Matador Resources (NYSE:MTDR) Declares Dividend Increase – $0.31 Per Share

Matador Resources (NYSE:MTDR) declared a quarterly dividend on Tuesday, February 18th,Wall Street Journal reports. Stockholders of record on Friday, February 28th will be paid a dividend of 0.3125 per share by the energy company on Friday, March 14th. This represents a $1.25 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from Matador Resources’s previous quarterly dividend of $0.25.

Matador Resources has raised its dividend payment by an average of 89.5% per year over the last three years. Matador Resources has a dividend payout ratio of 11.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Matador Resources to earn $8.51 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 11.8%.

Matador Resources Price Performance

Shares of MTDR opened at $56.60 on Thursday. The firm has a market cap of $7.06 billion, a price-to-earnings ratio of 7.93 and a beta of 3.22. The stock has a 50 day moving average of $58.25 and a 200-day moving average of $55.78. 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 has a 52 week low of $47.15 and a 52 week high of $71.08.

Matador Resources (NYSE:MTDR) last issued its earnings results on Tuesday, February 18th. The energy company reported $1.83 EPS for the quarter, missing the consensus estimate of $1.88 by ($0.05). The firm had revenue of $970.37 million during the quarter, compared to analyst estimates of $967.10 million. Matador Resources had a return on equity of 19.08% and a net margin of 25.26%. As a group, analysts forecast that Matador Resources will post 8.53 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Mizuho decreased their target price on Matador Resources from $74.00 to $73.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Stephens boosted their price objective on Matador Resources from $78.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Truist Financial boosted their price objective on Matador Resources from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Morgan Stanley started coverage on Matador Resources in a research report on Friday, January 10th. They set an “equal weight” rating and a $78.00 price objective for the company. Finally, Wolfe Research upgraded Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 price objective for the company in a research report on Friday, January 3rd. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $75.14.

Insider Transactions at Matador Resources

In other news, EVP William Thomas Elsener bought 800 shares of the stock in a transaction on Friday, December 13th. The shares were purchased at an average price of $56.60 per share, for a total transaction of $45,280.00. Following the completion of the purchase, the executive vice president now directly owns 102,964 shares of the company’s stock, valued at $5,827,762.40. This trade represents a 0.78 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joseph Wm Foran purchased 2,000 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were bought at an average price of $55.18 per share, with a total value of $110,360.00. Following the purchase, the chief executive officer now owns 42,251 shares in the company, valued at $2,331,410.18. This represents a 4.97 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 2,980 shares of company stock valued at $165,988. Corporate insiders own 6.10% 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.