Matador Resources (NYSE:MTDR) Price Target Raised to $91.00

Matador Resources (NYSE:MTDR) had its price objective raised by Wells Fargo & Company from $87.00 to $91.00 in a research note released on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the energy company’s stock.

Several other equities analysts have also issued reports on the stock. Mizuho cut their price target on shares of Matador Resources from $74.00 to $73.00 and set an “outperform” rating on the stock in a report on Monday. BMO Capital Markets upped their target price on Matador Resources from $75.00 to $78.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Stephens raised their price target on Matador Resources from $78.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Benchmark restated a “buy” rating and set a $62.00 price target on shares of Matador Resources in a research note on Wednesday, October 23rd. Finally, Truist Financial decreased their price objective on shares of Matador Resources from $86.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $75.31.

Matador Resources Trading Down 0.9 %

Shares of NYSE MTDR opened at $55.69 on Tuesday. Matador Resources has a 1-year low of $47.15 and a 1-year high of $71.08. The business has a fifty day moving average price of $55.53 and a 200 day moving average price of $56.27. The stock has a market capitalization of $6.95 billion, a P/E ratio of 7.38 and a beta of 3.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.84.

Matador Resources (NYSE:MTDR) last released its quarterly earnings results on Tuesday, October 22nd. The energy company reported $1.89 EPS for the quarter, beating the consensus estimate of $1.78 by $0.11. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The business had revenue of $770.20 million during the quarter, compared to analyst estimates of $836.69 million. During the same period in the prior year, the firm posted $1.86 earnings per share. The company’s quarterly revenue was up 9.8% on a year-over-year basis. Equities research analysts expect that Matador Resources will post 7.49 EPS for the current fiscal year.

Matador Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 15th were given a dividend of $0.25 per share. This is an increase from Matador Resources’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend was Friday, November 15th. Matador Resources’s dividend payout ratio (DPR) is currently 13.25%.

Insider Activity

In other news, EVP Glenn W. Stetson bought 1,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was purchased at an average cost of $51.33 per share, with a total value of $51,330.00. Following the acquisition, the executive vice president now directly owns 85,935 shares in the company, valued at $4,411,043.55. This trade represents a 1.18 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Joseph Wm Foran purchased 2,000 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were purchased at an average cost of $55.18 per share, for a total transaction of $110,360.00. Following the completion of the acquisition, the chief executive officer now directly owns 42,251 shares of the company’s stock, valued at $2,331,410.18. This represents a 4.97 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 4,285 shares of company stock valued at $232,849 in the last quarter. 6.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MTDR. Raymond James Trust N.A. grew its position in shares of Matador Resources by 3.6% during the 2nd quarter. Raymond James Trust N.A. now owns 5,714 shares of the energy company’s stock valued at $341,000 after acquiring an additional 198 shares during the period. ClearAlpha Technologies LP boosted its position in Matador Resources by 4.3% during the third quarter. ClearAlpha Technologies LP now owns 5,250 shares of the energy company’s stock worth $259,000 after purchasing an additional 218 shares in the last quarter. Fifth Third Bancorp grew its holdings in Matador Resources by 16.6% in the second quarter. Fifth Third Bancorp now owns 1,709 shares of the energy company’s stock valued at $102,000 after purchasing an additional 243 shares during the period. Quarry LP increased its position in shares of Matador Resources by 47.5% in the second quarter. Quarry LP now owns 779 shares of the energy company’s stock valued at $46,000 after buying an additional 251 shares in the last quarter. Finally, Greenleaf Trust raised its stake in shares of Matador Resources by 3.8% during the 3rd quarter. Greenleaf Trust now owns 7,086 shares of the energy company’s stock worth $350,000 after buying an additional 260 shares during the period. Institutional investors and hedge funds own 91.98% of the company’s stock.

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.