Matador Resources (NYSE:MTDR) Plans $0.31 Quarterly Dividend

Matador Resources (NYSE:MTDR) announced a quarterly dividend on Wednesday, April 16th, RTT News reports. Investors of record on Friday, May 9th will be given a dividend of 0.3125 per share by the energy company on Friday, June 6th. This represents a $1.25 annualized dividend and a dividend yield of 3.11%.

Matador Resources has raised its dividend by an average of 89.5% per year over the last three years. Matador Resources has a dividend payout ratio of 15.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Matador Resources to earn $8.62 per share next year, which means the company should continue to be able to cover its $1.25 annual dividend with an expected future payout ratio of 14.5%.

Matador Resources Price Performance

MTDR traded up $1.20 during trading on Wednesday, hitting $40.15. 1,936,131 shares of the stock traded hands, compared to its average volume of 1,636,282. The business has a 50 day moving average price of $49.25 and a 200 day moving average price of $54.01. The company has a market cap of $5.03 billion, a price-to-earnings ratio of 5.62 and a beta of 2.74. Matador Resources has a twelve month low of $35.19 and a twelve month high of $67.51. 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 posted its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.83 EPS for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.05). The business had revenue of $970.37 million for the quarter, compared to analyst estimates of $967.10 million. Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. Equities research analysts forecast that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Insider Transactions at Matador Resources

In other news, Director Paul W. Harvey purchased 600 shares of the business’s stock in a transaction on Friday, February 21st. The shares were acquired at an average price of $55.20 per share, for a total transaction of $33,120.00. Following the completion of the acquisition, the director now owns 27,917 shares in the company, valued at approximately $1,541,018.40. The trade was a 2.20 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Van H. Singleton II acquired 2,000 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were purchased at an average price of $53.21 per share, with a total value of $106,420.00. Following the acquisition, the insider now owns 289,135 shares of the company’s stock, valued at approximately $15,384,873.35. This represents a 0.70 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 21,350 shares of company stock valued at $1,100,769. Corporate insiders own 6.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Wolfe Research upgraded shares of Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 price target on the stock in a research note on Friday, January 3rd. Stephens lowered their price target on shares of Matador Resources from $90.00 to $86.00 and set an “overweight” rating for the company in a report on Tuesday. Wells Fargo & Company cut their price objective on Matador Resources from $90.00 to $87.00 and set an “overweight” rating on the stock in a report on Tuesday, March 25th. JPMorgan Chase & Co. lowered their target price on Matador Resources from $65.00 to $61.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Finally, TD Cowen lifted their price target on Matador Resources from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $73.36.

Matador Resources Company Profile

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.