Matador Resources (NYSE:MTDR) Coverage Initiated by Analysts at Morgan Stanley

Morgan Stanley started coverage on shares of Matador Resources (NYSE:MTDR) in a report released on Friday morning, Marketbeat.com reports. The brokerage issued an equal weight rating and a $78.00 price target on the energy company’s stock.

MTDR has been the subject of a number of other research reports. JPMorgan Chase & Co. lowered 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 report on Wednesday, October 30th. BMO Capital Markets lifted their price objective on Matador Resources from $75.00 to $78.00 and gave the company an “outperform” rating in a report on Friday, October 4th. KeyCorp lowered their target price on Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Wells Fargo & Company lifted their price target on shares of Matador Resources from $87.00 to $91.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, Benchmark reissued a “buy” rating and set a $62.00 price objective on shares of Matador Resources in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Matador Resources presently has a consensus rating of “Moderate Buy” and an average target price of $74.79.

Matador Resources Trading Up 2.2 %

MTDR opened at $61.40 on Friday. Matador Resources has a fifty-two week low of $47.15 and a fifty-two week high of $71.08. The company has a market cap of $7.66 billion, a price-to-earnings ratio of 8.13 and a beta of 3.24. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.84. The firm has a 50 day simple moving average of $56.96 and a 200 day simple moving average of $56.02.

Matador Resources (NYSE:MTDR) last released its earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.11. The firm had revenue of $770.20 million for the quarter, compared to analyst estimates of $836.69 million. Matador Resources had a return on equity of 20.01% and a net margin of 27.45%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.86 earnings per share. On average, sell-side analysts anticipate that Matador Resources will post 7.49 earnings per share for the current year.

Matador Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 15th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend was Friday, November 15th. This is an increase from Matador Resources’s previous quarterly dividend of $0.20. Matador Resources’s dividend payout ratio (DPR) is 13.25%.

Insider Activity

In related news, EVP William Thomas Elsener acquired 800 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were bought at an average cost of $56.60 per share, with a total value of $45,280.00. Following the completion of the transaction, the executive vice president now directly owns 102,964 shares of the company’s stock, valued at $5,827,762.40. This trade represents a 0.78 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Glenn W. Stetson bought 1,000 shares of Matador Resources stock in a transaction that occurred on Wednesday, October 30th. The shares were bought at an average cost 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 $4,411,043.55. This trade represents a 1.18 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 4,285 shares of company stock valued at $232,849. 6.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Matador Resources

Large investors have recently made changes to their positions in the company. True Wealth Design LLC bought a new position in Matador Resources during the 3rd quarter worth $37,000. Denver PWM LLC raised its stake in Matador Resources by 67.2% in the 3rd quarter. Denver PWM LLC now owns 754 shares of the energy company’s stock worth $37,000 after purchasing an additional 303 shares in the last quarter. Avior Wealth Management LLC boosted its holdings in Matador Resources by 329.0% in the 3rd quarter. Avior Wealth Management LLC now owns 828 shares of the energy company’s stock valued at $41,000 after purchasing an additional 635 shares during the period. Quarry LP grew its position in shares of Matador Resources by 47.5% during the 2nd quarter. Quarry LP now owns 779 shares of the energy company’s stock worth $46,000 after purchasing an additional 251 shares in the last quarter. Finally, Covestor Ltd increased its holdings in shares of Matador Resources by 154.8% during the third quarter. Covestor Ltd now owns 1,060 shares of the energy company’s stock worth $52,000 after purchasing an additional 644 shares during the period. Institutional investors 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.