Brokerages Set Matador Resources (NYSE:MTDR) PT at $73.79

Shares of Matador Resources (NYSE:MTDR) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen research firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $73.79.

Several research firms have recently weighed in on MTDR. TD Cowen raised their target price on shares of Matador Resources from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Royal Bank of Canada reiterated an “outperform” rating and set a $70.00 price target on shares of Matador Resources in a research note on Wednesday, January 15th. JPMorgan Chase & Co. dropped their price objective on shares of Matador Resources from $76.00 to $65.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Wells Fargo & Company decreased their target price on shares of Matador Resources from $90.00 to $87.00 and set an “overweight” rating for the company in a research note on Tuesday, March 25th. Finally, Truist Financial raised their price target on Matador Resources from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, January 13th.

Matador Resources Stock Performance

NYSE MTDR opened at $38.25 on Tuesday. The company has a fifty day moving average of $52.34 and a two-hundred day moving average of $54.70. The company has a market capitalization of $4.79 billion, a PE ratio of 5.36 and a beta of 2.74. Matador Resources has a 1 year low of $35.61 and a 1 year high of $71.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.93 and a quick ratio of 0.84.

Matador Resources (NYSE:MTDR) last announced its earnings results on Tuesday, February 18th. The energy company reported $1.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.05). The firm had revenue of $970.37 million during the quarter, compared to analyst estimates of $967.10 million. Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. As a group, analysts expect that Matador Resources will post 8.53 earnings per share for the current year.

Matador Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.3125 per share. This is a boost from Matador Resources’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 28th. This represents a $1.25 annualized dividend and a yield of 3.27%. Matador Resources’s payout ratio is presently 17.51%.

Insider Transactions at Matador Resources

In related news, insider Van H. Singleton II acquired 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were purchased at an average price of $52.72 per share, with a total value of $52,720.00. Following the completion of the acquisition, the insider now owns 290,135 shares in the company, valued at approximately $15,295,917.20. This represents a 0.35 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Timothy E. Parker bought 2,000 shares of the stock in a transaction on Wednesday, March 5th. The shares were bought at an average price of $44.67 per share, for a total transaction of $89,340.00. Following the completion of the transaction, the director now directly owns 83,790 shares of the company’s stock, valued at $3,742,899.30. This trade represents a 2.45 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 21,350 shares of company stock valued at $1,100,769. Corporate insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Matador Resources

Several institutional investors have recently modified their holdings of the company. LSV Asset Management raised its holdings in Matador Resources by 262.0% during the fourth quarter. LSV Asset Management now owns 1,517,308 shares of the energy company’s stock worth $85,364,000 after purchasing an additional 1,098,108 shares during the last quarter. Copeland Capital Management LLC increased its position in shares of Matador Resources by 145.2% in the fourth quarter. Copeland Capital Management LLC now owns 1,283,743 shares of the energy company’s stock valued at $72,223,000 after buying an additional 760,122 shares in the last quarter. Webs Creek Capital Management LP purchased a new position in shares of Matador Resources in the fourth quarter valued at $37,894,000. Yaupon Capital Management LP raised its stake in shares of Matador Resources by 565.4% during the 3rd quarter. Yaupon Capital Management LP now owns 744,037 shares of the energy company’s stock worth $36,770,000 after buying an additional 632,218 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of Matador Resources by 25.9% in the 4th quarter. Alliancebernstein L.P. now owns 2,698,606 shares of the energy company’s stock worth $151,824,000 after buying an additional 555,245 shares in the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

About Matador Resources

Matador Resources Company, an independent energy company, engages in the exploration, development, production, and acquisition of oil and natural gas resources in the United States. It operates through two segments, Exploration and Production; and Midstream. The company primarily holds interests in the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas.