Matador Resources (NYSE:MTDR) Receives $73.79 Consensus Target Price from Analysts

Shares of Matador Resources (NYSE:MTDR) have been given a consensus rating of “Moderate Buy” by the fourteen analysts that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $73.79.

A number of research firms recently issued reports on MTDR. Mizuho cut their price target on Matador Resources from $74.00 to $73.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Benchmark reiterated a “buy” rating and set a $62.00 target price on shares of Matador Resources in a research report on Friday, January 17th. Morgan Stanley lowered their price target on shares of Matador Resources from $84.00 to $68.00 and set an “equal weight” rating for the company in a report on Thursday, March 27th. Wolfe Research raised Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 price objective on the stock in a report on Friday, January 3rd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $70.00 target price on shares of Matador Resources in a research note on Wednesday, January 15th.

Matador Resources Stock Performance

NYSE MTDR opened at $38.21 on Tuesday. Matador Resources has a 1-year low of $37.98 and a 1-year high of $71.08. The company has a 50 day moving average of $52.76 and a 200-day moving average of $54.78. The company has a current ratio of 0.93, a quick ratio of 0.84 and a debt-to-equity ratio of 0.61. The firm has a market cap of $4.78 billion, a price-to-earnings ratio of 5.35 and a beta of 3.17.

Matador Resources (NYSE:MTDR) last released its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.83 earnings per share for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.05). The business had revenue of $970.37 million for the quarter, compared to analyst estimates of $967.10 million. Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. On average, equities analysts forecast that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.3125 dividend. This represents a $1.25 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date was Friday, February 28th. This is an increase from Matador Resources’s previous quarterly dividend of $0.25. Matador Resources’s dividend payout ratio is currently 17.51%.

Insiders Place Their Bets

In other Matador Resources news, CAO Robert T. Macalik bought 1,200 shares of Matador Resources stock in a transaction on Wednesday, March 5th. The shares were purchased at an average cost of $47.98 per share, for a total transaction of $57,576.00. Following the completion of the acquisition, the chief accounting officer now owns 31,000 shares in the company, valued at approximately $1,487,380. The trade was a 4.03 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Timothy E. Parker purchased 2,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was acquired at an average price of $44.67 per share, with a total value of $89,340.00. Following the completion of the acquisition, the director now directly owns 83,790 shares of the company’s stock, valued at approximately $3,742,899.30. This represents a 2.45 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 21,350 shares of company stock worth $1,100,769. Insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Matador Resources

Several institutional investors and hedge funds have recently modified their holdings of MTDR. Vanguard Group Inc. raised its holdings in Matador Resources by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 12,555,553 shares of the energy company’s stock worth $706,375,000 after buying an additional 187,633 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Matador Resources by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,444,723 shares of the energy company’s stock worth $306,313,000 after acquiring an additional 30,184 shares during the period. Alliancebernstein L.P. lifted its position in Matador Resources by 25.9% in the 4th quarter. Alliancebernstein L.P. now owns 2,698,606 shares of the energy company’s stock valued at $151,824,000 after acquiring an additional 555,245 shares in the last quarter. Geode Capital Management LLC boosted its stake in Matador Resources by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,008,730 shares of the energy company’s stock worth $99,297,000 after purchasing an additional 36,921 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in Matador Resources by 18.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,669,957 shares of the energy company’s stock worth $93,952,000 after purchasing an additional 258,958 shares in the last quarter. 91.98% of the stock is currently owned by institutional investors and hedge funds.

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.