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

Shares of Matador Resources (NYSE:MTDR - Get Free Report) have received a consensus rating of "Moderate Buy" from the fourteen brokerages that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $74.92.

A number of research firms have recently commented on MTDR. KeyCorp cut their price target on shares of Matador Resources from $76.00 to $72.00 and set an "overweight" rating on the stock in a report on Wednesday, October 16th. TD Cowen upped their price target on shares of Matador Resources from $85.00 to $87.00 and gave the stock a "buy" rating in a report on Wednesday, July 24th. Wells Fargo & Company cut their price target on shares of Matador Resources from $89.00 to $87.00 and set an "overweight" rating on the stock in a report on Tuesday, October 1st. Truist Financial cut their price target on shares of Matador Resources from $86.00 to $75.00 and set a "buy" rating on the stock in a report on Monday, September 30th. Finally, Wolfe Research initiated coverage on shares of Matador Resources in a report on Thursday, July 18th. They issued a "peer perform" rating on the stock.

Matador Resources Trading Down 1.0 %

Shares of MTDR traded down $0.52 during midday trading on Friday, hitting $51.59. The stock had a trading volume of 1,665,834 shares, compared to its average volume of 1,825,418. Matador Resources has a 1 year low of $47.15 and a 1 year high of $71.08. The firm has a market cap of $6.44 billion, a PE ratio of 6.83 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. The stock's 50 day moving average is $52.23 and its 200 day moving average is $57.59.

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 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 for the quarter, compared to the consensus estimate of $836.69 million. During the same quarter in the prior year, the firm posted $1.86 earnings per share. The business's revenue for the quarter was up 9.8% on a year-over-year basis. As a group, analysts forecast that Matador Resources will post 7.45 EPS for the current fiscal year.

Matador Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be issued a $0.25 dividend. This is a boost from Matador Resources's previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Friday, November 15th. Matador Resources's dividend payout ratio (DPR) is currently 10.60%.

Insider Activity at Matador Resources

In related news, CAO Robert T. Macalik acquired 500 shares of the firm's stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average cost of $50.25 per share, with a total value of $25,125.00. Following the transaction, the chief accounting officer now directly owns 29,800 shares of the company's stock, valued at $1,497,450. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CAO Robert T. Macalik acquired 500 shares of the firm's stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average cost of $50.25 per share, with a total value of $25,125.00. Following the transaction, the chief accounting officer now directly owns 29,800 shares of the company's stock, valued at $1,497,450. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Bryan A. Erman acquired 1,000 shares of the firm's stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average cost of $50.35 per share, with a total value of $50,350.00. Following the completion of the transaction, the executive vice president now directly owns 2,750 shares in the company, valued at $138,462.50. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 11,105 shares of company stock valued at $562,306 in the last three months. 6.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Matador Resources

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Matador Resources by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 11,124,705 shares of the energy company's stock worth $742,797,000 after buying an additional 103,713 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Matador Resources by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,734,819 shares of the energy company's stock worth $282,196,000 after buying an additional 356,506 shares during the last quarter. Clearbridge Investments LLC raised its position in Matador Resources by 10.5% during the 2nd quarter. Clearbridge Investments LLC now owns 2,250,036 shares of the energy company's stock worth $134,102,000 after buying an additional 214,334 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Matador Resources by 5.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,104,791 shares of the energy company's stock worth $73,768,000 after purchasing an additional 53,322 shares during the period. Finally, Boston Trust Walden Corp acquired a new stake in shares of Matador Resources during the 3rd quarter worth approximately $51,788,000. 91.98% of the stock is owned by hedge funds and other institutional investors.

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.