Matador Resources Company (NYSE:MTDR) Receives $65.93 Consensus Target Price from Brokerages

Matador Resources Company (NYSE:MTDR) has earned a consensus rating of “Moderate Buy” from the seventeen research firms that are presently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $65.9333.

Several equities analysts recently commented on the stock. Truist Financial cut their price target on shares of Matador Resources from $63.00 to $59.00 and set a “buy” rating on the stock in a report on Monday, August 10th. KeyCorp decreased their price objective on shares of Matador Resources from $73.00 to $68.00 and set an “overweight” rating for the company in a research note on Thursday, August 13th. Wells Fargo & Company upgraded Matador Resources from an “equal weight” rating to an “overweight” rating and dropped their target price for the company from $79.00 to $77.00 in a research report on Wednesday, September 2nd. Seaport Research Partners assumed coverage on Matador Resources in a research note on Thursday, September 3rd. They set a “neutral” rating on the stock. Finally, Stephens increased their price target on Matador Resources from $92.00 to $93.00 and gave the stock an “overweight” rating in a report on Tuesday, July 28th.

Insider Buying and Selling

In other news, CEO Joseph Foran purchased 10,000 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were purchased at an average price of $52.16 per share, for a total transaction of $521,600.00. Following the completion of the purchase, the chief executive officer owned 25,617 shares in the company, valued at approximately $1,336,182.72. This represents a 64.03% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP William Elsener bought 850 shares of the business’s stock in a transaction on Monday, August 10th. The shares were acquired at an average cost of $50.94 per share, for a total transaction of $43,299.00. Following the transaction, the executive vice president directly owned 114,879 shares in the company, valued at approximately $5,851,936.26. This trade represents a 0.75% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought a total of 23,144 shares of company stock valued at $1,211,793 over the last quarter. 5.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Matador Resources

Large investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in shares of Matador Resources in the 2nd quarter valued at $573,936,000. Dimensional Fund Advisors LP raised its position in shares of Matador Resources by 4.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,948,104 shares of the energy company’s stock worth $439,010,000 after acquiring an additional 277,839 shares in the last quarter. California State Teachers Retirement System lifted its stake in shares of Matador Resources by 5,019.7% during the 2nd quarter. California State Teachers Retirement System now owns 6,833,201 shares of the energy company’s stock worth $340,157,000 after purchasing an additional 6,699,733 shares during the last quarter. State Street Corp lifted its stake in shares of Matador Resources by 1.9% during the 4th quarter. State Street Corp now owns 4,617,864 shares of the energy company’s stock worth $195,982,000 after purchasing an additional 86,344 shares during the last quarter. Finally, LSV Asset Management boosted its position in Matador Resources by 8.8% during the fourth quarter. LSV Asset Management now owns 3,842,011 shares of the energy company’s stock valued at $163,055,000 after purchasing an additional 309,708 shares in the last quarter. Institutional investors own 91.98% of the company’s stock.

Matador Resources Stock Down 0.9%

NYSE MTDR opened at $61.09 on Tuesday. The company has a quick ratio of 0.62, a current ratio of 0.65 and a debt-to-equity ratio of 0.67. Matador Resources has a 52 week low of $37.14 and a 52 week high of $66.84. The firm has a market capitalization of $7.56 billion, a price-to-earnings ratio of 10.48 and a beta of 0.79. The company has a fifty day moving average of $54.02 and a two-hundred day moving average of $55.59.

Matador Resources (NYSE:MTDR) last announced its earnings results on Wednesday, August 5th. The energy company reported $2.61 earnings per share 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 the consensus estimate of $1.06 billion. Matador Resources had a net margin of 19.85% and a return on equity of 13.18%. The business’s revenue for the quarter was up 32.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.53 earnings per share. On average, analysts predict that Matador Resources will post 7.55 earnings per share for the current year.

Matador Resources Announces Dividend

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 $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Monday, August 10th. Matador Resources’s dividend payout ratio is currently 25.73%.

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.