Brokerages Set Matador Resources (NYSE:MTDR) Target Price at $78.17

Matador Resources (NYSE:MTDR) has received an average recommendation of “Moderate Buy” from the thirteen brokerages that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $78.17.

A number of equities research analysts recently issued reports on MTDR shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $75.00 price target on shares of Matador Resources in a research note on Thursday, July 25th. Mizuho upped their target price on shares of Matador Resources from $83.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, June 14th. Wells Fargo & Company lifted their price target on Matador Resources from $88.00 to $89.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Truist Financial decreased their price objective on Matador Resources from $91.00 to $86.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Finally, Wolfe Research initiated coverage on Matador Resources in a report on Thursday, July 18th. They issued a “peer perform” rating for the company.

Matador Resources Trading Up 2.8 %

Shares of MTDR stock opened at $57.31 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $7.15 billion, a price-to-earnings ratio of 7.85 and a beta of 3.29. Matador Resources has a 12-month low of $50.79 and a 12-month high of $71.08. The stock’s 50-day moving average price is $58.87 and its 200-day moving average price is $61.62.

Matador Resources (NYSE:MTDR) last released its quarterly earnings data on Tuesday, July 23rd. The energy company reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.29. The business had revenue of $847.14 million for the quarter, compared to the consensus estimate of $822.55 million. Matador Resources had a return on equity of 21.12% and a net margin of 29.01%. The company’s revenue was up 32.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.42 EPS. Equities research analysts predict that Matador Resources will post 7.87 EPS for the current fiscal year.

Matador Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Thursday, August 15th. Matador Resources’s dividend payout ratio (DPR) is presently 10.96%.

Insider Transactions at Matador Resources

In related news, CEO Joseph Wm Foran purchased 2,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were purchased at an average cost of $55.96 per share, for a total transaction of $111,920.00. Following the completion of the acquisition, the chief executive officer now owns 35,251 shares in the company, valued at approximately $1,972,645.96. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CAO Robert T. Macalik acquired 500 shares of Matador Resources stock in a transaction on Friday, August 2nd. The shares were bought at an average cost of $54.50 per share, for a total transaction of $27,250.00. Following the acquisition, the chief accounting officer now directly owns 29,300 shares of the company’s stock, valued at approximately $1,596,850. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joseph Wm Foran bought 2,000 shares of the stock in a transaction on Friday, August 2nd. The stock was purchased at an average price of $55.96 per share, with a total value of $111,920.00. Following the completion of the acquisition, the chief executive officer now directly owns 35,251 shares in the company, valued at approximately $1,972,645.96. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 4,250 shares of company stock worth $236,995. 6.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Matador Resources

Several institutional investors have recently made changes to their positions in MTDR. Quarry LP lifted its stake in Matador Resources by 47.5% in the second quarter. Quarry LP now owns 779 shares of the energy company’s stock worth $46,000 after acquiring an additional 251 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in shares of Matador Resources by 5.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 197,905 shares of the energy company’s stock worth $11,795,000 after purchasing an additional 9,371 shares during the period. Creative Planning boosted its stake in shares of Matador Resources by 7.5% during the second quarter. Creative Planning now owns 39,952 shares of the energy company’s stock valued at $2,381,000 after purchasing an additional 2,771 shares in the last quarter. Algert Global LLC purchased a new position in Matador Resources during the second quarter valued at approximately $712,000. Finally, Scientech Research LLC bought a new position in Matador Resources in the second quarter worth approximately $456,000. Hedge funds and other institutional investors own 91.98% of the company’s stock.

About Matador Resources

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.