Matador Resources (NYSE:MTDR) Receives $70.73 Average PT from Analysts

Shares of Matador Resources (NYSE:MTDR - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the fifteen brokerages that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $70.33.

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Matador Resources from $65.00 to $61.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Benchmark reaffirmed a "buy" rating and set a $62.00 target price on shares of Matador Resources in a report on Friday, January 17th. Truist Financial increased their price target on shares of Matador Resources from $75.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Raymond James dropped their price objective on shares of Matador Resources from $77.00 to $67.00 and set an "outperform" rating on the stock in a report on Monday, March 10th. Finally, Royal Bank of Canada decreased their target price on shares of Matador Resources from $70.00 to $62.00 and set an "outperform" rating for the company in a research report on Friday, April 11th.

Insiders Place Their Bets

In other news, CEO Joseph Wm Foran bought 5,000 shares of the stock in a transaction that occurred on Tuesday, April 29th. The stock was bought at an average cost of $40.86 per share, for a total transaction of $204,300.00. Following the acquisition, the chief executive officer now directly owns 50,756 shares of the company's stock, valued at $2,073,890.16. The trade was a 10.93 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Paul W. Harvey purchased 600 shares of the firm's stock in a transaction on Friday, February 21st. The stock was acquired at an average cost of $55.20 per share, with a total value of $33,120.00. Following the transaction, the director now directly owns 27,917 shares in the company, valued at $1,541,018.40. This trade represents a 2.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 26,350 shares of company stock valued at $1,305,069 over the last ninety days. Company insiders own 6.10% of the company's stock.

Institutional Trading of Matador Resources

Institutional investors have recently modified their holdings of the business. TCTC Holdings LLC raised its stake in Matador Resources by 53.8% during the 4th quarter. TCTC Holdings LLC now owns 500 shares of the energy company's stock valued at $28,000 after purchasing an additional 175 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of Matador Resources by 68.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 510 shares of the energy company's stock worth $29,000 after buying an additional 207 shares during the period. Concurrent Investment Advisors LLC grew its holdings in shares of Matador Resources by 0.4% in the 1st quarter. Concurrent Investment Advisors LLC now owns 55,482 shares of the energy company's stock worth $2,835,000 after purchasing an additional 244 shares during the last quarter. Atria Investments Inc raised its stake in shares of Matador Resources by 3.1% in the fourth quarter. Atria Investments Inc now owns 8,188 shares of the energy company's stock valued at $461,000 after acquiring an additional 249 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Matador Resources by 108.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company's stock worth $28,000 after purchasing an additional 256 shares in the last quarter. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Matador Resources Price Performance

Shares of MTDR traded down $1.69 during trading hours on Friday, reaching $39.33. 1,156,833 shares of the stock traded hands, compared to its average volume of 1,580,940. The company has a current ratio of 0.93, a quick ratio of 0.84 and a debt-to-equity ratio of 0.61. The company has a market cap of $4.92 billion, a P/E ratio of 5.51 and a beta of 2.74. Matador Resources has a 52-week low of $35.19 and a 52-week high of $66.89. The company's 50-day moving average price is $45.95 and its two-hundred day moving average price is $53.18.

Matador Resources (NYSE:MTDR - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The energy company reported $1.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.74 by $0.25. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $980.87 million. Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. The company's quarterly revenue was up 28.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.71 earnings per share. On average, analysts anticipate that Matador Resources will post 8.53 earnings per share for the current year.

Matador Resources announced that its Board of Directors has initiated a share buyback plan on Wednesday, April 23rd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the energy company to buy up to 7.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Matador Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be given a $0.3125 dividend. The ex-dividend date is Friday, May 9th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 3.18%. Matador Resources's dividend payout ratio (DPR) is presently 16.78%.

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.