Matador Resources (NYSE:MTDR) PT Raised to $78.00

Matador Resources (NYSE:MTDR) had its price objective raised by BMO Capital Markets from $75.00 to $78.00 in a research report report published on Friday morning, Benzinga reports. The brokerage currently has an outperform rating on the energy company’s stock.

MTDR has been the subject of several other research reports. Truist Financial lowered their price objective on shares of Matador Resources from $86.00 to $75.00 and set a buy rating for the company in a research note on Monday, September 30th. Capital One Financial raised shares of Matador Resources from an equal weight rating to an overweight rating and lifted their price target for the company from $80.00 to $84.00 in a research note on Thursday, July 25th. Stephens lifted their target price on Matador Resources from $74.00 to $76.00 and gave the company an overweight rating in a research report on Friday, September 27th. JPMorgan Chase & Co. lowered their price target on Matador Resources from $83.00 to $76.00 and set an overweight rating for the company in a research report on Thursday, September 12th. Finally, TD Cowen raised their price objective on Matador Resources from $85.00 to $87.00 and gave the company a buy rating in a research note on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $75.85.

Matador Resources Stock Performance

NYSE:MTDR opened at $55.03 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 0.41. Matador Resources has a 1-year low of $47.15 and a 1-year high of $71.08. The stock’s 50-day moving average is $53.87 and its 200-day moving average is $59.58. The stock has a market cap of $6.87 billion, a P/E ratio of 7.54 and a beta of 3.26.

Matador Resources (NYSE:MTDR) last announced its earnings results on Tuesday, July 23rd. The energy company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.76 by $0.29. Matador Resources had a return on equity of 21.12% and a net margin of 29.01%. The business had revenue of $847.14 million for the quarter, compared to analysts’ expectations of $822.55 million. During the same period in the prior year, the business posted $1.42 earnings per share. The firm’s revenue was up 32.8% on a year-over-year basis. Equities research analysts anticipate that Matador Resources will post 7.63 earnings per share for the current year.

Matador Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend was Thursday, August 15th. Matador Resources’s dividend payout ratio (DPR) is currently 10.96%.

Insider Activity

In other news, EVP Bryan A. Erman bought 1,000 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were bought at an average price of $50.35 per share, for a total transaction of $50,350.00. Following the purchase, the executive vice president now owns 2,750 shares in the company, valued at approximately $138,462.50. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Matador Resources news, CEO Joseph Wm Foran acquired 2,500 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was purchased at an average price of $51.47 per share, with a total value of $128,675.00. Following the completion of the purchase, the chief executive officer now directly owns 37,751 shares in the company, valued at approximately $1,943,043.97. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Bryan A. Erman bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average cost of $50.35 per share, for a total transaction of $50,350.00. Following the purchase, the executive vice president now directly owns 2,750 shares in the company, valued at $138,462.50. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 12,300 shares of company stock valued at $634,615 in the last ninety days. Corporate insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Matador Resources

A number of institutional investors have recently added to or reduced their stakes in the stock. Covestor Ltd increased its stake in Matador Resources by 121.4% in the 1st quarter. Covestor Ltd now owns 414 shares of the energy company’s stock worth $28,000 after acquiring an additional 227 shares during the last quarter. Denver PWM LLC bought a new stake in Matador Resources in the second quarter worth $27,000. Rise Advisors LLC purchased a new stake in Matador Resources during the first quarter valued at $34,000. Advisors Asset Management Inc. lifted its position in Matador Resources by 191.8% during the first quarter. Advisors Asset Management Inc. now owns 709 shares of the energy company’s stock valued at $47,000 after purchasing an additional 466 shares during the last quarter. Finally, Quarry LP grew its stake in shares of Matador Resources by 47.5% in the 2nd quarter. Quarry LP now owns 779 shares of the energy company’s stock worth $46,000 after buying an additional 251 shares in the last quarter. 91.98% of the stock is owned by hedge funds and other institutional investors.

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.