Morgan Stanley Issues Positive Forecast for Matador Resources (NYSE:MTDR) Stock Price

Matador Resources (NYSE:MTDR) had its price target boosted by Morgan Stanley from $60.00 to $62.00 in a research note published on Monday,Benzinga reports. The firm currently has an equal weight rating on the energy company’s stock.

A number of other research firms have also recently commented on MTDR. KeyCorp upped their price objective on Matador Resources from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. UBS Group boosted their price target on Matador Resources from $46.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. Mizuho cut their price target on Matador Resources from $74.00 to $73.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. Wells Fargo & Company cut their price target on Matador Resources from $80.00 to $74.00 and set an “overweight” rating for the company in a report on Monday, June 16th. Finally, TD Cowen raised Matador Resources to a “strong-buy” rating in a report on Monday, July 7th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Matador Resources presently has an average rating of “Moderate Buy” and a consensus target price of $67.60.

Matador Resources Stock Down 0.2%

Matador Resources stock opened at $46.83 on Monday. The stock has a market cap of $5.83 billion, a PE ratio of 6.86 and a beta of 1.49. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.81 and a current ratio of 0.85. Matador Resources has a one year low of $35.19 and a one year high of $64.04. The stock has a fifty day moving average of $49.63 and a 200 day moving average of $47.87.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings data on Tuesday, July 22nd. The energy company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.24. The company had revenue of $895.31 million during the quarter, compared to analysts’ expectations of $892.86 million. Matador Resources had a return on equity of 16.53% and a net margin of 22.57%. Matador Resources’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.05 earnings per share. As a group, sell-side analysts predict that Matador Resources will post 8.53 EPS for the current year.

Matador Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 15th will be paid a $0.3125 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.7%. Matador Resources’s dividend payout ratio is 18.30%.

Matador Resources declared that its board has authorized a share repurchase program on Wednesday, April 23rd that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the energy company to reacquire up to 7.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Matador Resources

In other Matador Resources news, CEO Joseph Wm Foran acquired 5,000 shares of the company’s stock in a transaction dated Friday, August 1st. The stock was purchased at an average price of $49.17 per share, with a total value of $245,850.00. Following the completion of the purchase, the chief executive officer directly owned 6,606 shares in the company, valued at approximately $324,817.02. The trade was a 311.33% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Matador Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Matador Resources by 7.6% during the first quarter. Vanguard Group Inc. now owns 13,511,643 shares of the energy company’s stock valued at $690,310,000 after buying an additional 956,090 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Matador Resources by 0.4% during the first quarter. Dimensional Fund Advisors LP now owns 5,464,857 shares of the energy company’s stock valued at $279,192,000 after buying an additional 20,134 shares during the last quarter. LSV Asset Management boosted its stake in Matador Resources by 45.7% during the second quarter. LSV Asset Management now owns 3,334,775 shares of the energy company’s stock valued at $159,135,000 after buying an additional 1,045,396 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in Matador Resources by 143.1% during the second quarter. Adage Capital Partners GP L.L.C. now owns 2,556,472 shares of the energy company’s stock valued at $121,995,000 after buying an additional 1,505,000 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in Matador Resources by 30.5% during the first quarter. Wellington Management Group LLP now owns 2,043,715 shares of the energy company’s stock valued at $104,413,000 after buying an additional 477,236 shares during the last quarter. 91.98% of the stock is owned by institutional investors.

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.