Matador Resources (NYSE:MTDR) Announces Quarterly Dividend of $0.03

Matador Resources (NYSE:MTDR) announced a quarterly dividend on Monday, February 22nd, Zacks reports. Shareholders of record on Wednesday, March 24th will be given a dividend of 0.025 per share by the energy company on Wednesday, March 31st. This represents a $0.10 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date is Tuesday, March 23rd.

Matador Resources has a dividend payout ratio of 6.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Matador Resources to earn $1.03 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 9.7%.

Shares of NYSE:MTDR traded up $1.16 on Tuesday, hitting $20.26. The company had a trading volume of 1,529,850 shares, compared to its average volume of 2,346,665. The company has a current ratio of 0.83, a quick ratio of 0.79 and a debt-to-equity ratio of 1.17. Matador Resources has a 52-week low of $1.11 and a 52-week high of $21.02. The business has a 50 day moving average of $16.94 and a 200 day moving average of $11.44. The company has a market cap of $2.37 billion, a PE ratio of -4.91, a PEG ratio of 0.37 and a beta of 4.80.

Several research firms recently commented on MTDR. BMO Capital Markets upgraded Matador Resources from a “market perform” rating to an “outperform” rating and set a $16.00 target price for the company in a research note on Thursday, December 17th. Truist upped their target price on Matador Resources from $13.00 to $16.00 in a research note on Wednesday, December 30th. Finally, MKM Partners lowered Matador Resources from a “buy” rating to a “neutral” rating and upped their price target for the stock from $17.00 to $19.00 in a research note on Tuesday, February 9th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $12.45.

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 in 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.

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