Matador Resources Company (NYSE:MTDR) Declares $0.31 Quarterly Dividend

Matador Resources Company (NYSE:MTDR - Get Free Report) announced a quarterly dividend on Tuesday, July 15th, RTT News reports. Stockholders of record on Friday, August 15th will be paid a dividend of 0.3125 per share by the energy company on Friday, September 5th. This represents a $1.25 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Friday, August 15th.

Matador Resources has a payout ratio of 20.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Matador Resources to earn $8.62 per share next year, which means the company should continue to be able to cover its $1.25 annual dividend with an expected future payout ratio of 14.5%.

Matador Resources Stock Performance

Shares of NYSE:MTDR traded up $1.66 during trading on Thursday, hitting $51.75. 1,818,061 shares of the stock were exchanged, compared to its average volume of 1,566,212. The company's fifty day simple moving average is $47.68 and its 200-day simple moving average is $49.82. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.76 and a current ratio of 0.79. The company has a market capitalization of $6.48 billion, a price-to-earnings ratio of 6.95 and a beta of 1.46. Matador Resources has a 1-year low of $35.19 and a 1-year high of $66.03.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The energy company reported $1.99 EPS for the quarter, beating the consensus estimate of $1.74 by $0.25. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $980.87 million. Matador Resources had a return on equity of 18.45% and a net margin of 24.97%. Matador Resources's quarterly revenue was up 28.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.71 EPS. Sell-side analysts expect that Matador Resources will post 8.53 EPS for the current fiscal year.

Insider Activity at Matador Resources

In related news, CEO Joseph Wm Foran acquired 2,500 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The stock was acquired at an average cost of $39.63 per share, with a total value of $99,075.00. Following the completion of the purchase, the chief executive officer directly owned 60,756 shares in the company, valued at approximately $2,407,760.28. This trade represents a 4.29% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Van H. Singleton II acquired 1,000 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were bought at an average cost of $40.72 per share, with a total value of $40,720.00. Following the completion of the purchase, the insider owned 291,135 shares of the company's stock, valued at $11,855,017.20. This trade represents a 0.34% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 14,850 shares of company stock valued at $601,103 over the last quarter. 5.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Matador Resources

A hedge fund recently raised its stake in Matador Resources stock. Jones Financial Companies Lllp increased its stake in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 1,104.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,012 shares of the energy company's stock after purchasing an additional 1,845 shares during the period. Jones Financial Companies Lllp's holdings in Matador Resources were worth $103,000 as of its most recent SEC filing. 91.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MTDR has been the topic of several recent analyst reports. Bank of America initiated coverage on Matador Resources in a research note on Monday, May 19th. They issued a "buy" rating and a $56.00 price target on the stock. Royal Bank Of Canada decreased their price target on Matador Resources from $70.00 to $62.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Morgan Stanley cut their price objective on Matador Resources from $84.00 to $68.00 and set an "equal weight" rating for the company in a research report on Thursday, March 27th. Stephens cut their price objective on Matador Resources from $90.00 to $86.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Finally, KeyCorp cut their price objective on Matador Resources from $72.00 to $60.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Matador Resources presently has a consensus rating of "Moderate Buy" and an average price target of $69.13.

Matador Resources announced that its Board of Directors has approved a stock buyback plan on Wednesday, April 23rd that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the energy company to reacquire up to 7.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

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.