Matador Resources (NYSE:MTDR) Upgraded to “Overweight” at Capital One Financial

Capital One Financial upgraded shares of Matador Resources (NYSE:MTDR) from an equal weight rating to an overweight rating in a report released on Thursday morning, MarketBeat reports. Capital One Financial currently has $84.00 price target on the energy company’s stock, up from their prior price target of $80.00. Capital One Financial also issued estimates for Matador Resources’ Q3 2024 earnings at $1.94 EPS, FY2027 earnings at $9.08 EPS and FY2028 earnings at $9.48 EPS.

Other equities research analysts have also issued research reports about the company. JPMorgan Chase & Co. increased their target price on Matador Resources from $76.00 to $77.00 and gave the company an overweight rating in a research note on Thursday, April 11th. Benchmark reiterated a buy rating and issued a $62.00 target price on shares of Matador Resources in a research note on Wednesday, July 24th. Stephens lowered their price objective on Matador Resources from $83.00 to $81.00 and set an overweight rating for the company in a research note on Wednesday, July 24th. TD Cowen raised their price objective on Matador Resources from $85.00 to $87.00 and gave the company a buy rating in a research note on Wednesday, July 24th. Finally, KeyCorp raised their price objective on Matador Resources from $71.00 to $76.00 and gave the company an overweight rating in a research note on Monday, April 22nd. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $78.08.

Matador Resources Stock Performance

Matador Resources stock opened at $61.44 on Thursday. The stock’s 50-day moving average is $60.26 and its 200-day moving average is $61.42. The company has a market cap of $7.67 billion, a price-to-earnings ratio of 8.42 and a beta of 3.29. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.86 and a quick ratio of 0.84. Matador Resources has a 12 month low of $51.72 and a 12 month high of $71.08.

Matador Resources (NYSE:MTDR) last posted its earnings results on Tuesday, July 23rd. The energy company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.29. Matador Resources had a return on equity of 21.12% and a net margin of 29.01%. The business had revenue of $847.14 million during the quarter, compared to analyst estimates of $822.55 million. During the same quarter last year, the firm earned $1.42 earnings per share. The company’s revenue for the quarter was up 32.8% compared to the same quarter last year. Equities analysts anticipate that Matador Resources will post 7.93 earnings per share for the current year.

Matador Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend is Thursday, August 15th. Matador Resources’s dividend payout ratio is presently 10.96%.

Insiders Place Their Bets

In related news, EVP Bryan A. Erman purchased 1,750 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were acquired at an average price of $55.90 per share, with a total value of $97,825.00. Following the acquisition, the executive vice president now owns 1,750 shares in the company, valued at approximately $97,825. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 6.10% of the stock is currently owned by company insiders.

Institutional Trading of Matador Resources

Several hedge funds have recently made changes to their positions in MTDR. Vanguard Group Inc. raised its stake in Matador Resources by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 11,124,705 shares of the energy company’s stock valued at $742,797,000 after acquiring an additional 103,713 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Matador Resources by 2.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,028,782 shares of the energy company’s stock valued at $229,083,000 after acquiring an additional 87,299 shares in the last quarter. Victory Capital Management Inc. raised its stake in Matador Resources by 6.3% during the 4th quarter. Victory Capital Management Inc. now owns 3,430,593 shares of the energy company’s stock valued at $195,064,000 after acquiring an additional 202,303 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Matador Resources by 31.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,206,041 shares of the energy company’s stock valued at $125,435,000 after acquiring an additional 531,504 shares in the last quarter. Finally, Clearbridge Investments LLC raised its stake in Matador Resources by 11.8% during the 1st quarter. Clearbridge Investments LLC now owns 2,035,702 shares of the energy company’s stock valued at $135,924,000 after acquiring an additional 215,298 shares in the last quarter. Institutional investors own 91.98% of the company’s stock.

About Matador Resources

Matador Resources Company, an independent energy company, engages in the exploration, development, production, and acquisition of oil and natural gas resources in the United States. It operates through two segments, Exploration and Production; and Midstream. The company primarily holds interests in the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas.