Matador Resources (NYSE:MTDR) Upgraded at Wolfe Research

Wolfe Research upgraded shares of Matador Resources (NYSE:MTDR) from a peer perform rating to an outperform rating in a research report report published on Friday, Marketbeat Ratings reports. They currently have $72.00 price objective on the energy company’s stock.

Other equities analysts have also issued reports about the company. Mizuho decreased their target price on Matador Resources from $74.00 to $73.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. JPMorgan Chase & Co. cut their price objective on shares of Matador Resources from $77.00 to $71.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Stephens upped their price objective on Matador Resources from $78.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. BMO Capital Markets boosted their price target on Matador Resources from $75.00 to $78.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Finally, TD Cowen raised their price objective on shares of Matador Resources from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Matador Resources presently has a consensus rating of “Moderate Buy” and an average target price of $74.21.

Matador Resources Trading Up 1.7 %

Shares of Matador Resources stock opened at $59.07 on Friday. Matador Resources has a 12-month low of $47.15 and a 12-month high of $71.08. The company has a 50-day simple moving average of $56.30 and a 200 day simple moving average of $55.96. 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 capitalization of $7.37 billion, a P/E ratio of 7.82 and a beta of 3.24.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings data on Tuesday, October 22nd. The energy company reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.11. The firm had revenue of $770.20 million during the quarter, compared to analysts’ expectations of $836.69 million. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. Matador Resources’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.86 EPS. Research analysts expect that Matador Resources will post 7.49 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 15th were paid a dividend of $0.25 per share. This is an increase from Matador Resources’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.00 annualized dividend and a yield of 1.69%. Matador Resources’s payout ratio is presently 13.25%.

Insiders Place Their Bets

In other news, CEO Joseph Wm Foran bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The shares were acquired at an average price of $55.18 per share, for a total transaction of $110,360.00. Following the completion of the acquisition, the chief executive officer now directly owns 42,251 shares in the company, valued at approximately $2,331,410.18. This represents a 4.97 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP William Thomas Elsener bought 800 shares of the stock in a transaction on Friday, December 13th. The stock was acquired 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 owns 102,964 shares of the company’s stock, valued at $5,827,762.40. This represents a 0.78 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 4,285 shares of company stock valued at $232,849. 6.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Matador Resources

A number of large investors have recently bought and sold shares of the stock. Denver PWM LLC acquired a new position in shares of Matador Resources during the second quarter worth approximately $27,000. True Wealth Design LLC bought a new position in Matador Resources in the 3rd quarter valued at $37,000. Avior Wealth Management LLC raised its position in Matador Resources by 329.0% in the third quarter. Avior Wealth Management LLC now owns 828 shares of the energy company’s stock worth $41,000 after acquiring an additional 635 shares during the period. Quarry LP grew its holdings in Matador Resources by 47.5% during the second 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. Finally, Covestor Ltd raised its stake in Matador Resources by 154.8% in the 3rd quarter. Covestor Ltd now owns 1,060 shares of the energy company’s stock valued at $52,000 after acquiring an additional 644 shares during the period. 91.98% of the stock is currently owned by institutional investors and hedge funds.

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.