80. Matador Resources has a 52-week low of $37.14 and a 52-week high of $66.84. The company has a market cap of $6.37 billion, a PE ratio of 8.83 and a beta of 0.79. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.62 and a current ratio of 0.65.

Matador Resources (NYSE:MTDR) last released its earnings results on Wednesday, August 5th. The energy company reported $2.61 EPS for the quarter, beating the consensus estimate of $2.08 by $0.53. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Matador Resources had a return on equity of 13.18% and a net margin of 19.85%.The business’s quarterly revenue was up 32.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.53 EPS. On average, sell-side analysts expect that Matador Resources will post 7.39 EPS for the current fiscal year.

Matador Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 8th. Shareholders of record on Monday, August 10th were given a dividend of $0.3750 per share. This represents a $1.50 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Monday, August 10th. Matador Resources’s payout ratio is 25.73%.

Insider Buying and Selling at Matador Resources

In other Matador Resources news, CEO Joseph Foran acquired 555 shares of the business’s stock in a transaction dated Wednesday, August 26th. The stock was bought at an average cost of $54.49 per share, with a total value of $30,241.95. Following the completion of the transaction, the chief executive officer directly owned 4,772 shares in the company, valued at approximately $260,026.28. This represents a 13.16% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP William Elsener bought 850 shares of Matador Resources stock in a transaction dated Monday, August 10th. The shares were acquired at an average price of $50.94 per share, with a total value of $43,299.00. Following the completion of the purchase, the executive vice president directly owned 114,879 shares in the company, valued at $5,851,936.26. This trade represents a 0.75% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 23,144 shares of company stock worth $1,211,793 over the last 90 days. Company insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Matador Resources

Several institutional investors and hedge funds have recently modified their holdings of MTDR. Sequoia Financial Advisors LLC lifted its stake in shares of Matador Resources by 80.2% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 19,285 shares of the energy company’s stock worth $960,000 after buying an additional 8,581 shares during the last quarter. Tidal Investments LLC bought a new position in Matador Resources in the 2nd quarter valued at about $305,000. Engineers Gate Manager LP raised its holdings in Matador Resources by 195.0% in the 2nd quarter. Engineers Gate Manager LP now owns 14,179 shares of the energy company’s stock valued at $706,000 after acquiring an additional 9,373 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in Matador Resources during the second quarter worth approximately $54,000. Finally, IFP Advisors Inc boosted its holdings in shares of Matador Resources by 62.2% during the second quarter. IFP Advisors Inc now owns 1,215 shares of the energy company’s stock worth $60,000 after acquiring an additional 466 shares during the period. 91.98% of the stock is currently owned by institutional investors and hedge funds.

About Matador Resources

Matador Resources Company is an independent energy company engaged in the exploration, development, production and acquisition of oil, natural gas and natural gas liquids. The company focuses primarily on unconventional, horizontal drilling and development activities in the United States.

Matador’s principal operations are concentrated in the Delaware Basin, a sub-basin of the Permian Basin in southeastern New Mexico and West Texas. Its activities include drilling and completing wells, producing hydrocarbons, and managing mineral and leasehold interests associated with its development programs.

Through its midstream operations, including San Mateo Midstream, Matador also provides gathering, processing, transportation and water-handling services that support oil and natural gas production in the Delaware Basin.