Matador Resources Company (NYSE:MTDR) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Matador Resources Company has received an average recommendation of "Moderate Buy" from 16 analysts, with a consensus target price of $67.27 for the next year.
• Insider transactions saw the Executive Vice President and COO both acquiring shares of Matador Resources, indicating confidence in the company's performance.
• The company reported better than expected quarterly earnings of $1.53 per share, surpassing analyst estimates, along with a revenue increase of 8.2% year-over-year.

Matador Resources Company (NYSE:MTDR - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the sixteen analysts that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $67.2667.

A number of equities analysts have commented on the company. KeyCorp decreased their price target on Matador Resources from $62.00 to $61.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 3rd. TD Cowen raised Matador Resources to a "strong-buy" rating in a research note on Monday, July 7th. Wells Fargo & Company decreased their price target on Matador Resources from $80.00 to $74.00 and set an "overweight" rating on the stock in a research note on Monday, June 16th. UBS Group decreased their price target on Matador Resources from $49.00 to $48.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 20th. Finally, Morgan Stanley lifted their price target on Matador Resources from $60.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Monday, August 18th.

Insider Transactions at Matador Resources

In other Matador Resources news, EVP William Thomas Elsener acquired 600 shares of the business's stock in a transaction dated Thursday, September 11th. The shares were purchased at an average cost of $48.46 per share, for a total transaction of $29,076.00. Following the transaction, the executive vice president owned 112,069 shares in the company, valued at $5,430,863.74. This represents a 0.54% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Christopher P. Calvert acquired 1,000 shares of the business's stock in a transaction dated Friday, September 12th. The stock was acquired at an average price of $47.77 per share, for a total transaction of $47,770.00. Following the completion of the transaction, the chief operating officer owned 37,500 shares in the company, valued at approximately $1,791,375. The trade was a 2.74% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 11,380 shares of company stock worth $549,188. 5.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Matador Resources

A number of large investors have recently made changes to their positions in MTDR. Adage Capital Partners GP L.L.C. grew its position in shares of Matador Resources by 143.1% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,556,472 shares of the energy company's stock worth $121,995,000 after buying an additional 1,505,000 shares during the last quarter. LSV Asset Management boosted its position in shares of Matador Resources by 45.7% during the second quarter. LSV Asset Management now owns 3,334,775 shares of the energy company's stock valued at $159,135,000 after purchasing an additional 1,045,396 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Matador Resources by 7.6% during the first quarter. Vanguard Group Inc. now owns 13,511,643 shares of the energy company's stock valued at $690,310,000 after purchasing an additional 956,090 shares in the last quarter. Encompass Capital Advisors LLC bought a new stake in shares of Matador Resources during the second quarter valued at approximately $37,194,000. Finally, Nuveen LLC bought a new stake in shares of Matador Resources during the first quarter valued at approximately $35,715,000. 91.98% of the stock is currently owned by institutional investors.

Matador Resources Stock Performance

Shares of NYSE MTDR opened at $45.90 on Tuesday. The stock has a market cap of $5.71 billion, a price-to-earnings ratio of 6.72 and a beta of 1.49. The company has a current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 0.57. Matador Resources has a 1-year low of $35.19 and a 1-year high of $64.04. The stock's 50-day moving average is $48.66 and its 200 day moving average is $46.85.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The energy company reported $1.53 earnings per share for the quarter, beating analysts' consensus estimates of $1.29 by $0.24. The company had revenue of $895.31 million for the quarter, compared to analysts' expectations of $892.86 million. Matador Resources had a return on equity of 16.53% and a net margin of 22.57%.Matador Resources's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period last year, the firm posted $2.05 EPS. On average, sell-side analysts anticipate that Matador Resources will post 8.53 EPS for the current fiscal year.

Matador Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 15th were given a $0.3125 dividend. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Friday, August 15th. Matador Resources's dividend payout ratio (DPR) is currently 18.30%.

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.

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