Matador Resources Announces Quarterly Dividend of $0.20 (NYSE:MTDR)

Matador Resources (NYSE:MTDR) declared a quarterly dividend on Thursday, July 18th, Wall Street Journal reports. Shareholders of record on Thursday, August 15th will be given a dividend of 0.20 per share by the energy company on Thursday, September 5th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Thursday, August 15th.

Matador Resources has a dividend payout ratio of 8.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Matador Resources to earn $9.46 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 8.5%.

Matador Resources Stock Down 1.5 %

Shares of NYSE:MTDR traded down $0.97 during midday trading on Friday, hitting $64.06. 1,503,345 shares of the company’s stock were exchanged, compared to its average volume of 1,523,155. Matador Resources has a 12 month low of $51.72 and a 12 month high of $71.08. The company has a market cap of $7.99 billion, a PE ratio of 8.91 and a beta of 3.29. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.89 and a quick ratio of 0.84. The stock has a 50 day moving average price of $60.36 and a 200-day moving average price of $61.10.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings data on Tuesday, April 23rd. The energy company reported $1.71 EPS for the quarter, topping the consensus estimate of $1.39 by $0.32. Matador Resources had a return on equity of 20.62% and a net margin of 28.89%. The firm had revenue of $787.70 million during the quarter, compared to the consensus estimate of $740.99 million. During the same period in the prior year, the business posted $1.50 earnings per share. The company’s quarterly revenue was up 40.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Matador Resources will post 7.96 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on MTDR shares. Mizuho raised their price objective on Matador Resources from $83.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, June 14th. KeyCorp upped their price objective on shares of Matador Resources from $71.00 to $76.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Roth Mkm reissued a “buy” rating and set a $66.00 target price on shares of Matador Resources in a research report on Monday, March 25th. JPMorgan Chase & Co. boosted their target price on Matador Resources from $76.00 to $77.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Finally, Truist Financial increased their price target on Matador Resources from $87.00 to $91.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $76.36.

Insiders Place Their Bets

In other news, EVP Bryan A. Erman purchased 1,750 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were purchased at an average price of $55.90 per share, with a total value of $97,825.00. Following the transaction, the executive vice president now directly owns 1,750 shares of the company’s stock, valued at $97,825. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 6.10% 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.