Brokerages Set Matador Resources (NYSE:MTDR) Target Price at $73.79

Matador Resources (NYSE:MTDR - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the fourteen brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $73.79.

MTDR has been the topic of a number of recent research reports. Raymond James cut 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. Truist Financial raised their price target on Matador Resources from $75.00 to $80.00 and gave the company a "buy" rating in a report on Monday, January 13th. Morgan Stanley dropped their price target on shares of Matador Resources from $84.00 to $68.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 27th. Wolfe Research raised shares of Matador Resources from a "peer perform" rating to an "outperform" rating and set a $72.00 price objective on the stock in a research report on Friday, January 3rd. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $70.00 price objective on shares of Matador Resources in a report on Wednesday, January 15th.

Matador Resources Stock Performance

NYSE MTDR traded up $1.14 on Tuesday, hitting $52.25. 1,123,665 shares of the stock traded hands, compared to its average volume of 1,492,539. The firm has a market capitalization of $6.54 billion, a price-to-earnings ratio of 7.32 and a beta of 3.17. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.84 and a current ratio of 0.93. The business's fifty day moving average is $53.57 and its two-hundred day moving average is $54.92. Matador Resources has a 12 month low of $43.89 and a 12 month high of $71.08.

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Matador Resources (NYSE:MTDR - Get Free Report) last released its earnings results on Tuesday, February 18th. The energy company reported $1.83 earnings per share for the quarter, missing analysts' consensus estimates of $1.88 by ($0.05). Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. The firm had revenue of $970.37 million during the quarter, compared to the consensus estimate of $967.10 million. As a group, equities analysts anticipate that Matador Resources will post 8.53 EPS for the current fiscal year.

Matador Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.3125 dividend. This represents a $1.25 annualized dividend and a yield of 2.39%. This is a positive change from Matador Resources's previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 28th. Matador Resources's dividend payout ratio is currently 17.51%.

Insider Activity at Matador Resources

In other news, COO Christopher P. Calvert acquired 1,300 shares of Matador Resources stock in a transaction that occurred on Friday, February 21st. The shares were bought at an average cost of $55.17 per share, with a total value of $71,721.00. Following the transaction, the chief operating officer now directly owns 34,000 shares of the company's stock, valued at $1,875,780. This trade represents a 3.98 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Joseph Wm Foran acquired 6,000 shares of the company's stock in a transaction dated Friday, February 21st. The shares were acquired at an average price of $53.94 per share, for a total transaction of $323,640.00. Following the completion of the purchase, the chief executive officer now owns 39,379 shares of the company's stock, valued at approximately $2,124,103.26. This represents a 17.98 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 21,350 shares of company stock valued at $1,100,769. 6.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC boosted its position in Matador Resources by 162.9% during the third quarter. FMR LLC now owns 478,795 shares of the energy company's stock worth $23,662,000 after purchasing an additional 296,663 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Matador Resources during the third quarter worth $891,000. BNP Paribas Financial Markets lifted its stake in shares of Matador Resources by 71.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 26,959 shares of the energy company's stock valued at $1,332,000 after purchasing an additional 11,218 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Matador Resources by 14.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,843 shares of the energy company's stock worth $1,030,000 after purchasing an additional 2,578 shares during the period. Finally, Captrust Financial Advisors grew its holdings in shares of Matador Resources by 19.5% during the 3rd quarter. Captrust Financial Advisors now owns 44,469 shares of the energy company's stock worth $2,198,000 after purchasing an additional 7,254 shares during the period. Hedge funds and other institutional investors own 91.98% of the company's stock.

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.