TD Cowen Issues Positive Forecast for Matador Resources (NYSE:MTDR) Stock Price

Matador Resources (NYSE:MTDR) had its target price lifted by TD Cowen from $74.00 to $75.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a buy rating on the energy company’s stock.

A number of other research firms also recently issued reports on MTDR. Stephens increased their target price on shares of Matador Resources from $78.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. decreased their price objective on shares of Matador Resources from $77.00 to $71.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. BMO Capital Markets raised 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. KeyCorp decreased their price target on shares of Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Finally, Truist Financial lowered their price target on Matador Resources from $86.00 to $75.00 and set a “buy” rating for the company in a report on Monday, September 30th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Matador Resources presently has an average rating of “Moderate Buy” and an average price target of $74.38.

Matador Resources Stock Up 0.9 %

Shares of NYSE MTDR opened at $53.07 on Thursday. The stock has a market capitalization of $6.62 billion, a PE ratio of 7.03 and a beta of 3.26. 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 firm has a fifty day moving average of $55.52 and a 200-day moving average of $56.13. Matador Resources has a 52-week low of $47.15 and a 52-week high of $71.08.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.11. The firm 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 20.01% and a net margin of 27.45%. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.86 earnings per share. On average, analysts anticipate that Matador Resources will post 7.49 EPS for the current year.

Matador Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 15th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, November 15th. This is an increase from Matador Resources’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 1.88%. Matador Resources’s payout ratio is currently 13.25%.

Insider Activity

In other news, EVP Glenn W. Stetson bought 1,000 shares of Matador Resources stock in a transaction on Wednesday, October 30th. The shares were bought at an average price of $51.33 per share, with a total value of $51,330.00. Following the acquisition, the executive vice president now directly owns 85,935 shares in the company, valued at approximately $4,411,043.55. This represents a 1.18 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP William Thomas Elsener purchased 800 shares of the stock in a transaction dated Friday, December 13th. The stock was purchased at an average price of $56.60 per share, with a total value of $45,280.00. Following the completion of the acquisition, the executive vice president now directly owns 102,964 shares in the company, valued at approximately $5,827,762.40. The trade was a 0.78 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 4,285 shares of company stock worth $232,849. 6.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Matador Resources

Hedge funds have recently added to or reduced their stakes in the business. Denver PWM LLC raised its holdings in shares of Matador Resources by 67.2% during the third quarter. Denver PWM LLC now owns 754 shares of the energy company’s stock worth $37,000 after purchasing an additional 303 shares during the period. American Trust raised its stake in Matador Resources by 60.9% during the third quarter. American Trust now owns 5,630 shares of the energy company’s stock worth $278,000 after acquiring an additional 2,130 shares during the period. Franklin Resources Inc. lifted its holdings in Matador Resources by 12.0% in the third quarter. Franklin Resources Inc. now owns 1,008,421 shares of the energy company’s stock worth $54,122,000 after acquiring an additional 107,827 shares during the last quarter. Synovus Financial Corp boosted its stake in Matador Resources by 32.1% in the third quarter. Synovus Financial Corp now owns 22,753 shares of the energy company’s stock valued at $1,124,000 after acquiring an additional 5,529 shares during the period. Finally, Tidal Investments LLC bought a new position in shares of Matador Resources during the third quarter valued at approximately $423,000. Institutional investors and hedge funds own 91.98% of the company’s stock.

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.