Matador Resources (NYSE:MTDR) to Issue Quarterly Dividend of $0.20

Matador Resources (NYSE:MTDR) announced a quarterly dividend on Thursday, July 18th, Wall Street Journal reports. Investors of record on Thursday, August 15th will be given a dividend of 0.20 per share by the energy company on Thursday, September 5th. This represents a $0.80 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Thursday, August 15th.

Matador Resources has a payout ratio of 8.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Matador Resources to earn $9.65 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 8.3%.

Matador Resources Stock Down 0.8 %

Shares of Matador Resources stock opened at $55.63 on Wednesday. Matador Resources has a 1 year low of $50.79 and a 1 year high of $71.08. The firm has a market cap of $6.94 billion, a price-to-earnings ratio of 7.62 and a beta of 3.29. The company has a 50-day moving average of $59.16 and a 200 day moving average of $61.61. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.86 and a quick ratio of 0.82.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Tuesday, July 23rd. The energy company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $822.55 million. During the same quarter in the previous year, the business earned $1.42 earnings per share. The firm’s quarterly revenue was up 32.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Matador Resources will post 7.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Robert T. Macalik bought 500 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was bought at an average cost of $54.50 per share, with a total value of $27,250.00. Following the completion of the purchase, the chief accounting officer now owns 29,300 shares of the company’s stock, valued at approximately $1,596,850. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Matador Resources news, CEO Joseph Wm Foran purchased 2,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were bought at an average price of $55.96 per share, with a total value of $111,920.00. Following the completion of the purchase, the chief executive officer now directly owns 35,251 shares in the company, valued at $1,972,645.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Robert T. Macalik acquired 500 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was acquired at an average cost of $54.50 per share, with a total value of $27,250.00. Following the completion of the purchase, the chief accounting officer now directly owns 29,300 shares in the company, valued at $1,596,850. The disclosure for this purchase can be found here. Insiders acquired 4,250 shares of company stock worth $236,995 in the last three months. 6.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Capital One Financial raised Matador Resources from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $80.00 to $84.00 in a research report on Thursday, July 25th. Truist Financial dropped their price target on shares of Matador Resources from $91.00 to $86.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. KeyCorp increased their price objective on shares of Matador Resources from $71.00 to $76.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Stephens cut their target price on shares of Matador Resources from $83.00 to $81.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Finally, Wells Fargo & Company boosted their target price on shares of Matador Resources from $88.00 to $89.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $78.17.

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.