Matador Resources (NYSE:MTDR) Price Target Raised to $76.00

Matador Resources (NYSE:MTDR) had its price target hoisted by Stephens from $74.00 to $76.00 in a research note published on Friday morning, Benzinga reports. They currently have an overweight rating on the energy company’s stock.

A number of other brokerages have also recently issued reports on MTDR. Benchmark restated a buy rating and issued a $62.00 price objective on shares of Matador Resources in a research note on Wednesday, July 24th. Mizuho dropped their price target on shares of Matador Resources from $85.00 to $74.00 and set an outperform rating for the company in a research report on Monday, September 16th. Wolfe Research initiated coverage on Matador Resources in a report on Thursday, July 18th. They set a peer perform rating on the stock. Royal Bank of Canada reiterated an outperform rating and issued a $75.00 price objective on shares of Matador Resources in a research note on Friday, September 20th. Finally, TD Cowen raised their target price on Matador Resources from $85.00 to $87.00 and gave the stock a buy rating in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $75.83.

Matador Resources Stock Up 0.1 %

NYSE MTDR opened at $49.41 on Friday. Matador Resources has a twelve month low of $47.15 and a twelve month high of $71.08. The stock has a market cap of $6.17 billion, a PE ratio of 6.77 and a beta of 3.27. The firm has a 50-day simple moving average of $54.70 and a 200 day simple moving average of $60.09. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.82 and a current ratio of 0.86.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Tuesday, July 23rd. The energy company reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.29. The company had revenue of $847.14 million for the quarter, compared to analyst estimates of $822.55 million. Matador Resources had a return on equity of 21.12% and a net margin of 29.01%. Matador Resources’s revenue for the quarter was up 32.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.42 EPS. On average, research analysts forecast that Matador Resources will post 7.63 EPS for the current year.

Matador Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.62%. The ex-dividend date was Thursday, August 15th. Matador Resources’s payout ratio is presently 10.96%.

Insiders Place Their Bets

In related news, CEO Joseph Wm Foran purchased 2,500 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were acquired at an average cost of $49.97 per share, with a total value of $124,925.00. Following the completion of the purchase, the chief executive officer now directly owns 40,251 shares of the company’s stock, valued at $2,011,342.47. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Brian J. Willey acquired 1,500 shares of the company’s stock in a transaction on Friday, September 6th. The stock was purchased at an average cost of $50.50 per share, with a total value of $75,750.00. Following the acquisition, the chief financial officer now owns 1,500 shares of the company’s stock, valued at approximately $75,750. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Joseph Wm Foran bought 2,500 shares of Matador Resources stock in a transaction dated Monday, September 9th. The stock was acquired at an average cost of $49.97 per share, for a total transaction of $124,925.00. Following the purchase, the chief executive officer now directly owns 40,251 shares in the company, valued at approximately $2,011,342.47. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 12,300 shares of company stock valued at $634,615. Insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Matador Resources

Several large investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. raised its position in shares of Matador Resources by 31.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,206,041 shares of the energy company’s stock valued at $125,435,000 after acquiring an additional 531,504 shares during the last quarter. Element Capital Management LLC acquired a new stake in shares of Matador Resources during the first quarter worth $28,572,000. Public Employees Retirement Association of Colorado increased its holdings in Matador Resources by 14,874.4% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 427,520 shares of the energy company’s stock valued at $24,309,000 after purchasing an additional 424,665 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Matador Resources by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 4,734,819 shares of the energy company’s stock valued at $282,196,000 after buying an additional 356,506 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in Matador Resources by 44.8% during the fourth quarter. Wellington Management Group LLP now owns 1,065,291 shares of the energy company’s stock worth $60,572,000 after buying an additional 329,522 shares during 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.