Matador Resources Company (NYSE:MTDR) Stock Has Consensus Price Target of $67.20 According to Analysts

Matador Resources Company (NYSE:MTDR) has been assigned an average rating of “Moderate Buy” from the sixteen analysts that are currently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $68.43.

A number of research analysts recently commented on the stock. Stephens increased their price target on shares of Matador Resources from $92.00 to $93.00 and gave the company an “overweight” rating in a report on Tuesday, July 28th. Citigroup reduced their price objective on Matador Resources from $68.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. Morgan Stanley upped their price objective on Matador Resources from $66.00 to $69.00 and gave the company an “equal weight” rating in a research report on Thursday, October 15th. UBS Group raised their price objective on Matador Resources from $56.00 to $64.00 and gave the company a “neutral” rating in a research note on Monday, September 14th. Finally, Weiss Ratings upgraded Matador Resources from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, October 23rd.

Key Stories Impacting Matador Resources

Here are the key news stories impacting Matador Resources this week:

• Positive Sentiment: Matador reported third-quarter earnings of $2.08 per share, above analyst estimates of about $1.83, and revenue of $1.39 billion versus estimates of $1.12 billion. Revenue rose 33.9% year over year, while EPS increased from $1.36 a year earlier. The earnings and revenue beats may support investor sentiment. Matador Resources Q3 Earnings and Revenues Beat Estimates
• Positive Sentiment: Matador’s 51%-owned San Mateo Midstream joint venture expanded its Delaware Basin infrastructure and signed two agreements with a producer, including a new long-term, fixed-fee natural gas gathering and processing deal. The arrangements could add stable, fee-based midstream revenue. San Mateo Infrastructure Expansion and Agreements
• Positive Sentiment: A Zacks report noted that analysts’ average price target implied potential upside of 26.8%, and cited positive earnings-estimate revisions. Price targets are forecasts, not a guarantee of future performance. Analyst Price Targets for Matador
• Neutral Sentiment: Despite these favorable updates, the supplied articles do not point to a clear reason for the shares’ decline in the reported session. Broader market or energy-sector factors may be relevant, but are not detailed in this coverage.

Matador Resources Price Performance

MTDR stock opened at $54.43 on Wednesday. Matador Resources has a 52 week low of $37.14 and a 52 week high of $66.84. The company has a quick ratio of 0.62, a current ratio of 0.65 and a debt-to-equity ratio of 0.67. The company has a fifty day simple moving average of $56.55 and a two-hundred day simple moving average of $54.40. The firm has a market capitalization of $6.74 billion, a P/E ratio of 9.34 and a beta of 0.93.

Matador Resources (NYSE:MTDR) last posted its earnings results on Tuesday, November 3rd. The energy company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.25. Matador Resources had a net margin of 19.85% and a return on equity of 13.18%. The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the firm posted $1.36 EPS. The business’s quarterly revenue was up 33.9% on a year-over-year basis. Analysts anticipate that Matador Resources will post 7.94 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Tuesday, November 10th will be given a $0.4375 dividend. This is a boost from Matador Resources’s previous quarterly dividend of $0.3750. This represents a $1.75 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Tuesday, November 10th. Matador Resources’s dividend payout ratio is 25.73%.

Insiders Place Their Bets

In other news, EVP William Elsener bought 850 shares of the stock in a transaction dated Monday, August 10th. The stock was purchased at an average price of $50.94 per share, for a total transaction of $43,299.00. Following the acquisition, the executive vice president owned 114,879 shares of the company’s stock, valued at $5,851,936.26. The trade was a 0.75% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Christopher P. Calvert purchased 2,500 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The shares were purchased at an average cost of $56.64 per share, with a total value of $141,600.00. Following the completion of the purchase, the chief financial officer owned 44,000 shares in the company, valued at $2,492,160. This trade represents a 6.02% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 23,144 shares of company stock valued at $1,211,793 over the last three months. 5.90% of the stock is owned by company insiders.

Institutional Trading of Matador Resources

Institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP raised its stake in shares of Matador Resources by 16.1% during the second quarter. Allworth Financial LP now owns 1,270 shares of the energy company’s stock valued at $63,000 after acquiring an additional 176 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of Matador Resources by 0.8% in the third quarter. Oregon Public Employees Retirement Fund now owns 24,338 shares of the energy company’s stock valued at $1,255,000 after purchasing an additional 200 shares during the period. Altshuler Shaham Ltd grew its stake in Matador Resources by 36.7% in the first quarter. Altshuler Shaham Ltd now owns 748 shares of the energy company’s stock worth $47,000 after purchasing an additional 201 shares in the last quarter. Smith Group Asset Management LLC grew its stake in Matador Resources by 1.6% in the third quarter. Smith Group Asset Management LLC now owns 12,941 shares of the energy company’s stock worth $667,000 after purchasing an additional 208 shares in the last quarter. Finally, Crossmark Global Holdings Inc. grew its stake in Matador Resources by 2.6% in the third quarter. Crossmark Global Holdings Inc. now owns 8,536 shares of the energy company’s stock worth $440,000 after purchasing an additional 214 shares in the last quarter. Institutional investors own 91.98% of the company’s stock.

Matador Resources Company Profile

Matador Resources Company (NYSE: MTDR) 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, or shale, resource plays and operates across both upstream exploration and production and related midstream activities.

Matador’s principal exploration and production operations are located in the Delaware Basin in southeastern New Mexico and West Texas. Its midstream operations, conducted primarily through San Mateo Midstream, provide natural gas gathering and processing, crude oil and produced-water gathering, and water sourcing and disposal services that support the company’s operations and other producers in the region.

Founded in 2003 and headquartered in Dallas, Texas, Matador has historically expanded through development and acquisitions in U.S.