Matador Resources Company (NYSE:MTDR) Receives $62.50 Average PT from Analysts

Shares of Matador Resources Company (NYSE:MTDR) have received an average recommendation of “Moderate Buy” from the seventeen research firms that are presently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $61.7692.

A number of equities research analysts recently commented on MTDR shares. UBS Group upped their price objective on Matador Resources from $46.00 to $50.00 and gave the company a “neutral” rating in a report on Friday, December 12th. Raymond James Financial reiterated an “outperform” rating and issued a $55.00 price target (down from $63.00) on shares of Matador Resources in a research report on Monday, October 20th. Morgan Stanley decreased their price objective on shares of Matador Resources from $62.00 to $61.00 and set an “equal weight” rating for the company in a report on Tuesday, October 14th. Bank of America cut their target price on shares of Matador Resources from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, November 3rd. Finally, Royal Bank Of Canada boosted their price target on shares of Matador Resources from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Wednesday, October 8th.

Matador Resources Stock Down 4.6%

Shares of NYSE:MTDR opened at $41.39 on Thursday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.73 and a quick ratio of 0.69. The stock has a market cap of $5.14 billion, a price-to-earnings ratio of 6.61 and a beta of 1.09. The company has a 50 day moving average of $41.63 and a 200-day moving average of $45.52. Matador Resources has a one year low of $35.19 and a one year high of $64.04.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Tuesday, October 21st. The energy company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.14. Matador Resources had a net margin of 20.46% and a return on equity of 14.80%. The firm had revenue of $939.02 million for the quarter, compared to analysts’ expectations of $893.22 million. During the same period last year, the firm earned $1.89 earnings per share. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, sell-side analysts forecast that Matador Resources will post 8.53 earnings per share for the current year.

Matador Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Monday, November 10th were given a dividend of $0.375 per share. This is an increase from Matador Resources’s previous quarterly dividend of $0.31. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Monday, November 10th. Matador Resources’s payout ratio is 23.96%.

Insiders Place Their Bets

In other Matador Resources news, Director Susan M. Ward bought 5,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was acquired at an average cost of $39.04 per share, with a total value of $195,200.00. Following the purchase, the director owned 14,923 shares in the company, valued at $582,593.92. This trade represents a 50.39% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert T. Macalik purchased 1,500 shares of Matador Resources stock in a transaction dated Thursday, November 6th. The stock was bought at an average price of $38.25 per share, with a total value of $57,375.00. Following the acquisition, the executive vice president directly owned 35,039 shares of the company’s stock, valued at approximately $1,340,241.75. This trade represents a 4.47% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired 37,346 shares of company stock worth $1,463,396 in the last three months. 5.80% of the stock is owned by corporate insiders.

Institutional Trading of Matador Resources

Institutional investors have recently modified their holdings of the company. Swiss Life Asset Management Ltd bought a new position in shares of Matador Resources during the third quarter worth about $243,000. CIBC Bancorp USA Inc. acquired a new stake in shares of Matador Resources in the third quarter valued at approximately $61,615,000. Tweedy Browne Co LLC raised its holdings in shares of Matador Resources by 105.3% in the third quarter. Tweedy Browne Co LLC now owns 15,489 shares of the energy company’s stock valued at $696,000 after purchasing an additional 7,944 shares during the last quarter. Hancock Whitney Corp lifted its position in shares of Matador Resources by 0.5% in the third quarter. Hancock Whitney Corp now owns 60,150 shares of the energy company’s stock worth $2,703,000 after purchasing an additional 315 shares in the last quarter. Finally, Armistice Capital LLC acquired a new position in Matador Resources during the third quarter worth $1,973,000. 91.98% of the stock is currently owned by institutional investors.

Matador Resources Company Profile

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.