Matador Resources (NYSE:MTDR) Price Target Raised to $88.00

Matador Resources (NYSE:MTDR) had its price target hoisted by Wells Fargo & Company from $85.00 to $88.00 in a research report sent to investors on Wednesday, Benzinga reports. The firm currently has an overweight rating on the energy company’s stock.

MTDR has been the subject of a number of other research reports. Truist Financial upped their price objective on shares of Matador Resources from $87.00 to $91.00 and gave the company a buy rating in a research note on Thursday, June 13th. Mizuho upped their price objective on shares of Matador Resources from $83.00 to $85.00 and gave the company a buy rating in a research note on Friday, June 14th. Benchmark dropped their price objective on shares of Matador Resources from $71.00 to $62.00 and set a buy rating for the company in a research note on Tuesday, April 23rd. JPMorgan Chase & Co. increased their target price on shares of Matador Resources from $76.00 to $77.00 and gave the stock an overweight rating in a research report on Thursday, April 11th. Finally, Stephens started coverage on shares of Matador Resources in a research report on Friday, June 21st. They set an overweight rating and a $83.00 target price for the company. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Matador Resources has a consensus rating of Moderate Buy and a consensus price target of $76.36.

Matador Resources Price Performance

NYSE:MTDR opened at $64.05 on Wednesday. The firm has a market cap of $7.99 billion, a price-to-earnings ratio of 8.77 and a beta of 3.29. The company has a current ratio of 0.89, a quick ratio of 0.84 and a debt-to-equity ratio of 0.43. The company’s 50-day moving average is $60.36 and its two-hundred day moving average is $61.15. Matador Resources has a 12-month low of $51.72 and a 12-month high of $71.08.

Matador Resources (NYSE:MTDR) last released 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. The company had revenue of $787.70 million for the quarter, compared to analyst estimates of $740.99 million. Matador Resources had a net margin of 28.89% and a return on equity of 20.62%. The firm’s quarterly revenue was up 40.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.50 EPS. Research analysts expect that Matador Resources will post 7.96 EPS for the current year.

Matador Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Thursday, August 15th. Matador Resources’s dividend payout ratio (DPR) is 10.96%.

Insider Buying and Selling at Matador Resources

In other news, EVP Bryan A. Erman acquired 1,750 shares of the stock in a transaction on Friday, June 14th. The stock was bought at an average price of $55.90 per share, with a total value of $97,825.00. Following the completion of the transaction, the executive vice president now directly owns 1,750 shares of the company’s stock, valued at $97,825. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Matador Resources

Several institutional investors and hedge funds have recently made changes to their positions in MTDR. Wellington Management Group LLP boosted its stake in shares of Matador Resources by 68.7% during the 3rd quarter. Wellington Management Group LLP now owns 735,769 shares of the energy company’s stock valued at $43,764,000 after buying an additional 299,708 shares during the last quarter. Raymond James Trust N.A. boosted its stake in shares of Matador Resources by 10.0% during the 4th quarter. Raymond James Trust N.A. now owns 5,620 shares of the energy company’s stock valued at $320,000 after buying an additional 510 shares during the last quarter. Vest Financial LLC purchased a new position in shares of Matador Resources during the 4th quarter valued at approximately $242,000. Moody National Bank Trust Division lifted its stake in Matador Resources by 32.0% during the fourth quarter. Moody National Bank Trust Division now owns 12,251 shares of the energy company’s stock worth $697,000 after purchasing an additional 2,967 shares during the last quarter. Finally, Financial Management Professionals Inc. bought a new position in Matador Resources during the fourth quarter worth $34,000. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

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.