Brokerages Set Matador Resources Company (NYSE:MTDR) PT at $62.50

by · The Cerbat Gem

Matador Resources Company (NYSE:MTDRGet Free Report) has been assigned an average rating of “Moderate Buy” from the seventeen ratings firms that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $61.7692.

MTDR has been the subject of a number of recent research reports. Bank of America cut their target price on Matador Resources from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. Royal Bank Of Canada increased their price target on shares of Matador Resources from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Wednesday, October 8th. Raymond James Financial reaffirmed an “outperform” rating and set a $55.00 price target (down previously from $63.00) on shares of Matador Resources in a research report on Monday, October 20th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Matador Resources in a report on Tuesday, October 14th. Finally, UBS Group raised their target price on Matador Resources from $46.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th.

Check Out Our Latest Analysis on MTDR

Matador Resources Trading Up 2.1%

MTDR opened at $43.33 on Thursday. The firm has a market capitalization of $5.38 billion, a price-to-earnings ratio of 6.92 and a beta of 1.09. The company’s 50 day simple moving average is $41.59 and its two-hundred day simple moving average is $45.63. Matador Resources has a 1-year low of $35.19 and a 1-year high of $64.04. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.73 and a quick ratio of 0.69.

Matador Resources (NYSE:MTDRGet Free Report) last posted its quarterly earnings results on Tuesday, October 21st. The energy company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.14. Matador Resources had a return on equity of 14.80% and a net margin of 20.46%.The business had revenue of $939.02 million during the quarter, compared to analyst estimates of $893.22 million. During the same period in the prior year, the business earned $1.89 earnings per share. The business’s revenue was up 4.4% compared to the same quarter last year. Analysts expect that Matador Resources will post 8.53 EPS for the current fiscal year.

Matador Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Monday, November 10th were given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, November 10th. This is a positive change from Matador Resources’s previous quarterly dividend of $0.31. Matador Resources’s dividend payout ratio is 23.96%.

Insider Transactions at Matador Resources

In related news, Director Shelley F. Appel bought 1,389 shares of the firm’s stock in a transaction on Thursday, November 6th. The shares were bought at an average price of $38.01 per share, with a total value of $52,795.89. Following the completion of the transaction, the director directly owned 5,084 shares of the company’s stock, valued at $193,242.84. This represents a 37.59% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joseph Wm Foran purchased 1,000 shares of the company’s stock in a transaction on Thursday, November 6th. The shares were bought at an average price of $38.14 per share, with a total value of $38,140.00. Following the completion of the transaction, the chief executive officer owned 23,867 shares of the company’s stock, valued at approximately $910,287.38. The trade was a 4.37% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought 37,346 shares of company stock worth $1,463,396 in the last 90 days. Insiders own 5.80% of the company’s stock.

Institutional Trading of Matador Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MTDR. Vanguard Group Inc. grew its stake in shares of Matador Resources by 0.7% in the third quarter. Vanguard Group Inc. now owns 14,780,888 shares of the energy company’s stock valued at $664,105,000 after buying an additional 101,613 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Matador Resources by 4.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 6,411,520 shares of the energy company’s stock valued at $288,079,000 after acquiring an additional 259,299 shares during the period. LSV Asset Management grew its position in Matador Resources by 5.9% in the 3rd quarter. LSV Asset Management now owns 3,532,303 shares of the energy company’s stock valued at $158,706,000 after acquiring an additional 197,528 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its stake in Matador Resources by 143.1% during the second quarter. Adage Capital Partners GP L.L.C. now owns 2,556,472 shares of the energy company’s stock worth $121,995,000 after purchasing an additional 1,505,000 shares during the period. Finally, Wellington Management Group LLP lifted its position in shares of Matador Resources by 6.7% during the third quarter. Wellington Management Group LLP now owns 2,064,037 shares of the energy company’s stock worth $92,737,000 after purchasing an additional 129,863 shares in the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

About Matador Resources

(Get Free Report)

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.

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