Matador Resources (NYSE:MTDR) Price Target Increased to $87.00 by Analysts at TD Cowen

Matador Resources (NYSE:MTDR) had its target price increased by TD Cowen from $85.00 to $87.00 in a research note released on Wednesday morning, Benzinga reports. They currently have a buy rating on the energy company’s stock.

A number of other analysts have also recently commented on MTDR. Wells Fargo & Company increased their price target on shares of Matador Resources from $85.00 to $88.00 and gave the company an overweight rating in a research note on Wednesday, July 17th. KeyCorp increased their price objective on shares of Matador Resources from $71.00 to $76.00 and gave the company an overweight rating in a research report on Monday, April 22nd. Stephens initiated coverage on shares of Matador Resources in a research report on Friday, June 21st. They issued an overweight rating and a $83.00 price objective on the stock. Benchmark lowered their price target on shares of Matador Resources from $71.00 to $62.00 and set a buy rating on the stock in a research report on Tuesday, April 23rd. Finally, Truist Financial lowered their price target on shares of Matador Resources from $91.00 to $86.00 and set a buy rating on the stock in a research report on Monday, July 22nd. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Matador Resources currently has an average rating of Moderate Buy and a consensus price target of $78.08.

Matador Resources Stock Performance

Shares of MTDR opened at $61.44 on Wednesday. Matador Resources has a 12 month low of $51.72 and a 12 month high of $71.08. The firm has a fifty day simple moving average of $60.27 and a 200 day simple moving average of $61.29. The stock has a market capitalization of $7.67 billion, a price-to-earnings ratio of 8.42 and a beta of 3.29. The company has a current ratio of 0.86, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41.

Matador Resources (NYSE:MTDR) last announced its earnings results on Tuesday, July 23rd. The energy company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.76 by $0.29. Matador Resources had a net margin of 29.01% and a return on equity of 21.12%. The business had revenue of $847.14 million during the quarter, compared to analysts’ expectations of $822.55 million. During the same quarter in the prior year, the company posted $1.42 earnings per share. The firm’s revenue was up 32.8% on a year-over-year basis. Research analysts forecast that Matador Resources will post 7.74 EPS for the current fiscal year.

Matador Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.20 per share. The ex-dividend date is Thursday, August 15th. This represents a $0.80 dividend on an annualized basis and a yield of 1.30%. Matador Resources’s payout ratio is 10.96%.

Insiders Place Their Bets

In related news, EVP Bryan A. Erman purchased 1,750 shares of Matador Resources stock in a transaction dated Friday, June 14th. The shares were bought at an average cost of $55.90 per share, for a total transaction of $97,825.00. Following the purchase, the executive vice president now owns 1,750 shares in the company, valued at approximately $97,825. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Matador Resources

A number of hedge funds have recently made changes to their positions in the stock. State of Michigan Retirement System boosted its stake in shares of Matador Resources by 2.9% in the 2nd quarter. State of Michigan Retirement System now owns 28,000 shares of the energy company’s stock valued at $1,669,000 after purchasing an additional 800 shares in the last quarter. Shaker Investments LLC OH boosted its stake in shares of Matador Resources by 16.4% in the 2nd quarter. Shaker Investments LLC OH now owns 31,829 shares of the energy company’s stock valued at $1,897,000 after purchasing an additional 4,484 shares in the last quarter. Raymond James Trust N.A. boosted its stake in shares of Matador Resources by 3.6% in the 2nd quarter. Raymond James Trust N.A. now owns 5,714 shares of the energy company’s stock valued at $341,000 after purchasing an additional 198 shares in the last quarter. Ceredex Value Advisors LLC boosted its position in Matador Resources by 0.5% during the 2nd quarter. Ceredex Value Advisors LLC now owns 271,851 shares of the energy company’s stock worth $16,202,000 after buying an additional 1,450 shares during the period. Finally, Retirement Systems of Alabama boosted its position in Matador Resources by 2.9% during the 2nd quarter. Retirement Systems of Alabama now owns 143,229 shares of the energy company’s stock worth $8,536,000 after buying an additional 4,098 shares during the period. 91.98% of the stock is currently owned by institutional investors and hedge funds.

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.