Matador Resources (NYSE:MTDR) Price Target Raised to $70.00

Matador Resources (NYSE:MTDR) had its target price raised by Mizuho from $67.00 to $70.00 in a research report released on Friday morning,Benzinga reports. They currently have an outperform rating on the energy company’s stock.

Several other equities analysts have also commented on MTDR. Morgan Stanley decreased their target price on shares of Matador Resources from $62.00 to $61.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 14th. Citigroup assumed coverage on Matador Resources in a report on Monday, December 8th. They issued a “buy” rating and a $53.00 target price for the company. William Blair initiated coverage on shares of Matador Resources in a report on Monday, August 25th. They set an “outperform” rating on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Matador Resources in a research note on Tuesday, October 14th. Finally, Wells Fargo & Company cut their price target on Matador Resources from $71.00 to $61.00 and set an “overweight” rating for the company in a research note on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $63.33.

Matador Resources Stock Down 1.3%

Shares of Matador Resources stock opened at $44.32 on Friday. The company has a market capitalization of $5.51 billion, a P/E ratio of 7.08 and a beta of 1.11. Matador Resources has a 1 year low of $35.19 and a 1 year high of $64.04. The business has a 50-day moving average of $41.85 and a two-hundred day moving average of $46.15. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.73 and a quick ratio of 0.69.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings results on Tuesday, October 21st. The energy company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.14. Matador Resources had a net margin of 20.46% and a return on equity of 14.80%. The company had revenue of $939.02 million during the quarter, compared to analysts’ expectations of $893.22 million. During the same period last year, the business earned $1.89 EPS. The business’s quarterly revenue was up 4.4% on a year-over-year basis. As a group, equities analysts predict that Matador Resources will post 8.53 EPS for the current year.

Matador Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Monday, November 10th were given a $0.375 dividend. This is a boost from Matador Resources’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Monday, November 10th. This represents a $1.50 annualized dividend and a yield of 3.4%. Matador Resources’s payout ratio is currently 23.96%.

Insider Buying and Selling at Matador Resources

In other Matador Resources news, EVP Robert T. Macalik acquired 1,500 shares of the company’s stock in a transaction dated Thursday, November 6th. The stock was purchased at an average price of $38.25 per share, with a total value of $57,375.00. Following the completion of the purchase, the executive vice president directly owned 35,039 shares in the company, valued at approximately $1,340,241.75. The trade was a 4.47% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Van H. Singleton II bought 1,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were bought at an average cost of $39.46 per share, with a total value of $39,460.00. Following the completion of the purchase, the insider directly owned 292,418 shares of the company’s stock, valued at $11,538,814.28. This represents a 0.34% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders bought 37,346 shares of company stock worth $1,463,396. 5.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Matador Resources

Hedge funds have recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Matador Resources by 298.5% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 534 shares of the energy company’s stock worth $25,000 after buying an additional 400 shares during the last quarter. Kestra Investment Management LLC grew its stake in shares of Matador Resources by 225.2% during the second quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock valued at $25,000 after buying an additional 358 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of Matador Resources by 93.0% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 554 shares of the energy company’s stock valued at $26,000 after buying an additional 267 shares during the last quarter. Allworth Financial LP raised its holdings in shares of Matador Resources by 182.0% in the second quarter. Allworth Financial LP now owns 564 shares of the energy company’s stock worth $27,000 after buying an additional 364 shares during the period. Finally, Ameritas Advisory Services LLC bought a new stake in shares of Matador Resources during the 2nd quarter worth approximately $29,000. Hedge funds and other institutional investors own 91.98% of the company’s stock.

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.