Matador Resources (NYSE:MTDR) Trading Up 6.2%

Shares of Matador Resources (NYSE:MTDR) were up 6.2% on Monday . The company traded as high as $30.40 and last traded at $30.40. Approximately 3,477 shares changed hands during mid-day trading, a decline of 100% from the average daily volume of 1,746,770 shares. The stock had previously closed at $28.63.

A number of research analysts have recently weighed in on MTDR shares. Zacks Investment Research raised Matador Resources from a “hold” rating to a “strong-buy” rating and set a $37.00 price objective on the stock in a report on Tuesday, June 29th. Truist Securities raised their target price on Matador Resources from $43.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, July 1st. Capital One Financial reaffirmed an “overweight” rating on shares of Matador Resources in a report on Wednesday, May 26th. Wells Fargo & Company raised their target price on Matador Resources from $26.00 to $34.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 19th. Finally, MKM Partners raised Matador Resources from a “neutral” rating to a “buy” rating and raised their target price for the stock from $34.00 to $40.00 in a report on Friday, July 16th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $36.21.

The company has a debt-to-equity ratio of 0.96, a current ratio of 0.79 and a quick ratio of 0.76. The stock’s fifty day moving average is $29.65 and its 200-day moving average is $28.68. The stock has a market cap of $3.38 billion, a PE ratio of -16.49 and a beta of 4.80.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Monday, July 26th. The energy company reported $1.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.35. Matador Resources had a negative net margin of 18.98% and a positive return on equity of 15.69%. The firm had revenue of $357.43 million during the quarter, compared to analyst estimates of $356.18 million. During the same quarter in the prior year, the firm posted ($0.03) earnings per share. Matador Resources’s quarterly revenue was up 468.1% on a year-over-year basis. On average, sell-side analysts expect that Matador Resources will post 3.56 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 3rd. Investors of record on Thursday, August 12th were issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend was Wednesday, August 11th. Matador Resources’s dividend payout ratio is currently 17.86%.

In other news, CEO Joseph Wm Foran bought 3,000 shares of Matador Resources stock in a transaction that occurred on Wednesday, August 4th. The shares were purchased at an average price of $28.04 per share, with a total value of $84,120.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Craig N. Adams purchased 1,000 shares of the company’s stock in a transaction on Tuesday, August 3rd. The stock was bought at an average price of $29.33 per share, for a total transaction of $29,330.00. Following the completion of the purchase, the chief operating officer now directly owns 147,427 shares of the company’s stock, valued at $4,324,033.91. The disclosure for this purchase can be found here. Insiders acquired 5,000 shares of company stock worth $138,700 in the last ninety days. 6.80% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the company. Cookson Peirce & Co. Inc. purchased a new stake in shares of Matador Resources in the second quarter valued at about $3,107,000. Carlson Capital L P purchased a new stake in shares of Matador Resources in the first quarter valued at about $3,764,000. BlackRock Inc. raised its holdings in shares of Matador Resources by 3.7% in the first quarter. BlackRock Inc. now owns 18,095,811 shares of the energy company’s stock valued at $424,347,000 after buying an additional 640,805 shares during the last quarter. Mutual of America Capital Management LLC raised its holdings in shares of Matador Resources by 6.4% in the first quarter. Mutual of America Capital Management LLC now owns 14,659 shares of the energy company’s stock valued at $344,000 after buying an additional 888 shares during the last quarter. Finally, Trexquant Investment LP raised its holdings in Matador Resources by 95.5% during the first quarter. Trexquant Investment LP now owns 29,093 shares of the energy company’s stock worth $682,000 after purchasing an additional 14,215 shares in the last quarter. 84.34% of the stock is owned by institutional investors and hedge funds.

About Matador Resources (NYSE:MTDR)

Matador Resources Co is a holding company, which engages in the exploration, development, production, and acquisition of oil and natural gas resources. It operates through the following segments: Exploration and Production, Midstream, and Corporate. The Exploration and Production segment focuses on the exploration, development, production, and acquisition of oil and liquids-rich portion of the Wolfcamp and Bone Spring.

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