Matador Resources (NYSE:MTDR) Given Consensus Recommendation of “Buy” by Brokerages

Matador Resources (NYSE:MTDR) has been given an average recommendation of “Buy” by the eleven research firms that are currently covering the company, MarketBeat Ratings reports. Eleven investment analysts have rated the stock with a buy rating. The average 12-month target price among brokers that have covered the stock in the last year is $76.09.

MTDR has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Matador Resources from $76.00 to $77.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Truist Financial boosted their target price on shares of Matador Resources from $87.00 to $91.00 and gave the stock a “buy” rating in a research note on Thursday, June 13th. Roth Mkm reiterated a “buy” rating and set a $66.00 target price on shares of Matador Resources in a research note on Monday, March 25th. Stephens initiated coverage on shares of Matador Resources in a research note on Friday, June 21st. They set an “overweight” rating and a $83.00 target price for the company. Finally, Wells Fargo & Company boosted their target price on shares of Matador Resources from $76.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th.

Matador Resources Stock Up 1.0 %

Shares of NYSE MTDR opened at $60.51 on Friday. The firm has a market cap of $7.55 billion, a price-to-earnings ratio of 8.29 and a beta of 3.29. The company has a quick ratio of 0.84, a current ratio of 0.89 and a debt-to-equity ratio of 0.43. Matador Resources has a 52-week low of $49.12 and a 52-week high of $71.08. The business’s 50 day moving average is $60.73 and its two-hundred day moving average is $60.81.

Matador Resources (NYSE:MTDR) last announced its earnings results on Tuesday, April 23rd. The energy company reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.32. Matador Resources had a return on equity of 20.62% and a net margin of 28.89%. The company had revenue of $787.70 million for the quarter, compared to analyst estimates of $740.99 million. During the same quarter in the previous year, the company earned $1.50 earnings per share. The firm’s quarterly revenue was up 40.6% compared to the same quarter last year. Research analysts predict that Matador Resources will post 7.86 EPS for the current year.

Matador Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 17th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $0.80 annualized dividend and a dividend yield of 1.32%. Matador Resources’s dividend payout ratio (DPR) is 10.96%.

Insider Transactions at Matador Resources

In other Matador Resources news, EVP Bryan A. Erman bought 1,750 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was acquired at an average price of $55.90 per share, for a total transaction of $97,825.00. Following the completion of the purchase, the executive vice president now owns 1,750 shares of the company’s stock, valued at $97,825. The acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Matador Resources

Several hedge funds have recently made changes to their positions in MTDR. Vanguard Group Inc. raised its holdings in Matador Resources by 0.9% during the first quarter. Vanguard Group Inc. now owns 11,124,705 shares of the energy company’s stock worth $742,797,000 after purchasing an additional 103,713 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Matador Resources by 2.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,028,782 shares of the energy company’s stock worth $229,083,000 after purchasing an additional 87,299 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Matador Resources by 6.3% during the fourth quarter. Victory Capital Management Inc. now owns 3,430,593 shares of the energy company’s stock worth $195,064,000 after purchasing an additional 202,303 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Matador Resources by 31.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,206,041 shares of the energy company’s stock worth $125,435,000 after purchasing an additional 531,504 shares in the last quarter. Finally, Clearbridge Investments LLC raised its holdings in Matador Resources by 11.8% during the first quarter. Clearbridge Investments LLC now owns 2,035,702 shares of the energy company’s stock worth $135,924,000 after purchasing an additional 215,298 shares in the last quarter. Institutional investors and hedge funds own 91.98% of the company’s stock.

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.