Matador Resources (NYSE:MTDR) Research Coverage Started at Seaport Research Partners

Seaport Research Partners initiated coverage on shares of Matador Resources (NYSE:MTDR) in a research report sent to investors on Thursday, Marketbeat.com reports. The firm issued a neutral rating on the energy company’s stock.

Several other analysts have also issued reports on the company. Morgan Stanley cut their price target on Matador Resources from $75.00 to $66.00 and set an “equal weight” rating for the company in a report on Monday, June 29th. Mizuho raised Matador Resources to a “strong-buy” rating in a research note on Friday, July 31st. KeyCorp cut their price objective on Matador Resources from $73.00 to $68.00 and set an “overweight” rating for the company in a research note on Thursday, August 13th. UBS Group boosted their price objective on Matador Resources from $54.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Finally, Citigroup reduced their target price on shares of Matador Resources from $68.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.93.

Matador Resources Trading Down 0.7%

Shares of Matador Resources stock opened at $59.33 on Thursday. Matador Resources has a 1-year low of $37.14 and a 1-year high of $66.84. The company’s fifty day simple moving average is $52.94 and its 200-day simple moving average is $55.21. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.65 and a quick ratio of 0.62. The stock has a market capitalization of $7.34 billion, a PE ratio of 10.18 and a beta of 0.79.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings data on Wednesday, August 5th. The energy company reported $2.61 EPS for the quarter, topping the consensus estimate of $2.08 by $0.53. Matador Resources had a return on equity of 13.18% and a net margin of 19.85%.The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the business posted $1.53 EPS. Matador Resources’s revenue was up 32.5% on a year-over-year basis. As a group, equities analysts anticipate that Matador Resources will post 7.51 earnings per share for the current year.

Matador Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 10th will be given a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Monday, August 10th. Matador Resources’s payout ratio is presently 25.73%.

Insiders Place Their Bets

In other Matador Resources news, CFO Christopher Calvert bought 2,500 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The stock was purchased at an average price of $56.64 per share, for a total transaction of $141,600.00. Following the completion of the transaction, the chief financial officer owned 44,000 shares of the company’s stock, valued at $2,492,160. This trade represents a 6.02% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Glenn Stetson bought 500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were acquired at an average cost of $53.41 per share, for a total transaction of $26,705.00. Following the purchase, the chief operating officer directly owned 95,470 shares in the company, valued at $5,099,052.70. This trade represents a 0.53% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders bought 25,644 shares of company stock worth $1,344,638. 5.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Matador Resources

Several hedge funds have recently modified their holdings of MTDR. V Square Quantitative Management LLC bought a new position in shares of Matador Resources during the first quarter worth $27,000. Kestra Investment Management LLC increased its holdings in Matador Resources by 225.2% in the 2nd quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock valued at $25,000 after acquiring an additional 358 shares during the last quarter. Center for Financial Planning Inc. bought a new stake in Matador Resources in the 1st quarter valued at $41,000. Altshuler Shaham Ltd lifted its stake in Matador Resources by 36.7% in the 1st quarter. Altshuler Shaham Ltd now owns 748 shares of the energy company’s stock worth $47,000 after purchasing an additional 201 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC purchased a new stake in Matador Resources in the 3rd quarter worth $35,000. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Matador Resources Company Profile

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.