Matador Resources Company (NYSE:MTDR) Stock Has Average Price Target of $66.80 According to Analysts

Shares of Matador Resources Company (NYSE:MTDR) have earned an average rating of “Moderate Buy” from the seventeen ratings firms that are presently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $66.80.

Several research analysts have recently issued reports on MTDR shares. KeyCorp raised their target price on shares of Matador Resources from $68.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, September 15th. Stifel Nicolaus initiated coverage on shares of Matador Resources in a report on Thursday, September 10th. They issued a “buy” rating and a $66.00 price objective on the stock. Stephens lifted their target price on shares of Matador Resources from $92.00 to $93.00 and gave the stock an “overweight” rating in a report on Tuesday, July 28th. Wells Fargo & Company raised Matador Resources from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $79.00 to $77.00 in a research note on Wednesday, September 2nd. Finally, UBS Group raised their price target on Matador Resources from $56.00 to $64.00 and gave the stock a “neutral” rating in a research report on Monday, September 14th.

Matador Resources Trading Down 0.4%

MTDR stock opened at $54.27 on Friday. The company has a market cap of $6.72 billion, a P/E ratio of 9.31 and a beta of 0.98. Matador Resources has a twelve month low of $37.14 and a twelve month high of $66.84. The company has a quick ratio of 0.62, a current ratio of 0.65 and a debt-to-equity ratio of 0.67. The business has a fifty day moving average of $55.20 and a 200-day moving average of $55.55.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings results on Wednesday, August 5th. The energy company reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.53. The business 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 firm’s quarterly revenue was up 32.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.53 earnings per share. As a group, equities research analysts expect that Matador Resources will post 7.50 EPS for the current year.

Matador Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 8th. Shareholders of record on Monday, August 10th were paid a $0.3750 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $1.50 annualized dividend and a yield of 2.8%. Matador Resources’s dividend payout ratio is presently 25.73%.

Insiders Place Their Bets

In related news, CFO Christopher Calvert bought 2,500 shares of Matador Resources stock in a transaction on Thursday, August 27th. The shares were purchased at an average price of $56.64 per share, for a total transaction of $141,600.00. Following the completion of the acquisition, the chief financial officer owned 44,000 shares in the company, valued at approximately $2,492,160. This represents a 6.02% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joseph Foran bought 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The shares were bought at an average price of $52.16 per share, with a total value of $521,600.00. Following the completion of the transaction, the chief executive officer directly owned 25,617 shares in the company, valued at approximately $1,336,182.72. This trade represents a 64.03% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have purchased 23,144 shares of company stock worth $1,211,793. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Matador Resources

Several large investors have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Matador Resources during the 2nd quarter worth approximately $573,936,000. Dimensional Fund Advisors LP lifted its stake in Matador Resources by 4.2% in the first quarter. Dimensional Fund Advisors LP now owns 6,948,104 shares of the energy company’s stock valued at $439,010,000 after buying an additional 277,839 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Matador Resources by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 2,236,457 shares of the energy company’s stock valued at $94,942,000 after buying an additional 18,729 shares during the period. Clearbridge Investments LLC boosted its holdings in shares of Matador Resources by 0.3% in the fourth quarter. Clearbridge Investments LLC now owns 1,777,883 shares of the energy company’s stock valued at $75,453,000 after buying an additional 5,529 shares during the period. Finally, First Trust Advisors LP increased its position in shares of Matador Resources by 103.3% during the first quarter. First Trust Advisors LP now owns 1,595,415 shares of the energy company’s stock worth $100,798,000 after acquiring an additional 810,808 shares in the last quarter. Institutional investors own 91.98% of the company’s stock.

Matador Resources Company Profile

Matador Resources Company is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas properties. Its operations are focused primarily on unconventional, or shale, formations, with oil, natural gas and natural gas liquids among its principal products.

The company’s main exploration and production activities are concentrated in the Delaware Basin, part of the Permian Basin in southeastern New Mexico and West Texas. Matador has also historically held interests in other U.S.