Stephens Boosts Matador Resources (NYSE:MTDR) Price Target to $78.00

Matador Resources (NYSE:MTDR) had its price target increased by Stephens from $76.00 to $78.00 in a research report sent to investors on Monday morning, Benzinga reports. Stephens currently has an overweight rating on the energy company’s stock.

A number of other analysts have also recently issued reports on MTDR. BMO Capital Markets lifted their target price on shares of Matador Resources from $75.00 to $78.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Benchmark reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Matador Resources in a research note on Wednesday, July 24th. TD Cowen increased their target price on shares of Matador Resources from $85.00 to $87.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Wells Fargo & Company reduced their price target on Matador Resources from $89.00 to $87.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Finally, Mizuho decreased their price target on Matador Resources from $85.00 to $74.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.69.

Matador Resources Price Performance

Shares of NYSE:MTDR opened at $50.75 on Monday. The firm has a market cap of $6.33 billion, a price-to-earnings ratio of 6.95 and a beta of 3.26. Matador Resources has a 1 year low of $47.15 and a 1 year high of $71.08. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 0.41. The business has a fifty day simple moving average of $52.93 and a 200 day simple moving average of $58.36.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings results 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 company had revenue of $770.20 million during the quarter, compared to the consensus estimate of $836.69 million. Matador Resources had a return on equity of 21.12% and a net margin of 29.01%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the business earned $1.86 EPS. As a group, sell-side analysts predict that Matador Resources will post 7.4 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, November 15th. This is a positive change from Matador Resources’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.97%. Matador Resources’s payout ratio is 13.70%.

Insider Activity

In related news, CEO Joseph Wm Foran bought 2,500 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average price of $51.47 per share, with a total value of $128,675.00. Following the completion of the transaction, the chief executive officer now owns 37,751 shares of the company’s stock, valued at $1,943,043.97. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Joseph Wm Foran bought 2,500 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average cost of $51.47 per share, with a total value of $128,675.00. Following the completion of the transaction, the chief executive officer now directly owns 37,751 shares in the company, valued at $1,943,043.97. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Robert T. Macalik purchased 500 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average price of $50.25 per share, for a total transaction of $25,125.00. Following the completion of the purchase, the chief accounting officer now directly owns 29,800 shares of the company’s stock, valued at approximately $1,497,450. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 12,300 shares of company stock valued at $634,615. 6.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MTDR. Vanguard Group Inc. raised its stake in shares of Matador Resources by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 11,124,705 shares of the energy company’s stock valued at $742,797,000 after buying an additional 103,713 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Matador Resources by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,734,819 shares of the energy company’s stock worth $282,196,000 after buying an additional 356,506 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Matador Resources by 10.5% during the second quarter. Clearbridge Investments LLC now owns 2,250,036 shares of the energy company’s stock valued at $134,102,000 after acquiring an additional 214,334 shares during the period. Wasatch Advisors LP lifted its holdings in Matador Resources by 7.3% during the 1st quarter. Wasatch Advisors LP now owns 1,176,802 shares of the energy company’s stock valued at $78,575,000 after purchasing an additional 79,920 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Matador Resources by 5.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,104,791 shares of the energy company’s stock worth $73,768,000 after buying an additional 53,322 shares in the last quarter. 91.98% of the stock is owned by institutional investors.

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.