Brokerages Set Matador Resources Company (NYSE:MTDR) Target Price at $64.08

Shares of Matador Resources Company (NYSE:MTDR) have earned an average recommendation of “Moderate Buy” from the sixteen analysts that are currently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $64.0769.

Several research analysts recently commented on MTDR shares. Zacks Research cut Matador Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Weiss Ratings lowered shares of Matador Resources from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 12th. UBS Group lowered their price target on shares of Matador Resources from $62.00 to $56.00 and set a “neutral” rating on the stock in a report on Tuesday, July 21st. Morgan Stanley dropped their price objective on shares of Matador Resources from $75.00 to $66.00 and set an “equal weight” rating for the company in a research note on Monday, June 29th. Finally, 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 report on Thursday, July 16th.

Insiders Place Their Bets

In related news, CEO Joseph Wm Foran acquired 4,675 shares of the stock in a transaction dated Wednesday, May 27th. The shares were bought at an average cost of $52.36 per share, for a total transaction of $244,783.00. Following the purchase, the chief executive officer owned 6,997 shares in the company, valued at approximately $366,362.92. This trade represents a 201.34% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Christopher P. Calvert bought 1,500 shares of the company’s stock in a transaction dated 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 completion of the acquisition, the chief financial officer owned 41,500 shares in the company, valued at $2,209,460. This represents a 3.75% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 11,907 shares of company stock worth $635,712 over the last quarter. Company insiders own 5.90% of the company’s stock.

Institutional Trading of Matador Resources

A number of large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its holdings in shares of Matador Resources by 4.2% during the first quarter. Dimensional Fund Advisors LP now owns 6,948,104 shares of the energy company’s stock valued at $439,010,000 after acquiring an additional 277,839 shares during the period. State Street Corp grew its holdings in shares of Matador Resources by 1.9% in the 4th quarter. State Street Corp now owns 4,617,864 shares of the energy company’s stock worth $195,982,000 after purchasing an additional 86,344 shares during the last quarter. LSV Asset Management grew its holdings in shares of Matador Resources by 8.8% in the 4th quarter. LSV Asset Management now owns 3,842,011 shares of the energy company’s stock worth $163,055,000 after purchasing an additional 309,708 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Matador Resources by 65.0% during the 4th quarter. Wellington Management Group LLP now owns 3,406,182 shares of the energy company’s stock worth $144,558,000 after purchasing an additional 1,342,145 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its position in shares of Matador Resources by 12.9% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 3,365,997 shares of the energy company’s stock worth $142,853,000 after purchasing an additional 385,000 shares in the last quarter. 91.98% of the stock is currently owned by institutional investors.

Matador Resources Trading Up 0.1%

Matador Resources stock opened at $50.88 on Monday. The business has a 50 day moving average price of $53.10 and a two-hundred day moving average price of $53.28. The company has a quick ratio of 0.70, a current ratio of 0.73 and a debt-to-equity ratio of 0.59. The stock has a market cap of $6.32 billion, a price-to-earnings ratio of 13.08 and a beta of 0.74. Matador Resources has a 12 month low of $37.14 and a 12 month high of $66.84.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.29. The company had revenue of $941.60 million for the quarter, compared to analyst estimates of $871.57 million. Matador Resources had a return on equity of 11.20% and a net margin of 14.41%.Matador Resources’s revenue for the quarter was down 33.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.99 EPS. As a group, equities analysts forecast that Matador Resources will post 6.83 EPS for the current year.

Matador Resources Announces Dividend

The firm also recently declared 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 2.9%. The ex-dividend date of this dividend is Monday, August 10th. Matador Resources’s dividend payout ratio is 38.56%.

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.