Matador Resources (NYSE:MTDR) to Issue Quarterly Dividend of $0.25

Matador Resources (NYSE:MTDR) declared a quarterly dividend on Wednesday, October 16th,NASDAQ Dividends reports. Shareholders of record on Friday, November 15th will be paid a dividend of 0.25 per share by the energy company on Friday, December 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date is Friday, November 15th. This is a positive change from Matador Resources’s previous quarterly dividend of $0.20.

Matador Resources has a dividend payout ratio of 12.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Matador Resources to earn $7.68 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 13.0%.

Matador Resources Trading Up 1.3 %

Shares of Matador Resources stock opened at $57.98 on Thursday. The firm has a 50-day simple moving average of $52.21 and a two-hundred day simple moving average of $57.01. The company has a market cap of $7.23 billion, a P/E ratio of 7.68 and a beta of 3.26. Matador Resources has a fifty-two week low of $47.15 and a fifty-two week high of $71.08. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.88.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings data on Tuesday, October 22nd. The energy company reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.11. The business had revenue of $770.20 million during the quarter, compared to the consensus estimate 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 was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.86 earnings per share. As a group, equities analysts predict that Matador Resources will post 7.5 earnings per share for the current fiscal year.

Insider Buying and Selling at Matador Resources

In other news, CEO Joseph Wm Foran bought 2,500 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were bought at an average cost of $51.47 per share, for a total transaction of $128,675.00. Following the acquisition, the chief executive officer now directly owns 37,751 shares of the company’s stock, valued at $1,943,043.97. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Joseph Wm Foran bought 2,500 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were bought at an average cost of $51.47 per share, for a total transaction of $128,675.00. Following the acquisition, the chief executive officer now directly owns 37,751 shares of the company’s stock, valued at $1,943,043.97. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Robert T. Macalik acquired 500 shares of the firm’s stock in a transaction dated 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 acquisition, the chief accounting officer now owns 29,800 shares in the company, valued at approximately $1,497,450. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 11,105 shares of company stock worth $562,306 in the last ninety days. 6.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

MTDR has been the subject of a number of research reports. Mizuho cut their target price on shares of Matador Resources from $85.00 to $74.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Capital One Financial raised shares of Matador Resources from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $80.00 to $84.00 in a research note on Thursday, July 25th. Truist Financial cut their target price on shares of Matador Resources from $86.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, September 30th. BMO Capital Markets boosted their target price on shares of Matador Resources from $75.00 to $78.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Finally, Benchmark reissued a “buy” rating and set a $62.00 target price on shares of Matador Resources in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.92.

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.