Brokerages Set Matador Resources (NYSE:MTDR) Price Target at $74.92

Shares of Matador Resources (NYSE:MTDR - Get Free Report) have received an average rating of "Moderate Buy" from the fourteen research firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $74.92.

Several equities analysts have weighed in on MTDR shares. Truist Financial dropped their target price on Matador Resources from $86.00 to $75.00 and set a "buy" rating for the company in a research report on Monday, September 30th. Royal Bank of Canada restated an "outperform" rating and issued a $70.00 price objective on shares of Matador Resources in a report on Thursday, October 24th. BMO Capital Markets increased their target price on shares of Matador Resources from $75.00 to $78.00 and gave the stock an "outperform" rating in a report on Friday, October 4th. Benchmark restated a "buy" rating and issued a $62.00 price target on shares of Matador Resources in a research note on Wednesday, October 23rd. Finally, KeyCorp cut their price objective on Matador Resources from $76.00 to $72.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 16th.

Insider Transactions at Matador Resources

In other news, CFO Brian J. Willey bought 1,500 shares of the business's stock in a transaction dated Friday, September 6th. The shares were acquired at an average price of $50.50 per share, for a total transaction of $75,750.00. Following the completion of the transaction, the chief financial officer now owns 1,500 shares of the company's stock, valued at approximately $75,750. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Bryan A. Erman bought 1,000 shares of Matador Resources stock in a transaction dated Friday, September 6th. The stock was purchased at an average cost of $50.35 per share, with a total value of $50,350.00. Following the completion of the acquisition, the executive vice president now directly owns 2,750 shares in the company, valued at approximately $138,462.50. The trade was a 57.14 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 11,105 shares of company stock valued at $562,306. 6.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MTDR. Denver PWM LLC purchased a new position in shares of Matador Resources during the second quarter worth approximately $27,000. True Wealth Design LLC purchased a new position in Matador Resources during the 3rd quarter worth $37,000. Avior Wealth Management LLC grew its position in Matador Resources by 329.0% during the 3rd quarter. Avior Wealth Management LLC now owns 828 shares of the energy company's stock worth $41,000 after purchasing an additional 635 shares during the last quarter. Quarry LP increased its stake in 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 purchasing an additional 251 shares during the period. Finally, Advisors Asset Management Inc. raised its holdings in shares of Matador Resources by 191.8% in the first quarter. Advisors Asset Management Inc. now owns 709 shares of the energy company's stock valued at $47,000 after buying an additional 466 shares during the last quarter. Institutional investors and hedge funds own 91.98% of the company's stock.

Matador Resources Stock Performance

NYSE:MTDR opened at $58.85 on Wednesday. Matador Resources has a fifty-two week low of $47.15 and a fifty-two week high of $71.08. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.88. The company has a 50 day moving average price of $53.66 and a 200 day moving average price of $56.71. The stock has a market capitalization of $7.34 billion, a P/E ratio of 7.79 and a beta of 3.26.

Matador Resources (NYSE:MTDR - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The energy company reported $1.89 EPS for the quarter, topping analysts' consensus estimates of $1.78 by $0.11. Matador Resources had a return on equity of 20.01% and a net margin of 27.45%. The company had revenue of $770.20 million for the quarter, compared to analysts' expectations of $836.69 million. During the same period in the prior year, the firm earned $1.86 earnings per share. The firm's revenue was up 9.8% compared to the same quarter last year. Equities research analysts forecast that Matador Resources will post 7.5 EPS for the current year.

Matador Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.70%. This is an increase from Matador Resources's previous quarterly dividend of $0.20. The ex-dividend date is Friday, November 15th. Matador Resources's payout ratio is 13.25%.

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.