Matador Resources (NYSE:MTDR) Price Target Raised to $75.00

Matador Resources (NYSE:MTDR - Free Report) had its target price boosted by TD Cowen from $74.00 to $75.00 in a research report report published on Thursday morning,Benzinga reports. TD Cowen currently has a buy rating on the energy company's stock.

Several other analysts have also recently commented on the company. Benchmark reiterated a "buy" rating and set a $62.00 price target on shares of Matador Resources in a research report on Wednesday, October 23rd. Stephens increased their price objective on shares of Matador Resources from $78.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, December 6th. Royal Bank of Canada restated an "outperform" rating and issued a $70.00 price target on shares of Matador Resources in a research report on Friday, December 6th. Mizuho lowered their price objective on Matador Resources from $74.00 to $73.00 and set an "outperform" rating on the stock in a research note on Monday. Finally, Truist Financial cut their target price on Matador Resources from $86.00 to $75.00 and set a "buy" rating for the company in a research note on Monday, September 30th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $74.38.

Matador Resources Price Performance

Shares of Matador Resources stock traded down $0.83 on Thursday, reaching $52.59. The company's stock had a trading volume of 1,170,913 shares, compared to its average volume of 1,491,634. The company has a quick ratio of 0.84, a current ratio of 0.88 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $6.56 billion, a P/E ratio of 6.97 and a beta of 3.26. The stock has a 50-day moving average price of $55.56 and a 200-day moving average price of $56.17. Matador Resources has a 52-week low of $47.15 and a 52-week high of $71.08.

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

Matador Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 15th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, November 15th. This is a positive change from Matador Resources's previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a yield of 1.90%. Matador Resources's dividend payout ratio is 13.25%.

Insiders Place Their Bets

In other news, EVP Glenn W. Stetson bought 1,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased at an average price of $51.33 per share, for a total transaction of $51,330.00. Following the completion of the purchase, the executive vice president now owns 85,935 shares in the company, valued at approximately $4,411,043.55. This trade represents a 1.18 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP William Thomas Elsener purchased 800 shares of the firm's stock in a transaction on Friday, December 13th. The shares were acquired at an average cost of $56.60 per share, with a total value of $45,280.00. Following the completion of the acquisition, the executive vice president now directly owns 102,964 shares in the company, valued at $5,827,762.40. The trade was a 0.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 4,285 shares of company stock worth $232,849 over the last 90 days. Corporate insiders own 6.10% of the company's stock.

Institutional Investors Weigh In On Matador Resources

Hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James & Associates lifted its position in Matador Resources by 12.0% in the second quarter. Raymond James & Associates now owns 201,214 shares of the energy company's stock valued at $11,992,000 after acquiring an additional 21,495 shares during the last quarter. Fifth Third Bancorp boosted its stake in Matador Resources by 16.6% during the 2nd quarter. Fifth Third Bancorp now owns 1,709 shares of the energy company's stock worth $102,000 after purchasing an additional 243 shares during the period. Fifth Third Wealth Advisors LLC purchased a new position in Matador Resources during the 2nd quarter worth $203,000. Louisiana State Employees Retirement System increased its stake in Matador Resources by 2.8% in the second quarter. Louisiana State Employees Retirement System now owns 32,800 shares of the energy company's stock valued at $1,955,000 after purchasing an additional 900 shares during the period. Finally, New York State Teachers Retirement System increased its stake in Matador Resources by 5.7% in the second quarter. New York State Teachers Retirement System now owns 123,864 shares of the energy company's stock valued at $7,382,000 after purchasing an additional 6,704 shares during the period. Institutional investors and hedge funds 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.