Matador Resources Company (NYSE:MTDR) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Matador Resources Company (NYSE:MTDR) have received an average rating of “Moderate Buy” from the sixteen analysts that are presently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $64.0769.

Several research analysts have weighed in on the stock. Mizuho increased their price target on shares of Matador Resources from $74.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Citigroup decreased their target price on Matador Resources from $77.00 to $72.00 and set a “buy” rating on the stock in a research report on Tuesday, May 26th. Wells Fargo & Company increased their target price on Matador Resources from $54.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 16th. KeyCorp increased their target price on Matador Resources from $61.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, April 2nd. Finally, Truist Financial reduced their price target on Matador Resources from $67.00 to $63.00 and set a “buy” rating for the company in a research note on Thursday.

Matador Resources Price Performance

Shares of MTDR opened at $53.81 on Monday. The firm has a market capitalization of $6.68 billion, a PE ratio of 13.83 and a beta of 0.74. The company’s 50-day moving average is $53.56 and its 200-day moving average is $52.91. Matador Resources has a fifty-two week low of $37.14 and a fifty-two week high of $66.84. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.73 and a quick ratio of 0.70.

Matador Resources (NYSE:MTDR) last posted its earnings results on Wednesday, May 6th. The energy company reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.29. Matador Resources had a net margin of 14.41% and a return on equity of 11.20%. The company had revenue of $941.60 million during the quarter, compared to analysts’ expectations of $871.57 million. During the same quarter last year, the company posted $1.99 EPS. Matador Resources’s quarterly revenue was down 33.8% compared to the same quarter last year. Equities analysts forecast that Matador Resources will post 6.99 EPS for the current year.

Matador Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 8th were issued a dividend of $0.375 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.8%. Matador Resources’s dividend payout ratio (DPR) is currently 38.56%.

Insider Transactions at Matador Resources

In other Matador Resources news, COO Glenn W. Stetson purchased 500 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were acquired at an average cost of $53.41 per share, with a total value of $26,705.00. Following the completion of the transaction, the chief operating officer owned 95,470 shares in the company, valued at $5,099,052.70. The trade was a 0.53% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joseph Wm Foran acquired 2,000 shares of the company’s stock in a transaction on Tuesday, June 9th. The stock was acquired at an average price of $53.07 per share, with a total value of $106,140.00. Following the purchase, the chief executive officer directly owned 11,479 shares in the company, valued at approximately $609,190.53. This represents a 21.10% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders bought 11,907 shares of company stock valued at $635,712. 5.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Matador Resources

A number of institutional investors have recently bought and sold shares of MTDR. Dimensional Fund Advisors LP increased its holdings in shares of Matador Resources by 4.2% during the first quarter. Dimensional Fund Advisors LP now owns 6,948,104 shares of the energy company’s stock worth $439,010,000 after purchasing an additional 277,839 shares during the period. State Street Corp boosted its stake in shares of Matador Resources by 1.9% in the fourth quarter. State Street Corp now owns 4,617,864 shares of the energy company’s stock valued at $195,982,000 after buying an additional 86,344 shares during the period. LSV Asset Management grew its position in Matador Resources by 8.8% during the fourth quarter. LSV Asset Management now owns 3,842,011 shares of the energy company’s stock worth $163,055,000 after buying an additional 309,708 shares in the last quarter. Wellington Management Group LLP grew its position in Matador Resources by 65.0% during the fourth quarter. Wellington Management Group LLP now owns 3,406,182 shares of the energy company’s stock worth $144,558,000 after buying an additional 1,342,145 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its stake in Matador Resources by 12.9% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 3,365,997 shares of the energy company’s stock worth $142,853,000 after acquiring an additional 385,000 shares during the period. Institutional investors own 91.98% of the company’s stock.

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.