Matador Resources Company (MTDR) to Issue Quarterly Dividend of $0.38 on September 8th

Matador Resources Company (NYSE:MTDR) declared a quarterly dividend on Wednesday, July 22nd. Stockholders of record on Monday, August 10th will be paid a dividend of 0.375 per share by the energy company on Tuesday, September 8th. This represents a c) annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, August 10th.

Matador Resources has a dividend payout ratio of 24.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Matador Resources to earn $7.87 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 19.1%.

Matador Resources Stock Down 6.0%

Shares of NYSE MTDR opened at $51.69 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.73 and a debt-to-equity ratio of 0.59. Matador Resources has a 52 week low of $37.14 and a 52 week high of $66.84. The firm’s fifty day moving average is $53.28 and its 200 day moving average is $53.22. The company has a market cap of $6.42 billion, a price-to-earnings ratio of 13.29 and a beta of 0.74.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.29. The business had revenue of $941.60 million during the quarter, compared to analysts’ expectations of $871.57 million. Matador Resources had a net margin of 14.41% and a return on equity of 11.20%. The firm’s revenue for the quarter was down 33.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.99 EPS. On average, equities research analysts expect that Matador Resources will post 6.84 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Morgan Stanley dropped their target price on shares of Matador Resources from $75.00 to $66.00 and set an “equal weight” rating for the company in a report on Monday, June 29th. UBS Group lowered their price target on Matador Resources from $62.00 to $56.00 and set a “neutral” rating for the company in a research report on Tuesday. Wells Fargo & Company increased their price objective on Matador Resources from $54.00 to $63.00 and gave the stock an “equal weight” rating in a report on Thursday, April 16th. Zacks Research lowered Matador Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Finally, Truist Financial reduced their target price on Matador Resources from $67.00 to $63.00 and set a “buy” rating on the stock in a research note on Thursday, July 16th. Eleven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $64.08.

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.