Matador Resources (NYSE:MTDR) Price Target Raised to $64.00

Matador Resources (NYSE:MTDR) had its price target increased by UBS Group from $56.00 to $64.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a neutral rating on the energy company’s stock.

Several other equities research analysts have also recently weighed in on MTDR. Morgan Stanley reduced their price objective on Matador Resources from $75.00 to $66.00 and set an “equal weight” rating on the stock in a research note on Monday, June 29th. Mizuho upgraded Matador Resources to a “strong-buy” rating in a report on Friday, July 31st. Stephens lifted their target price on Matador Resources from $92.00 to $93.00 and gave the stock an “overweight” rating in a report on Tuesday, July 28th. Zacks Research cut shares of Matador Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Finally, Weiss Ratings downgraded shares of Matador Resources from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, September 4th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Matador Resources has a consensus rating of “Moderate Buy” and a consensus price target of $66.80.

Matador Resources Stock Performance

Shares of NYSE:MTDR opened at $57.80 on Monday. The firm has a fifty day simple moving average of $54.57 and a two-hundred day simple moving average of $55.84. Matador Resources has a 52 week low of $37.14 and a 52 week high of $66.84. The company has a quick ratio of 0.62, a current ratio of 0.65 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $7.15 billion, a P/E ratio of 9.91 and a beta of 0.79.

Matador Resources (NYSE:MTDR) last announced its earnings results on Wednesday, August 5th. The energy company reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.53. Matador Resources had a net margin of 19.85% and a return on equity of 13.18%. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the prior year, the company earned $1.53 EPS. The business’s revenue was up 32.5% compared to the same quarter last year. On average, analysts expect that Matador Resources will post 7.39 earnings per share for the current fiscal year.

Matador Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 8th. Shareholders of record on Monday, August 10th were paid a $0.375 dividend. The ex-dividend date was Monday, August 10th. This represents a $1.50 dividend on an annualized basis and a yield of 2.6%. Matador Resources’s dividend payout ratio (DPR) is presently 25.73%.

Insider Transactions at Matador Resources

In other Matador Resources news, CFO Christopher Calvert bought 2,500 shares of the firm’s stock in a transaction dated Thursday, August 27th. The stock was acquired at an average cost 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 in the company, valued at $2,492,160. This trade represents a 6.02% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP William Elsener bought 850 shares of the stock in a transaction dated Monday, August 10th. The shares were bought at an average cost of $50.94 per share, with a total value of $43,299.00. Following the completion of the purchase, the executive vice president directly owned 114,879 shares of the company’s stock, valued at approximately $5,851,936.26. This trade represents a 0.75% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders acquired 23,144 shares of company stock worth $1,211,793. 5.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Matador Resources

A number of hedge funds have recently added to or reduced their stakes in the stock. Great Lakes Advisors LLC purchased a new position in Matador Resources during the 2nd quarter worth approximately $605,000. Quantbot Technologies LP acquired a new stake in shares of Matador Resources in the second quarter worth $3,682,000. Hsbc Holdings PLC increased its stake in shares of Matador Resources by 935.4% in the second quarter. Hsbc Holdings PLC now owns 56,096 shares of the energy company’s stock worth $2,824,000 after acquiring an additional 50,678 shares during the period. BlackRock Inc. purchased a new position in shares of Matador Resources during the second quarter worth $573,936,000. Finally, Morningstar Investment Management LLC purchased a new position in shares of Matador Resources during the first quarter worth $2,630,000. 91.98% of the stock is currently owned by institutional investors.

About Matador Resources

Matador Resources Company is an independent energy company engaged in the exploration, development, production and acquisition of oil, natural gas and natural gas liquids. The company focuses primarily on unconventional, horizontal drilling and development activities in the United States.

Matador’s principal operations are concentrated in the Delaware Basin, a sub-basin of the Permian Basin in southeastern New Mexico and West Texas. Its activities include drilling and completing wells, producing hydrocarbons, and managing mineral and leasehold interests associated with its development programs.

Through its midstream operations, including San Mateo Midstream, Matador also provides gathering, processing, transportation and water-handling services that support oil and natural gas production in the Delaware Basin.