Matador Resources Company (NYSE:MTDR) Stock Has Consensus Target Price of $66.80

Shares of Matador Resources Company (NYSE:MTDR) have been assigned an average rating of “Moderate Buy” from the seventeen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $66.80.

Several brokerages have recently issued reports on MTDR. Seaport Research Partners assumed coverage on shares of Matador Resources in a research report on Thursday, September 3rd. They issued a “neutral” rating on the stock. Roth Capital raised shares of Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 price target on the stock in a research note on Monday, June 22nd. Stephens lifted their price objective on Matador Resources from $92.00 to $93.00 and gave the stock an “overweight” rating in a report on Tuesday, July 28th. Mizuho raised Matador Resources to a “strong-buy” rating in a report on Friday, July 31st. Finally, Wells Fargo & Company raised Matador Resources from an “equal weight” rating to an “overweight” rating and reduced their price objective for the company from $79.00 to $77.00 in a research note on Wednesday, September 2nd.

Insider Buying and Selling at Matador Resources

In other Matador Resources news, CEO Joseph Foran acquired 555 shares of the business’s stock in a transaction on Wednesday, August 26th. The stock was bought at an average price of $54.49 per share, for a total transaction of $30,241.95. Following the acquisition, the chief executive officer owned 4,772 shares in the company, valued at approximately $260,026.28. The trade was a 13.16% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Christopher Calvert bought 2,500 shares of the firm’s stock in a transaction on Thursday, August 27th. The stock was acquired at an average cost of $56.64 per share, for a total transaction of $141,600.00. Following the completion of the purchase, the chief financial officer directly owned 44,000 shares in the company, valued at approximately $2,492,160. This represents a 6.02% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders acquired 23,144 shares of company stock worth $1,211,793. Insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MTDR. Congress Asset Management Co. increased its position in Matador Resources by 36.4% during the third quarter. Congress Asset Management Co. now owns 142,738 shares of the energy company’s stock worth $7,362,000 after purchasing an additional 38,119 shares during the last quarter. Cim Investment Management Inc. increased its holdings in shares of Matador Resources by 7.3% during the 2nd quarter. Cim Investment Management Inc. now owns 4,488 shares of the energy company’s stock worth $223,000 after buying an additional 307 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Matador Resources by 80.2% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 19,285 shares of the energy company’s stock worth $960,000 after buying an additional 8,581 shares during the last quarter. Tidal Investments LLC acquired a new position in Matador Resources in the second quarter valued at approximately $305,000. Finally, Engineers Gate Manager LP lifted its holdings in Matador Resources by 195.0% in the second quarter. Engineers Gate Manager LP now owns 14,179 shares of the energy company’s stock valued at $706,000 after acquiring an additional 9,373 shares during the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Matador Resources Stock Performance

Shares of MTDR stock opened at $52.82 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.62 and a debt-to-equity ratio of 0.67. Matador Resources has a 12-month low of $37.14 and a 12-month high of $66.84. The business’s 50 day moving average is $54.99 and its two-hundred day moving average is $55.59. The company has a market capitalization of $6.54 billion, a P/E ratio of 9.06 and a beta of 0.98.

Matador Resources (NYSE:MTDR) last announced its earnings results on Wednesday, August 5th. The energy company reported $2.61 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.53. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.06 billion. Matador Resources had a return on equity of 13.18% and a net margin of 19.85%.The business’s quarterly revenue was up 32.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.53 EPS. Analysts expect that Matador Resources will post 7.5 EPS for the current fiscal year.

Matador Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 8th. Stockholders of record on Monday, August 10th were given a $0.3750 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Monday, August 10th. Matador Resources’s dividend payout ratio is 25.73%.

Matador Resources Company Profile

Matador Resources Company is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas properties. Its operations are focused primarily on unconventional, or shale, formations, with oil, natural gas and natural gas liquids among its principal products.

The company’s main exploration and production activities are concentrated in the Delaware Basin, part of the Permian Basin in southeastern New Mexico and West Texas. Matador has also historically held interests in other U.S.