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

Shares of Matador Resources Company (NYSE:MTDR) have been assigned an average recommendation of “Moderate Buy” from the seventeen research firms that are covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation, twelve have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $66.80.

Several brokerages have commented on MTDR. Mizuho upgraded shares of Matador Resources to a “strong-buy” rating in a research report on Friday, July 31st. Wall Street Zen raised Matador Resources from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 26th. Weiss Ratings downgraded Matador Resources from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, September 4th. KeyCorp increased their target price on Matador Resources from $68.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, September 15th. Finally, Roth Capital upgraded Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Monday, June 22nd.

Insider Buying and Selling

In other news, CEO Joseph Foran bought 10,000 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were bought at an average cost of $52.16 per share, for a total transaction of $521,600.00. Following the completion of the acquisition, the chief executive officer 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP William Elsener purchased 850 shares of Matador Resources stock in a transaction dated Monday, August 10th. The shares were purchased at an average cost of $50.94 per share, for a total transaction of $43,299.00. Following the completion of the transaction, the executive vice president owned 114,879 shares of the company’s stock, valued at approximately $5,851,936.26. This represents a 0.75% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 23,144 shares of company stock valued at $1,211,793 in the last 90 days. 5.90% of the stock is owned by insiders.

Institutional Trading of Matador Resources

A number of large investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Matador Resources during the 2nd quarter worth $573,936,000. Dimensional Fund Advisors LP grew 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 acquiring an additional 277,839 shares during the period. First Trust Advisors LP increased its holdings in shares of Matador Resources by 103.3% in 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. Geode Capital Management LLC increased 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 worth $94,942,000 after acquiring an additional 18,729 shares in the last quarter. Finally, Clearbridge Investments LLC raised its position in shares of Matador Resources by 0.3% during the fourth quarter. Clearbridge Investments LLC now owns 1,777,883 shares of the energy company’s stock worth $75,453,000 after purchasing an additional 5,529 shares during the period. Institutional investors own 91.98% of the company’s stock.

Matador Resources Stock Performance

Shares of NYSE:MTDR opened at $53.07 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.62 and a debt-to-equity ratio of 0.67. Matador Resources has a 1-year low of $37.14 and a 1-year high of $66.84. The stock has a market capitalization of $6.57 billion, a P/E ratio of 9.10 and a beta of 0.98. The business has a 50-day moving average price of $54.78 and a two-hundred day moving average price of $55.65.

Matador Resources (NYSE:MTDR) last issued its 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. Matador Resources had a net margin of 19.85% and a return on equity of 13.18%. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the firm earned $1.53 EPS. The company’s revenue for the quarter was up 32.5% on a year-over-year basis. Equities analysts predict that Matador Resources will post 7.54 earnings per share for the current year.

Matador Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 8th. Investors of record on Monday, August 10th were given a $0.3750 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Monday, August 10th. Matador Resources’s dividend payout ratio (DPR) is currently 25.73%.

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.