Matador Resources (NYSE:MTDR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Matador Resources (NYSE:MTDR) from a hold rating to a buy rating in a research note released on Saturday.

MTDR has been the topic of a number of other research reports. Wells Fargo & Company raised their price target on Matador Resources from $63.00 to $79.00 and gave the stock an “equal weight” rating in a report on Thursday, August 13th. UBS Group upped their price objective on Matador Resources from $54.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Roth Capital raised Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 price objective for the company in a research report on Monday, June 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Matador Resources in a research note on Friday, August 7th. Finally, Zacks Research lowered Matador Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $66.07.

Matador Resources Price Performance

MTDR stock opened at $55.84 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. The company has a market capitalization of $6.91 billion, a P/E ratio of 9.58 and a beta of 0.76. The business has a 50 day simple moving average of $51.14 and a 200-day simple moving average of $54.13. Matador Resources has a twelve month low of $37.14 and a twelve month high of $66.84.

Matador Resources (NYSE:MTDR) last released its quarterly earnings results on Wednesday, August 5th. The energy company reported $2.61 EPS for the quarter, beating the consensus estimate of $2.08 by $0.53. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.06 billion. Matador Resources had a net margin of 19.85% and a return on equity of 13.18%. Matador Resources’s revenue for the quarter was up 32.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.53 EPS. As a group, equities analysts anticipate that Matador Resources will post 7.11 EPS for the current year.

Matador Resources Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Monday, August 10th. This represents a $1.50 dividend on an annualized basis and a yield of 2.7%. Matador Resources’s dividend payout ratio (DPR) is presently 25.73%.

Insiders Place Their Bets

In other Matador Resources news, CEO Joseph Wm Foran bought 5,000 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was acquired at an average cost of $51.44 per share, with a total value of $257,200.00. Following the purchase, the chief executive officer owned 30,617 shares in the company, valued at approximately $1,574,938.48. This represents a 19.52% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Glenn W. Stetson acquired 500 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The shares were acquired at an average cost of $53.41 per share, for a total transaction of $26,705.00. Following the acquisition, the chief operating officer directly owned 95,470 shares of the company’s stock, valued at $5,099,052.70. This trade represents a 0.53% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 31,596 shares of company stock worth $1,654,207 over the last quarter. 5.90% of the stock is owned by company insiders.

Institutional Trading of Matador Resources

Several hedge funds and other institutional investors have recently made changes to their positions in MTDR. Jefferies Financial Group Inc. purchased a new position in Matador Resources in the second quarter valued at about $4,866,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Matador Resources during the 2nd quarter worth approximately $1,782,000. Corient Private Wealth LP acquired a new stake in shares of Matador Resources in the 2nd quarter worth approximately $605,000. Bank of America Corp DE acquired a new stake in shares of Matador Resources in the 2nd quarter worth approximately $42,184,000. Finally, Odyssean LLC purchased a new position in Matador Resources in the 2nd quarter valued at approximately $2,738,000. Institutional investors and hedge funds own 91.98% of the company’s stock.

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.