Stephens Raises Matador Resources (NYSE:MTDR) Price Target to $76.00

Matador Resources (NYSE:MTDR) had its price target hoisted by Stephens from $74.00 to $76.00 in a research note issued to investors on Friday morning, Benzinga reports. Stephens currently has an overweight rating on the energy company’s stock.

Several other analysts also recently commented on MTDR. Capital One Financial upgraded shares of Matador Resources from an equal weight rating to an overweight rating and raised their target price for the stock from $80.00 to $84.00 in a report on Thursday, July 25th. Wells Fargo & Company raised their price objective on shares of Matador Resources from $88.00 to $89.00 and gave the stock an overweight rating in a report on Monday, July 29th. Truist Financial cut their price objective on shares of Matador Resources from $91.00 to $86.00 and set a buy rating on the stock in a research report on Monday, July 22nd. Mizuho dropped their price target on Matador Resources from $85.00 to $74.00 and set an outperform rating on the stock in a research note on Monday, September 16th. Finally, Royal Bank of Canada restated an outperform rating and issued a $75.00 price target on shares of Matador Resources in a report on Friday, September 20th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Matador Resources has a consensus rating of Moderate Buy and an average target price of $75.83.

Matador Resources Price Performance

Shares of MTDR stock opened at $49.41 on Friday. 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 has a 12-month low of $47.15 and a 12-month high of $71.08. The firm has a fifty day moving average of $54.70 and a 200-day moving average of $60.09. The firm has a market capitalization of $6.17 billion, a price-to-earnings ratio of 6.77 and a beta of 3.27.

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. The firm had revenue of $847.14 million during the quarter, compared to analysts’ expectations of $822.55 million. Matador Resources had a return on equity of 21.12% and a net margin of 29.01%. The company’s revenue was up 32.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.42 earnings per share. On average, equities research analysts forecast that Matador Resources will post 7.63 earnings per share for the current year.

Matador Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 15th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.80 dividend on an annualized basis and a yield of 1.62%. Matador Resources’s payout ratio is 10.96%.

Insiders Place Their Bets

In other news, CAO Robert T. Macalik acquired 500 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was bought at an average price of $54.50 per share, with a total value of $27,250.00. Following the transaction, the chief accounting officer now directly owns 29,300 shares in the company, valued at approximately $1,596,850. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Matador Resources news, CAO Robert T. Macalik acquired 500 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was bought at an average cost of $54.50 per share, with a total value of $27,250.00. Following the completion of the transaction, the chief accounting officer now directly owns 29,300 shares in the company, valued at approximately $1,596,850. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Joseph Wm Foran bought 2,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average cost of $55.96 per share, for a total transaction of $111,920.00. Following the completion of the acquisition, the chief executive officer now directly owns 35,251 shares in the company, valued at approximately $1,972,645.96. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 12,300 shares of company stock valued at $634,615. 6.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Matador Resources

Hedge funds have recently modified their holdings of the stock. Janney Montgomery Scott LLC acquired a new position in Matador Resources in the 1st quarter valued at about $828,000. Prevail Innovative Wealth Advisors LLC increased its stake in shares of Matador Resources by 28.6% during the first quarter. Prevail Innovative Wealth Advisors LLC now owns 37,163 shares of the energy company’s stock worth $2,481,000 after purchasing an additional 8,254 shares during the period. Burford Brothers Inc. acquired a new stake in Matador Resources during the 4th quarter worth approximately $1,535,000. Goldman Sachs Group Inc. boosted its stake in Matador Resources by 31.7% in 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 purchasing an additional 531,504 shares during the period. Finally, Capstone Investment Advisors LLC boosted its stake in Matador Resources by 1,029.1% in the 1st quarter. Capstone Investment Advisors LLC now owns 76,032 shares of the energy company’s stock valued at $5,077,000 after purchasing an additional 69,298 shares during the period. Institutional investors and hedge funds own 91.98% of the company’s stock.

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.