TD Cowen Boosts Matador Resources (NYSE:MTDR) Price Target to $87.00

Matador Resources (NYSE:MTDR) had its price objective hoisted by TD Cowen from $85.00 to $87.00 in a report issued on Wednesday morning, Benzinga reports. TD Cowen currently has a buy rating on the energy company’s stock.

Other equities analysts have also issued reports about the stock. Wells Fargo & Company increased their price objective on shares of Matador Resources from $85.00 to $88.00 and gave the company an overweight rating in a research report on Wednesday, July 17th. JPMorgan Chase & Co. raised their price target on shares of Matador Resources from $76.00 to $77.00 and gave the stock an overweight rating in a research report on Thursday, April 11th. Mizuho raised their price target on shares of Matador Resources from $83.00 to $85.00 and gave the stock a buy rating in a research report on Friday, June 14th. Benchmark reduced their price target on shares of Matador Resources from $71.00 to $62.00 and set a buy rating for the company in a research report on Tuesday, April 23rd. Finally, Truist Financial reduced their price target on shares of Matador Resources from $91.00 to $86.00 and set a buy rating for the company in a research report on Monday, July 22nd. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $78.08.

Matador Resources Stock Performance

Shares of Matador Resources stock opened at $61.44 on Wednesday. The firm has a market capitalization of $7.67 billion, a P/E ratio of 8.42 and a beta of 3.29. The company has a quick ratio of 0.84, a current ratio of 0.86 and a debt-to-equity ratio of 0.41. The company has a 50 day moving average price of $60.27 and a 200 day moving average price of $61.29. Matador Resources has a 52 week low of $51.72 and a 52 week high of $71.08.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Tuesday, July 23rd. The energy company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.76 by $0.29. The firm had revenue of $847.14 million during the quarter, compared to analyst estimates of $822.55 million. Matador Resources had a net margin of 29.01% and a return on equity of 21.12%. Matador Resources’s revenue was up 32.8% on a year-over-year basis. During the same period last year, the firm posted $1.42 EPS. Sell-side analysts expect that Matador Resources will post 7.74 EPS for the current year.

Matador Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.80 annualized dividend and a yield of 1.30%. Matador Resources’s dividend payout ratio (DPR) is currently 10.96%.

Insiders Place Their Bets

In other news, EVP Bryan A. Erman acquired 1,750 shares of the business’s stock in a transaction on Friday, June 14th. The stock was bought at an average cost of $55.90 per share, for a total transaction of $97,825.00. Following the purchase, the executive vice president now owns 1,750 shares in the company, valued at $97,825. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Matador Resources

Several large investors have recently bought and sold shares of MTDR. Vanguard Personalized Indexing Management LLC grew its position in shares of Matador Resources by 32.9% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 23,221 shares of the energy company’s stock valued at $1,320,000 after purchasing an additional 5,747 shares in the last quarter. Wedge Capital Management L L P NC grew its position in shares of Matador Resources by 31.2% in the fourth quarter. Wedge Capital Management L L P NC now owns 92,100 shares of the energy company’s stock valued at $5,237,000 after purchasing an additional 21,924 shares in the last quarter. TFO Wealth Partners LLC grew its position in shares of Matador Resources by 310,920.0% in the fourth quarter. TFO Wealth Partners LLC now owns 15,551 shares of the energy company’s stock valued at $884,000 after purchasing an additional 15,546 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Matador Resources in the first quarter valued at approximately $828,000. Finally, Prevail Innovative Wealth Advisors LLC grew its position in Matador Resources by 28.6% in the first quarter. Prevail Innovative Wealth Advisors LLC now owns 37,163 shares of the energy company’s stock worth $2,481,000 after acquiring an additional 8,254 shares during the period. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

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.