Matador Resources (NYSE:MTDR) Price Target Raised to $93.00

Matador Resources (NYSE:MTDR) had its target price raised by Stephens from $92.00 to $93.00 in a research note released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the energy company’s stock.

A number of other brokerages have also recently issued reports on MTDR. BMO Capital Markets increased their target price on Matador Resources from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Monday, April 6th. Mizuho upped their price target on Matador Resources from $74.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Morgan Stanley dropped their price objective on Matador Resources from $75.00 to $66.00 and set an “equal weight” rating for the company in a research note on Monday, June 29th. Truist Financial cut their price objective on Matador Resources from $67.00 to $63.00 and set a “buy” rating for the company in a report on Thursday, July 16th. Finally, Zacks Research downgraded shares of Matador Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Twelve investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $66.00.

Matador Resources Price Performance

Shares of Matador Resources stock opened at $48.32 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.70 and a current ratio of 0.73. The firm’s 50-day simple moving average is $52.14 and its 200-day simple moving average is $53.46. Matador Resources has a twelve month low of $37.14 and a twelve month high of $66.84. The firm has a market cap of $6.00 billion, a P/E ratio of 12.42 and a beta of 0.74.

Matador Resources (NYSE:MTDR) last posted its earnings results on Wednesday, May 6th. The energy company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.29. The business had revenue of $941.60 million for 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.99 earnings per share. As a group, research analysts expect that Matador Resources will post 6.87 EPS for the current fiscal year.

Matador Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 10th will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Monday, August 10th. Matador Resources’s dividend payout ratio is presently 38.56%.

Insider Activity

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

Hedge Funds Weigh In On Matador Resources

Large investors have recently modified their holdings of the stock. Altshuler Shaham Ltd grew its position in Matador Resources by 36.7% during the first quarter. Altshuler Shaham Ltd now owns 748 shares of the energy company’s stock worth $47,000 after buying an additional 201 shares in the last quarter. Burford Brothers Inc. raised its holdings in Matador Resources by 0.8% in the 1st quarter. Burford Brothers Inc. now owns 26,798 shares of the energy company’s stock valued at $1,693,000 after acquiring an additional 225 shares in the last quarter. Fiduciary Trust Co raised its holdings in Matador Resources by 2.2% in the 3rd quarter. Fiduciary Trust Co now owns 11,821 shares of the energy company’s stock valued at $531,000 after acquiring an additional 253 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its position in shares of Matador Resources by 2.9% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 9,138 shares of the energy company’s stock valued at $388,000 after acquiring an additional 254 shares during the period. Finally, Verdence Capital Advisors LLC lifted its position in shares of Matador Resources by 3.5% during the 4th quarter. Verdence Capital Advisors LLC now owns 8,233 shares of the energy company’s stock valued at $349,000 after acquiring an additional 278 shares during the period. 91.98% of the stock is currently owned by institutional investors and hedge funds.

About Matador Resources

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.