Brokerages Set Matador Resources (NYSE:MTDR) Target Price at $77.09

Shares of Matador Resources (NYSE:MTDR) have been assigned an average rating of “Moderate Buy” from the thirteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $78.17.

MTDR has been the subject of several recent research reports. Wells Fargo & Company increased their price objective on shares of Matador Resources from $88.00 to $89.00 and gave the company an “overweight” rating in a research report on Monday. Mizuho boosted their price target on Matador Resources from $83.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. 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. Truist Financial reduced their target price on Matador Resources from $91.00 to $86.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Matador Resources from $76.00 to $77.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th.

Matador Resources Stock Up 1.9 %

Shares of MTDR opened at $61.48 on Thursday. The firm has a market cap of $7.67 billion, a PE ratio of 8.42 and a beta of 3.29. The company’s fifty day moving average is $60.17 and its two-hundred day moving average is $61.50. Matador Resources has a fifty-two week low of $51.72 and a fifty-two week high of $71.08. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 0.41.

Matador Resources (NYSE:MTDR) last released its quarterly earnings data on Tuesday, July 23rd. The energy company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.29. Matador Resources had a net margin of 29.01% and a return on equity of 21.12%. The company had revenue of $847.14 million during the quarter, compared to analyst estimates of $822.55 million. During the same quarter in the prior year, the business earned $1.42 earnings per share. The business’s quarterly revenue was up 32.8% compared to the same quarter last year. Analysts forecast that Matador Resources will post 7.87 earnings per share for the current year.

Matador Resources Dividend Announcement

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

Insider Buying and Selling

In other Matador Resources news, EVP Bryan A. Erman purchased 1,750 shares of Matador Resources stock in a transaction on Friday, June 14th. The stock was bought at an average price of $55.90 per share, for a total transaction of $97,825.00. Following the transaction, the executive vice president now owns 1,750 shares of the company’s stock, valued at approximately $97,825. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 6.10% of the company’s stock.

Institutional Trading of Matador Resources

Institutional investors have recently made changes to their positions in the stock. Covestor Ltd raised its holdings in Matador Resources by 121.4% during the first quarter. Covestor Ltd now owns 414 shares of the energy company’s stock worth $28,000 after purchasing an additional 227 shares in the last quarter. Rise Advisors LLC bought a new stake in Matador Resources during the first quarter worth approximately $34,000. Oakworth Capital Inc. bought a new stake in Matador Resources during the fourth quarter worth approximately $31,000. Lindbrook Capital LLC raised its holdings in Matador Resources by 84.3% during the first quarter. Lindbrook Capital LLC now owns 597 shares of the energy company’s stock worth $40,000 after purchasing an additional 273 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. bought a new position in shares of Matador Resources in the fourth quarter valued at $35,000. 91.98% of the stock is owned by institutional investors and hedge funds.

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.