Analysts Set Matador Resources Company (NYSE:MTDR) Target Price at $66.07

Shares of Matador Resources Company (NYSE:MTDR) have been given an average recommendation of “Moderate Buy” by the seventeen analysts that are covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $66.0714.

A number of equities research analysts have issued reports on the company. UBS Group raised their target price on Matador Resources from $54.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Truist Financial lowered their price target on shares of Matador Resources from $63.00 to $59.00 and set a “buy” rating for the company in a research report on Monday, August 10th. Citigroup dropped their price objective on shares of Matador Resources from $68.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. Zacks Research lowered shares of Matador Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Finally, Mizuho raised shares of Matador Resources to a “strong-buy” rating in a research note on Friday, July 31st.

Matador Resources Stock Up 2.3%

Shares of Matador Resources stock opened at $57.23 on Friday. The stock has a market capitalization of $7.08 billion, a price-to-earnings ratio of 9.82 and a beta of 0.76. Matador Resources has a twelve month low of $37.14 and a twelve month high of $66.84. The company has a current ratio of 0.65, a quick ratio of 0.62 and a debt-to-equity ratio of 0.67. The business’s 50 day simple moving average is $51.21 and its 200-day simple moving average is $54.22.

Matador Resources (NYSE:MTDR) last released its quarterly earnings data on Wednesday, August 5th. The energy company reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.53. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.06 billion. Matador Resources had a return on equity of 13.18% and a net margin of 19.85%.The business’s revenue for the quarter was up 32.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.53 EPS. Equities research analysts forecast that Matador Resources will post 7.19 earnings per share for the current year.

Matador Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 10th will be given a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 2.6%. The ex-dividend date is Monday, August 10th. Matador Resources’s dividend payout ratio (DPR) is currently 25.73%.

Insiders Place Their Bets

In related news, CEO Joseph Wm Foran acquired 10,000 shares of Matador Resources stock in a transaction that occurred on Wednesday, August 12th. The stock was acquired at an average price of $52.16 per share, with a total value of $521,600.00. Following the completion of the acquisition, the chief executive officer directly owned 25,617 shares of the company’s stock, valued at $1,336,182.72. This trade represents a 64.03% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Christopher P. Calvert acquired 1,500 shares of Matador Resources stock in a transaction that occurred on Friday, May 29th. The stock was bought at an average cost of $53.24 per share, with a total value of $79,860.00. Following the acquisition, the chief financial officer directly owned 41,500 shares of the company’s stock, valued at approximately $2,209,460. This trade represents a 3.75% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have purchased 31,596 shares of company stock worth $1,654,207. Insiders own 5.90% of the company’s stock.

Institutional Trading of Matador Resources

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Empowered Funds LLC acquired a new stake in shares of Matador Resources in the 2nd quarter worth approximately $3,729,000. United Capital Financial Advisors LLC bought a new position in shares of Matador Resources in the second quarter valued at approximately $280,000. Jefferies Financial Group Inc. bought a new position in shares of Matador Resources in the second quarter valued at approximately $4,866,000. Public Employees Retirement System of Ohio acquired a new position in shares of Matador Resources during the second quarter valued at approximately $1,782,000. Finally, Corient Private Wealth LP acquired a new position in shares of Matador Resources during the second quarter valued at approximately $605,000. 91.98% of the stock is currently owned by institutional investors.

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.