Brokerages Set Matador Resources (NYSE:MTDR) Price Target at $74.92

Shares of Matador Resources (NYSE:MTDR) have earned a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $74.92.

A number of equities analysts recently commented on MTDR shares. JPMorgan Chase & Co. dropped their price target on Matador Resources from $77.00 to $71.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. KeyCorp lowered their target price on Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Stephens upped their price target on shares of Matador Resources from $76.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Royal Bank of Canada reissued an “outperform” rating and issued a $70.00 price objective on shares of Matador Resources in a research note on Thursday, October 24th. Finally, Mizuho reduced their target price on shares of Matador Resources from $85.00 to $74.00 and set an “outperform” rating on the stock in a report on Monday, September 16th.

Matador Resources Stock Up 0.8 %

NYSE MTDR opened at $60.01 on Wednesday. Matador Resources has a 12 month low of $47.15 and a 12 month high of $71.08. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71. The stock has a market cap of $7.49 billion, a PE ratio of 7.95 and a beta of 3.26. The stock’s 50 day moving average is $54.25 and its 200 day moving average is $56.65.

Matador Resources (NYSE:MTDR) last released its quarterly earnings data on Tuesday, October 22nd. The energy company reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.11. The firm had revenue of $770.20 million for the quarter, compared to analysts’ expectations of $836.69 million. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.86 earnings per share. Research analysts predict that Matador Resources will post 7.5 EPS for the current fiscal year.

Matador Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Matador Resources’s previous quarterly dividend of $0.20. Matador Resources’s payout ratio is 13.25%.

Insider Transactions at Matador Resources

In related news, CFO Brian J. Willey acquired 1,500 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average price of $50.50 per share, for a total transaction of $75,750.00. Following the acquisition, the chief financial officer now directly owns 1,500 shares of the company’s stock, valued at $75,750. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Robert T. Macalik bought 500 shares of the company’s stock in a transaction on Friday, September 6th. The stock was bought at an average price of $50.25 per share, for a total transaction of $25,125.00. Following the completion of the purchase, the chief accounting officer now directly owns 29,800 shares in the company, valued at approximately $1,497,450. This represents a 1.71 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 11,105 shares of company stock worth $562,306. 6.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MTDR. Advisors Asset Management Inc. increased its stake in shares of Matador Resources by 191.8% during the first quarter. Advisors Asset Management Inc. now owns 709 shares of the energy company’s stock valued at $47,000 after buying an additional 466 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Matador Resources by 5.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,104,791 shares of the energy company’s stock valued at $73,768,000 after purchasing an additional 53,322 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Matador Resources by 54.9% in the 1st quarter. Janus Henderson Group PLC now owns 123,742 shares of the energy company’s stock worth $8,259,000 after purchasing an additional 43,860 shares during the period. Tidal Investments LLC lifted its position in shares of Matador Resources by 21.2% in the 1st quarter. Tidal Investments LLC now owns 4,583 shares of the energy company’s stock worth $306,000 after purchasing an additional 802 shares during the period. Finally, EMC Capital Management boosted its stake in shares of Matador Resources by 71.1% during the first quarter. EMC Capital Management now owns 7,042 shares of the energy company’s stock valued at $470,000 after purchasing an additional 2,926 shares in the last quarter. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Matador Resources Company Profile

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.