Matador Resources (NYSE:MTDR) Price Target Raised to $76.00

Matador Resources (NYSE:MTDR) had its price objective upped by Stephens from $74.00 to $76.00 in a report published on Friday, Benzinga reports. The firm currently has an overweight rating on the energy company’s stock.

A number of other equities research analysts also recently weighed in on MTDR. Wells Fargo & Company raised their target price on Matador Resources from $88.00 to $89.00 and gave the company an overweight rating in a report on Monday, July 29th. Mizuho decreased their target price on Matador Resources from $85.00 to $74.00 and set an outperform rating on the stock in a research report on Monday, September 16th. JPMorgan Chase & Co. dropped their target price on shares of Matador Resources from $83.00 to $76.00 and set an overweight rating for the company in a report on Thursday, September 12th. Wolfe Research assumed coverage on shares of Matador Resources in a report on Thursday, July 18th. They set a peer perform rating on the stock. Finally, Royal Bank of Canada reissued an outperform rating and issued a $75.00 price objective on shares of Matador Resources in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Matador Resources currently has an average rating of Moderate Buy and a consensus price target of $76.75.

Matador Resources Stock Performance

Shares of NYSE:MTDR opened at $49.36 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 0.41. Matador Resources has a 12-month low of $47.15 and a 12-month high of $71.08. The company’s 50 day moving average price is $54.97 and its two-hundred day moving average price is $60.21. The firm has a market cap of $6.16 billion, a PE ratio of 6.76 and a beta of 3.27.

Matador Resources (NYSE:MTDR) last issued its earnings results on Tuesday, July 23rd. The energy company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.76 by $0.29. The company had revenue of $847.14 million during the quarter, compared to analysts’ expectations of $822.55 million. Matador Resources had a net margin of 29.01% and a return on equity of 21.12%. The business’s revenue for the quarter was up 32.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.42 EPS. Equities research analysts predict that Matador Resources will post 7.63 earnings per share for the current year.

Matador Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 15th were issued a $0.20 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.80 dividend on an annualized basis and a yield of 1.62%. Matador Resources’s payout ratio is 10.96%.

Insider Buying and Selling

In related news, CEO Joseph Wm Foran purchased 2,500 shares of Matador Resources stock in a transaction on Monday, September 9th. The shares were purchased at an average price of $49.97 per share, for a total transaction of $124,925.00. Following the transaction, the chief executive officer now owns 40,251 shares of the company’s stock, valued at approximately $2,011,342.47. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Joseph Wm Foran purchased 2,500 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were purchased at an average price of $49.97 per share, for a total transaction of $124,925.00. Following the transaction, the chief executive officer now owns 40,251 shares of the company’s stock, valued at $2,011,342.47. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Robert T. Macalik acquired 500 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were purchased at an average price of $54.50 per share, with a total value of $27,250.00. Following the completion of the transaction, the chief accounting officer now owns 29,300 shares of the company’s stock, valued at $1,596,850. The disclosure for this purchase can be found here. Insiders purchased a total of 12,300 shares of company stock valued at $634,615 in the last three months. Insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in MTDR. Goldman Sachs Group Inc. increased its holdings in Matador Resources by 31.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,206,041 shares of the energy company’s stock worth $125,435,000 after purchasing an additional 531,504 shares in the last quarter. Element Capital Management LLC acquired a new stake in shares of Matador Resources during the 1st quarter worth approximately $28,572,000. Public Employees Retirement Association of Colorado increased its stake in shares of Matador Resources by 14,874.4% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 427,520 shares of the energy company’s stock valued at $24,309,000 after acquiring an additional 424,665 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of 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 valued at $282,196,000 after acquiring an additional 356,506 shares during the period. Finally, Wellington Management Group LLP boosted its stake in Matador Resources by 44.8% during the fourth quarter. Wellington Management Group LLP now owns 1,065,291 shares of the energy company’s stock worth $60,572,000 after acquiring an additional 329,522 shares in the last quarter. 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.