Matador Resources (NYSE:MTDR) Price Target Raised to $73.00

Matador Resources (NYSE:MTDR) had its price objective increased by KeyCorp from $68.00 to $73.00 in a report issued on Tuesday morning,Benzinga reports. They currently have an overweight rating on the energy company’s stock.

Several other analysts have also recently issued reports on the company. Stifel Nicolaus started coverage on Matador Resources in a report on Thursday, September 10th. They set a “buy” rating and a $66.00 price objective on the stock. Seaport Research Partners began coverage on shares of Matador Resources in a report on Thursday, September 3rd. They issued a “neutral” rating for the company. Wall Street Zen upgraded shares of Matador Resources from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Zacks Research downgraded shares of Matador Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Finally, Roth Capital raised shares of Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 price target on the stock in a research note on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Matador Resources presently has an average rating of “Moderate Buy” and an average target price of $66.80.

Matador Resources Trading Up 0.0%

Shares of Matador Resources stock opened at $57.75 on Tuesday. 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 50-day moving average price of $54.69 and a 200-day moving average price of $55.89. The firm has a market cap of $7.15 billion, a price-to-earnings ratio of 9.91 and a beta of 0.79.

Matador Resources (NYSE:MTDR) last posted its earnings results on Wednesday, August 5th. The energy company reported $2.61 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.53. Matador Resources had a return on equity of 13.18% and a net margin of 19.85%.The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the business earned $1.53 earnings per share. The firm’s revenue for the quarter was up 32.5% on a year-over-year basis. Equities research analysts anticipate that Matador Resources will post 7.39 EPS for the current fiscal year.

Matador Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 8th. Stockholders of record on Monday, August 10th were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Monday, August 10th. Matador Resources’s dividend payout ratio (DPR) is presently 25.73%.

Insider Transactions at Matador Resources

In related news, CFO Christopher Calvert bought 2,500 shares of the business’s stock in a transaction dated Thursday, August 27th. The shares were purchased at an average price of $56.64 per share, with a total value of $141,600.00. Following the transaction, the chief financial officer owned 44,000 shares in the company, valued at $2,492,160. This trade represents a 6.02% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP William Elsener bought 850 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were bought at an average cost of $50.94 per share, for a total transaction of $43,299.00. Following the transaction, the executive vice president owned 114,879 shares in the company, valued at approximately $5,851,936.26. The trade was a 0.75% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders purchased 23,144 shares of company stock worth $1,211,793. 5.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MTDR. Great Lakes Advisors LLC bought a new position in Matador Resources in the 2nd quarter worth about $605,000. Quantbot Technologies LP bought a new stake in shares of Matador Resources during the second quarter valued at approximately $3,682,000. Hsbc Holdings PLC raised its stake in shares of Matador Resources by 935.4% during the second quarter. Hsbc Holdings PLC now owns 56,096 shares of the energy company’s stock valued at $2,824,000 after acquiring an additional 50,678 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of Matador Resources in the second quarter valued at approximately $573,936,000. Finally, Morningstar Investment Management LLC purchased a new stake in shares of Matador Resources in the first quarter valued at approximately $2,630,000. Institutional investors own 91.98% of the company’s stock.

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.