Matador Resources Company (NYSE:MTDR) Receives $65.93 Consensus Target Price from Analysts

Shares of Matador Resources Company (NYSE:MTDR) have earned an average recommendation of “Moderate Buy” from the seventeen analysts that are presently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $65.9333.

MTDR has been the subject of several recent analyst reports. Roth Capital upgraded shares of Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 target price for the company in a research note on Monday, June 22nd. Stifel Nicolaus initiated coverage on shares of Matador Resources in a report on Thursday. They set a “buy” rating and a $66.00 price target on the stock. Citigroup reduced their price objective on shares of Matador Resources from $68.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th. UBS Group increased their price objective on shares of Matador Resources from $54.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Finally, Wells Fargo & Company raised shares of Matador Resources from an “equal weight” rating to an “overweight” rating and dropped their target price for the stock from $79.00 to $77.00 in a research report on Wednesday, September 2nd.

Matador Resources Stock Up 1.7%

MTDR stock opened at $61.72 on Tuesday. The firm has a market capitalization of $7.64 billion, a PE ratio of 10.59 and a beta of 0.79. The company has a quick ratio of 0.62, a current ratio of 0.65 and a debt-to-equity ratio of 0.67. Matador Resources has a twelve month low of $37.14 and a twelve month high of $66.84. The stock’s 50 day moving average is $53.80 and its 200-day moving average is $55.55.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Wednesday, August 5th. The energy company reported $2.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.53. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.06 billion. Matador Resources had a return on equity of 13.18% and a net margin of 19.85%.Matador Resources’s revenue was up 32.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.53 earnings per share. Sell-side analysts expect that Matador Resources will post 7.51 EPS for the current fiscal year.

Matador Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 8th. Investors of record on Monday, August 10th were given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Monday, August 10th. Matador Resources’s dividend payout ratio (DPR) is presently 25.73%.

Insider Buying and Selling

In other Matador Resources news, EVP William Elsener acquired 850 shares of the business’s stock in a transaction on Monday, August 10th. The shares were acquired at an average price of $50.94 per share, with a total value of $43,299.00. Following the completion of the transaction, the executive vice president owned 114,879 shares in the company, valued at approximately $5,851,936.26. This trade represents a 0.75% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Christopher Calvert bought 2,500 shares of the stock in a transaction dated Thursday, August 27th. The shares were acquired at an average price of $56.64 per share, for a total transaction of $141,600.00. Following the completion of the purchase, the chief financial officer directly owned 44,000 shares in the company, valued at approximately $2,492,160. This trade represents a 6.02% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have acquired 23,144 shares of company stock worth $1,211,793. 5.90% of the stock is owned by company insiders.

Institutional Trading of Matador Resources

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in shares of Matador Resources during the 2nd quarter valued at approximately $573,936,000. Dimensional Fund Advisors LP lifted its stake in Matador Resources by 4.2% in 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 purchasing an additional 277,839 shares during the last quarter. California State Teachers Retirement System grew its holdings in Matador Resources by 5,019.7% during the second quarter. California State Teachers Retirement System now owns 6,833,201 shares of the energy company’s stock valued at $340,157,000 after purchasing an additional 6,699,733 shares during the period. State Street Corp increased its position in Matador Resources by 1.9% in the fourth quarter. State Street Corp now owns 4,617,864 shares of the energy company’s stock worth $195,982,000 after buying an additional 86,344 shares during the last quarter. Finally, LSV Asset Management increased its position in Matador Resources by 8.8% in the fourth quarter. LSV Asset Management now owns 3,842,011 shares of the energy company’s stock worth $163,055,000 after buying an additional 309,708 shares during the last quarter. Institutional investors own 91.98% of the company’s stock.

About Matador Resources

Matador Resources Company is an independent energy company engaged in the exploration, development, production and acquisition of oil, natural gas and natural gas liquids. The company focuses primarily on unconventional, horizontal drilling and development activities in the United States.

Matador’s principal operations are concentrated in the Delaware Basin, a sub-basin of the Permian Basin in southeastern New Mexico and West Texas. Its activities include drilling and completing wells, producing hydrocarbons, and managing mineral and leasehold interests associated with its development programs.

Through its midstream operations, including San Mateo Midstream, Matador also provides gathering, processing, transportation and water-handling services that support oil and natural gas production in the Delaware Basin.