Matador Resources Company (NYSE:MTDR) Announces Dividend Increase – $0.44 Per Share

Matador Resources Company (NYSE:MTDR) declared a quarterly dividend on Wednesday, October 21st. Investors of record on Tuesday, November 10th will be given a dividend of $0.4375 per share by the energy company on Friday, December 4th. This represents a $1.75 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, November 10th. This is a 16.7% increase from Matador Resources’s previous quarterly dividend of $0.3750.

Matador Resources has a dividend payout ratio of 24.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Matador Resources to earn $9.41 per share next year, which means the company should continue to be able to cover its $1.50 annual dividend with an expected future payout ratio of 15.9%.

Matador Resources Stock Performance

NYSE MTDR traded down $1.01 during trading hours on Thursday, hitting $56.74. The company had a trading volume of 364,747 shares, compared to its average volume of 1,841,875. Matador Resources has a fifty-two week low of $37.14 and a fifty-two 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 business has a fifty day simple moving average of $56.22 and a 200-day simple moving average of $55.15. The firm has a market cap of $7.02 billion, a P/E ratio of 9.73 and a beta of 0.98.

Matador Resources (NYSE:MTDR) last announced its quarterly 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. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.06 billion. Matador Resources had a net margin of 19.85% and a return on equity of 13.18%. The company’s revenue for the quarter was up 32.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.53 earnings per share. Equities analysts predict that Matador Resources will post 7.62 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MTDR. Morgan Stanley boosted their target price on shares of Matador Resources from $66.00 to $69.00 and gave the company an “equal weight” rating in a research note on Thursday, October 15th. KeyCorp lifted their target price on Matador Resources from $68.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, September 15th. UBS Group boosted their price target on Matador Resources from $56.00 to $64.00 and gave the stock a “neutral” rating in a research report on Monday, September 14th. Truist Financial boosted their price target on Matador Resources from $59.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, October 14th. Finally, Wells Fargo & Company decreased their price target on Matador Resources from $77.00 to $76.00 and set an “overweight” rating for the company in a research note on Wednesday, October 14th. Twelve investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $67.20.

About Matador Resources

Matador Resources Company (NYSE: MTDR) 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, or shale, resource plays and operates across both upstream exploration and production and related midstream activities.

Matador’s principal exploration and production operations are located in the Delaware Basin in southeastern New Mexico and West Texas. Its midstream operations, conducted primarily through San Mateo Midstream, provide natural gas gathering and processing, crude oil and produced-water gathering, and water sourcing and disposal services that support the company’s operations and other producers in the region.

Founded in 2003 and headquartered in Dallas, Texas, Matador has historically expanded through development and acquisitions in U.S.