Truist Financial Issues Positive Forecast for Matador Resources (NYSE:MTDR) Stock Price

Matador Resources (NYSE:MTDR) had its target price lifted by Truist Financial from $75.00 to $80.00 in a research note published on Monday morning,Benzinga reports. Truist Financial currently has a buy rating on the energy company’s stock.

A number of other research analysts also recently weighed in on the company. JPMorgan Chase & Co. cut their price target on Matador Resources from $77.00 to $71.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Wells Fargo & Company boosted their target price on Matador Resources from $87.00 to $91.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Stephens increased their price target on shares of Matador Resources from $78.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. BMO Capital Markets boosted their price objective on shares of Matador Resources from $75.00 to $78.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Finally, TD Cowen increased their target price on shares of Matador Resources from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Matador Resources presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.14.

Matador Resources Price Performance

Matador Resources stock opened at $61.97 on Monday. The business’s 50-day simple moving average is $57.16 and its 200 day simple moving average is $55.99. The company has a quick ratio of 0.84, a current ratio of 0.88 and a debt-to-equity ratio of 0.71. The stock has a market cap of $7.73 billion, a price-to-earnings ratio of 8.21 and a beta of 3.24. Matador Resources has a 12-month low of $47.15 and a 12-month high of $71.08.

Matador Resources (NYSE:MTDR) last issued its earnings results 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 company had revenue of $770.20 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm earned $1.86 EPS. As a group, research analysts anticipate that Matador Resources will post 7.49 earnings per share for the current year.

Matador Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 15th were paid a $0.25 dividend. This is a boost from Matador Resources’s previous quarterly dividend of $0.20. The ex-dividend date was Friday, November 15th. This represents a $1.00 annualized dividend and a yield of 1.61%. Matador Resources’s payout ratio is presently 13.25%.

Insiders Place Their Bets

In related news, EVP Glenn W. Stetson purchased 1,000 shares of Matador Resources stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased at an average cost of $51.33 per share, with a total value of $51,330.00. Following the completion of the transaction, the executive vice president now owns 85,935 shares of the company’s stock, valued at approximately $4,411,043.55. This trade represents a 1.18 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William Thomas Elsener purchased 800 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was bought at an average price of $56.60 per share, with a total value of $45,280.00. Following the completion of the purchase, the executive vice president now owns 102,964 shares of the company’s stock, valued at approximately $5,827,762.40. This represents a 0.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 4,285 shares of company stock valued at $232,849 in the last quarter. 6.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Matador Resources

Several large investors have recently made changes to their positions in the stock. ClearAlpha Technologies LP raised its position in Matador Resources by 4.3% during the third quarter. ClearAlpha Technologies LP now owns 5,250 shares of the energy company’s stock worth $259,000 after acquiring an additional 218 shares in the last quarter. Quarry LP raised its holdings in shares of Matador Resources by 47.5% in the 2nd quarter. Quarry LP now owns 779 shares of the energy company’s stock valued at $46,000 after purchasing an additional 251 shares during the period. Greenleaf Trust raised its holdings in shares of Matador Resources by 3.8% in the 3rd quarter. Greenleaf Trust now owns 7,086 shares of the energy company’s stock valued at $350,000 after purchasing an additional 260 shares during the period. Evergreen Capital Management LLC lifted its stake in Matador Resources by 4.4% in the 2nd quarter. Evergreen Capital Management LLC now owns 6,814 shares of the energy company’s stock valued at $406,000 after purchasing an additional 289 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in Matador Resources by 20.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,751 shares of the energy company’s stock worth $108,000 after purchasing an additional 300 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.