Matador Resources (NYSE:MTDR) Receives $75.14 Consensus Price Target from Brokerages

Shares of Matador Resources (NYSE:MTDR) have received a consensus recommendation of “Moderate Buy” from the fifteen analysts that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $74.60.

Several research analysts recently commented on the stock. Raymond James dropped their target price on shares of Matador Resources from $77.00 to $67.00 and set an “outperform” rating on the stock in a report on Monday. Mizuho dropped their target price on shares of Matador Resources from $74.00 to $73.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Wolfe Research upgraded shares of Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 target price on the stock in a report on Friday, January 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $70.00 target price on shares of Matador Resources in a report on Wednesday, January 15th. Finally, Wells Fargo & Company lifted their target price on shares of Matador Resources from $87.00 to $91.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th.

Insider Activity

In other Matador Resources news, EVP William Thomas Elsener bought 800 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were acquired at an average cost of $56.60 per share, for a total transaction of $45,280.00. Following the transaction, the executive vice president now owns 102,964 shares in the company, valued at approximately $5,827,762.40. The trade was a 0.78 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Paul W. Harvey bought 600 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were acquired at an average price of $55.20 per share, for a total transaction of $33,120.00. Following the completion of the transaction, the director now owns 27,917 shares in the company, valued at $1,541,018.40. This represents a 2.20 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 21,530 shares of company stock worth $1,119,092. Corporate insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Matador Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its position in Matador Resources by 12.0% in the third quarter. Franklin Resources Inc. now owns 1,008,421 shares of the energy company’s stock valued at $54,122,000 after buying an additional 107,827 shares in the last quarter. Loomis Sayles & Co. L P boosted its position in Matador Resources by 16.8% in the third quarter. Loomis Sayles & Co. L P now owns 455,662 shares of the energy company’s stock valued at $22,519,000 after buying an additional 65,487 shares in the last quarter. Stifel Financial Corp boosted its position in Matador Resources by 81.2% in the third quarter. Stifel Financial Corp now owns 30,304 shares of the energy company’s stock valued at $1,498,000 after buying an additional 13,583 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Matador Resources by 16.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 139,254 shares of the energy company’s stock valued at $8,088,000 after buying an additional 20,172 shares in the last quarter. Finally, HITE Hedge Asset Management LLC bought a new position in shares of Matador Resources in the third quarter worth about $10,526,000. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Matador Resources Stock Up 4.5 %

Matador Resources stock opened at $47.03 on Friday. The company has a market capitalization of $5.89 billion, a P/E ratio of 6.59 and a beta of 3.17. The firm’s fifty day simple moving average is $56.82 and its 200-day simple moving average is $55.19. The company has a current ratio of 0.93, a quick ratio of 0.84 and a debt-to-equity ratio of 0.61. Matador Resources has a 1-year low of $43.89 and a 1-year high of $71.08.

Matador Resources (NYSE:MTDR) last released its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.83 earnings per share for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.05). The business had revenue of $970.37 million for the quarter, compared to the consensus estimate of $967.10 million. Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. Sell-side analysts forecast that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a dividend of $0.3125 per share. This is a positive change from Matador Resources’s previous quarterly dividend of $0.25. This represents a $1.25 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend is Friday, February 28th. Matador Resources’s payout ratio is 17.51%.

Matador Resources Company Profile

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.