Matador Resources Company (NYSE:MTDR) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Matador Resources Company has received a consensus rating of "Moderate Buy" from sixteen brokerages, with twelve analysts recommending a buy and three suggesting a hold.
• The average one-year price target for Matador Resources is $66.36, reflecting some analyst adjustments, including a recent downgrade from KeyCorp and Morgan Stanley.
• The company has announced an increase in its quarterly dividend from $0.31 to $0.375, which translates to an annual yield of approximately 3.5% for investors holding the stock by the ex-dividend date of November 10th.

Matador Resources Company (NYSE:MTDR - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the sixteen brokerages that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $66.3571.

A number of research firms have recently commented on MTDR. KeyCorp cut their price objective on shares of Matador Resources from $62.00 to $61.00 and set an "overweight" rating for the company in a research report on Wednesday, September 3rd. Morgan Stanley cut their price objective on shares of Matador Resources from $62.00 to $61.00 and set an "equal weight" rating for the company in a research report on Tuesday. Royal Bank Of Canada raised their price objective on shares of Matador Resources from $60.00 to $62.00 and gave the company an "outperform" rating in a research report on Wednesday, October 8th. Wells Fargo & Company cut their price objective on shares of Matador Resources from $77.00 to $76.00 and set an "overweight" rating for the company in a research report on Monday, October 13th. Finally, Raymond James Financial raised their price objective on shares of Matador Resources from $60.00 to $63.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st.

Matador Resources Price Performance

Shares of NYSE:MTDR opened at $43.00 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $5.35 billion, a PE ratio of 6.30 and a beta of 1.41. Matador Resources has a twelve month low of $35.19 and a twelve month high of $64.04. The company has a 50-day moving average price of $46.80 and a two-hundred day moving average price of $46.18.

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

Matador Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 10th will be paid a $0.375 dividend. This is an increase from Matador Resources's previous quarterly dividend of $0.31. This represents a $1.50 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Monday, November 10th. Matador Resources's payout ratio is 18.30%.

Insider Activity at Matador Resources

In related news, EVP William Thomas Elsener bought 600 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were acquired at an average cost of $48.46 per share, with a total value of $29,076.00. Following the completion of the purchase, the executive vice president directly owned 112,069 shares of the company's stock, valued at $5,430,863.74. This trade represents a 0.54% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Joseph Wm Foran bought 2,000 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was bought at an average cost of $48.15 per share, for a total transaction of $96,300.00. Following the completion of the purchase, the chief executive officer directly owned 8,025 shares of the company's stock, valued at $386,403.75. This represents a 33.20% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 11,380 shares of company stock valued at $549,188 over the last three months. 5.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Matador Resources

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC raised its stake in Matador Resources by 56.4% in the third quarter. CWM LLC now owns 28,124 shares of the energy company's stock valued at $1,264,000 after purchasing an additional 10,143 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in shares of Matador Resources by 105.3% during the third quarter. Exchange Traded Concepts LLC now owns 15,489 shares of the energy company's stock worth $696,000 after acquiring an additional 7,944 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Matador Resources by 19.3% during the third quarter. GAMMA Investing LLC now owns 3,119 shares of the energy company's stock worth $140,000 after acquiring an additional 505 shares in the last quarter. Corient Private Wealth LLC raised its stake in shares of Matador Resources by 12.9% during the second quarter. Corient Private Wealth LLC now owns 22,235 shares of the energy company's stock worth $1,061,000 after acquiring an additional 2,548 shares in the last quarter. Finally, Texas Permanent School Fund Corp raised its stake in shares of Matador Resources by 39.5% during the second quarter. Texas Permanent School Fund Corp now owns 132,396 shares of the energy company's stock worth $6,318,000 after acquiring an additional 37,464 shares in the last quarter. 91.98% of the stock is 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.

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