Matador Resources Company (NYSE:MTDR) Receives $65.08 Consensus Target Price from Analysts

Shares of Matador Resources Company (NYSE:MTDR) have received an average rating of “Moderate Buy” from the sixteen ratings firms that are covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $64.3846.

MTDR has been the subject of several analyst reports. Roth Mkm upgraded shares of Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 target price for the company in a research note on Monday, June 22nd. Citigroup cut their price objective on shares of Matador Resources from $77.00 to $72.00 and set a “buy” rating on the stock in a report on Tuesday, May 26th. Wells Fargo & Company upped their price objective on shares of Matador Resources from $54.00 to $63.00 and gave the company an “equal weight” rating in a research report on Thursday, April 16th. Morgan Stanley lowered their target price on Matador Resources from $75.00 to $66.00 and set an “equal weight” rating for the company in a research note on Monday. Finally, TD Cowen lifted their target price on Matador Resources from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, March 17th.

Insider Buying and Selling at Matador Resources

In other Matador Resources news, COO Glenn W. Stetson bought 500 shares of Matador Resources stock in a transaction dated Tuesday, June 9th. The stock was bought at an average cost of $53.41 per share, for a total transaction of $26,705.00. Following the purchase, the chief operating officer owned 95,470 shares in the company, valued at $5,099,052.70. This represents a 0.53% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Joseph Wm Foran purchased 4,675 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were bought at an average cost of $52.36 per share, with a total value of $244,783.00. Following the transaction, the chief executive officer directly owned 6,997 shares of the company’s stock, valued at approximately $366,362.92. This represents a 201.34% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 11,907 shares of company stock valued at $635,712 in the last three months. Corporate insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Carlson Capital L.P. increased its position in shares of Matador Resources by 73.1% in the 1st quarter. Carlson Capital L.P. now owns 33,757 shares of the energy company’s stock worth $2,133,000 after purchasing an additional 14,257 shares during the last quarter. Norris Financial Group LLC acquired a new position in Matador Resources in the first quarter worth about $250,000. Cim Investment Management Inc. acquired a new position in Matador Resources in the first quarter worth about $264,000. Altshuler Shaham Ltd increased its holdings in Matador Resources by 36.7% in the first quarter. Altshuler Shaham Ltd now owns 748 shares of the energy company’s stock valued at $47,000 after buying an additional 201 shares during the last quarter. Finally, Smith Group Asset Management LLC increased its holdings in Matador Resources by 78.2% in the first quarter. Smith Group Asset Management LLC now owns 12,571 shares of the energy company’s stock valued at $794,000 after buying an additional 5,515 shares during the last quarter. 91.98% of the stock is owned by institutional investors and hedge funds.

Matador Resources Price Performance

Shares of NYSE MTDR opened at $49.01 on Thursday. Matador Resources has a 1-year low of $37.14 and a 1-year high of $66.84. The business has a 50-day moving average of $55.53 and a 200-day moving average of $52.08. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.73 and a quick ratio of 0.70. The company has a market capitalization of $6.09 billion, a price-to-earnings ratio of 12.60 and a beta of 0.74.

Matador Resources (NYSE:MTDR) last announced its earnings results on Wednesday, May 6th. The energy company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.24 by $0.29. The business had revenue of $941.60 million for the quarter, compared to the consensus estimate of $871.57 million. Matador Resources had a return on equity of 11.20% and a net margin of 14.41%.The company’s revenue was down 33.8% on a year-over-year basis. During the same period last year, the business posted $1.99 EPS. On average, equities analysts anticipate that Matador Resources will post 7.25 EPS for the current fiscal year.

Matador Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 8th were issued a dividend of $0.375 per share. The ex-dividend date was Friday, May 8th. This represents a $1.50 annualized dividend and a yield of 3.1%. Matador Resources’s payout ratio is currently 38.56%.

About Matador Resources

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.