Matador Resources Company (NYSE:MTDR) to Issue $0.38 Quarterly Dividend

Matador Resources Company (NYSE:MTDR) announced a quarterly dividend on Wednesday, July 22nd. Shareholders of record on Monday, August 10th will be given a dividend of 0.375 per share by the energy company on Tuesday, September 8th. This represents a c) dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Monday, August 10th.

Matador Resources has a dividend payout ratio of 24.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Matador Resources to earn $7.87 per share next year, which means the company should continue to be able to cover its $1.50 annual dividend with an expected future payout ratio of 19.1%.

Matador Resources Price Performance

Matador Resources stock opened at $55.06 on Thursday. The company has a quick ratio of 0.70, a current ratio of 0.73 and a debt-to-equity ratio of 0.59. Matador Resources has a 52-week low of $37.14 and a 52-week high of $66.84. The firm has a market cap of $6.84 billion, a PE ratio of 14.15 and a beta of 0.74. The company’s 50 day moving average is $53.41 and its two-hundred day moving average is $53.16.

Matador Resources (NYSE:MTDR) last released its earnings results on Wednesday, May 6th. The energy company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.24 by $0.29. Matador Resources had a return on equity of 11.20% and a net margin of 14.41%.The firm had revenue of $941.60 million during the quarter, compared to analysts’ expectations of $871.57 million. During the same period in the previous year, the firm posted $1.99 EPS. Matador Resources’s revenue for the quarter was down 33.8% on a year-over-year basis. On average, research analysts expect that Matador Resources will post 6.84 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on MTDR shares. Truist Financial reduced their price objective on shares of Matador Resources from $67.00 to $63.00 and set a “buy” rating for the company in a research report on Thursday, July 16th. Mizuho increased their target price on shares of Matador Resources from $74.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. BMO Capital Markets lifted their price target on shares of Matador Resources from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Monday, April 6th. KeyCorp boosted their price target on shares of Matador Resources from $61.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, April 2nd. Finally, UBS Group dropped their price objective on Matador Resources from $62.00 to $56.00 and set a “neutral” rating on the stock in a report on Tuesday. Eleven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Matador Resources has a consensus rating of “Moderate Buy” and a consensus target price of $64.08.

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.