Matador Resources (NYSE:MTDR) Price Target Raised to $91.00

Matador Resources (NYSE:MTDR) had its price objective hoisted by Wells Fargo & Company from $87.00 to $91.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the energy company’s stock.

Several other research analysts have also commented on MTDR. JPMorgan Chase & Co. lowered their price target on Matador Resources from $77.00 to $71.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Royal Bank of Canada restated an “outperform” rating and set a $70.00 target price on shares of Matador Resources in a report on Friday, December 6th. Stephens boosted their price target on shares of Matador Resources from $78.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. KeyCorp lowered their price objective on shares of Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Finally, Benchmark reaffirmed a “buy” rating and set a $62.00 target price on shares of Matador Resources in a research note on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.38.

Matador Resources Trading Down 1.6 %

NYSE MTDR opened at $52.59 on Tuesday. 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 has a market capitalization of $6.56 billion, a P/E ratio of 6.97 and a beta of 3.26. The firm’s 50-day moving average is $55.56 and its two-hundred day moving average is $56.17. Matador Resources has a 12 month low of $47.15 and a 12 month high of $71.08.

Matador Resources (NYSE:MTDR) last released its quarterly earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.11. The business had revenue of $770.20 million for the quarter, compared to the consensus estimate of $836.69 million. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The business’s revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.86 EPS. On average, sell-side analysts anticipate that Matador Resources will post 7.49 earnings per share for the current year.

Matador Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 15th were given a dividend of $0.25 per share. This is a boost from Matador Resources’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a dividend yield of 1.90%. The ex-dividend date was Friday, November 15th. Matador Resources’s payout ratio is 13.25%.

Insider Buying and Selling

In related news, EVP William Thomas Elsener acquired 800 shares of Matador Resources stock in a transaction dated Friday, December 13th. The stock was acquired at an average price of $56.60 per share, for a total transaction of $45,280.00. Following the transaction, the executive vice president now owns 102,964 shares of the company’s stock, valued at $5,827,762.40. This represents a 0.78 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Glenn W. Stetson bought 1,000 shares of the stock in a transaction dated Wednesday, October 30th. The stock was bought at an average price of $51.33 per share, with a total value of $51,330.00. Following the acquisition, the executive vice president now owns 85,935 shares in the company, valued at approximately $4,411,043.55. This represents a 1.18 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 4,285 shares of company stock worth $232,849. Corporate insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Matador Resources

Institutional investors and hedge funds have recently bought and sold shares of the stock. Franklin Resources Inc. increased its position in shares of Matador Resources by 12.0% during the third quarter. Franklin Resources Inc. now owns 1,008,421 shares of the energy company’s stock worth $54,122,000 after purchasing an additional 107,827 shares in the last quarter. Loomis Sayles & Co. L P increased its position in Matador Resources by 16.8% during the third quarter. Loomis Sayles & Co. L P now owns 455,662 shares of the energy company’s stock worth $22,519,000 after buying an additional 65,487 shares during the period. HITE Hedge Asset Management LLC purchased a new stake in Matador Resources in the third quarter valued at approximately $10,526,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Matador Resources by 4.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,434,926 shares of the energy company’s stock valued at $70,914,000 after acquiring an additional 57,254 shares during the period. Finally, Amalgamated Bank grew its position in shares of Matador Resources by 25.5% during the second quarter. Amalgamated Bank now owns 73,025 shares of the energy company’s stock worth $4,352,000 after acquiring an additional 14,850 shares during the last quarter. 91.98% of the stock is owned by hedge funds and other institutional investors.

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.