Truist Financial Boosts Matador Resources (NYSE:MTDR) Price Target to $80.00

Matador Resources (NYSE:MTDR - Free Report) had its price target increased by Truist Financial from $75.00 to $80.00 in a report issued on Monday,Benzinga reports. The firm currently has a buy rating on the energy company's stock.

A number of other equities research analysts have also recently issued reports on MTDR. Stephens upped their price target 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 reissued an "outperform" rating and set a $70.00 target price on shares of Matador Resources in a research report on Friday, December 6th. Mizuho cut their price target on Matador Resources from $74.00 to $73.00 and set an "outperform" rating for the company in a report on Monday, December 16th. Wells Fargo & Company lifted their price objective on Matador Resources from $87.00 to $91.00 and gave the stock an "overweight" rating in a report on Tuesday, December 17th. Finally, Benchmark reissued a "buy" rating and set a $62.00 price target on shares of Matador Resources in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, Matador Resources has a consensus rating of "Moderate Buy" and a consensus price target of $75.14.

Matador Resources Stock Up 1.2 %

Matador Resources stock traded up $0.72 during mid-day trading on Monday, hitting $61.97. 1,317,164 shares of the company's stock were exchanged, compared to its average volume of 1,208,538. Matador Resources has a 1-year low of $47.15 and a 1-year high of $71.08. The stock has a 50 day moving average of $57.16 and a two-hundred day moving average of $55.99. The stock has a market cap of $7.73 billion, a P/E ratio of 8.21 and a beta of 3.24. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share (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 firm had revenue of $770.20 million during the quarter, compared to analysts' expectations of $836.69 million. During the same quarter in the prior year, the business earned $1.86 earnings per share. The company's revenue was up 9.8% on a year-over-year basis. As a group, analysts anticipate that Matador Resources will post 7.49 EPS for the current fiscal year.

Matador Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 15th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Friday, November 15th. This is an increase from Matador Resources's previous quarterly dividend of $0.20. Matador Resources's dividend payout ratio is currently 13.25%.

Insiders Place Their Bets

In other Matador Resources news, EVP William Thomas Elsener purchased 800 shares of the stock in a transaction on Friday, December 13th. The stock was bought at an average cost of $56.60 per share, for a total transaction of $45,280.00. Following the completion of the acquisition, the executive vice president now directly owns 102,964 shares of the company's stock, valued at $5,827,762.40. The trade was a 0.78 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Glenn W. Stetson acquired 1,000 shares of the business's stock in a transaction dated Wednesday, October 30th. The shares were acquired at an average price of $51.33 per share, for a total transaction 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 represents a 1.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 4,285 shares of company stock worth $232,849. Insiders own 6.10% of the company's stock.

Hedge Funds Weigh In On Matador Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. American Century Companies Inc. boosted its position in shares of Matador Resources by 2.9% during the second quarter. American Century Companies Inc. now owns 561,671 shares of the energy company's stock worth $33,476,000 after buying an additional 15,835 shares during the period. Oppenheimer Asset Management Inc. raised its holdings in shares of Matador Resources by 32.1% in the second quarter. Oppenheimer Asset Management Inc. now owns 24,674 shares of the energy company's stock valued at $1,471,000 after purchasing an additional 5,992 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Matador Resources by 1.5% during the second quarter. Envestnet Asset Management Inc. now owns 202,960 shares of the energy company's stock worth $12,096,000 after purchasing an additional 2,978 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Matador Resources by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 4,734,819 shares of the energy company's stock valued at $282,196,000 after purchasing an additional 356,506 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Matador Resources in the 2nd quarter valued at $10,162,000. 91.98% of the stock is owned by institutional investors and hedge funds.

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.