Matador Resources Company (NYSE:MTDR) Receives Consensus Rating of “Moderate Buy” from Brokerages

Matador Resources Company (NYSE:MTDR) has been given a consensus rating of “Moderate Buy” by the sixteen brokerages that are currently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $65.0769.

Several equities analysts have weighed in on the stock. UBS Group lifted their price objective on shares of Matador Resources from $50.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th. Mizuho lifted their price objective on shares of Matador Resources from $74.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. KeyCorp lifted their price objective on shares of Matador Resources from $61.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, April 2nd. Wells Fargo & Company lifted their price objective on shares of Matador Resources from $54.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 16th. Finally, Truist Financial upgraded shares of Matador Resources from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $60.00 to $67.00 in a research report on Tuesday, May 12th.

Matador Resources Price Performance

NYSE MTDR opened at $50.13 on Thursday. The stock has a market capitalization of $6.23 billion, a P/E ratio of 12.89 and a beta of 0.74. Matador Resources has a 1 year low of $37.14 and a 1 year high of $66.84. The business’s fifty day moving average is $56.26 and its two-hundred day moving average is $51.91. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.70 and a current ratio of 0.73.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.29. Matador Resources had a return on equity of 11.20% and a net margin of 14.41%.The company had revenue of $941.60 million for the quarter, compared to analysts’ expectations of $871.57 million. During the same quarter in the prior year, the company earned $1.99 earnings per share. The firm’s revenue was down 33.8% on a year-over-year basis. On average, research analysts forecast that Matador Resources will post 7.45 earnings per share for the current fiscal year.

Matador Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 8th were given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 3.0%. The ex-dividend date was Friday, May 8th. Matador Resources’s payout ratio is presently 38.56%.

Insiders Place Their Bets

In other news, CFO Christopher P. Calvert acquired 1,500 shares of the stock in a transaction on Friday, May 29th. The shares were purchased at an average cost of $53.24 per share, for a total transaction of $79,860.00. Following the transaction, the chief financial officer owned 41,500 shares in the company, valued at approximately $2,209,460. This trade represents a 3.75% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joseph Wm Foran purchased 4,675 shares of the stock in a transaction dated Wednesday, May 27th. The shares were bought at an average price of $52.36 per share, for a total transaction of $244,783.00. Following the completion of the acquisition, the chief executive officer owned 6,997 shares in the company, valued at $366,362.92. This represents a 201.34% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders have bought 11,907 shares of company stock worth $635,712. Corporate insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Matador Resources

Hedge funds have recently modified their holdings of the stock. Harbor Capital Advisors Inc. increased its stake in shares of Matador Resources by 184.9% in the fourth quarter. Harbor Capital Advisors Inc. now owns 30,836 shares of the energy company’s stock worth $1,309,000 after acquiring an additional 20,011 shares during the last quarter. Wedge Capital Management L L P NC increased its stake in shares of Matador Resources by 25.5% in the fourth quarter. Wedge Capital Management L L P NC now owns 78,035 shares of the energy company’s stock worth $3,312,000 after acquiring an additional 15,859 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new position in shares of Matador Resources in the third quarter worth $61,615,000. Neo Ivy Capital Management acquired a new position in shares of Matador Resources in the third quarter worth $871,000. Finally, Aquatic Capital Management LLC increased its stake in shares of Matador Resources by 264.8% in the third quarter. Aquatic Capital Management LLC now owns 111,727 shares of the energy company’s stock worth $5,020,000 after acquiring an additional 81,102 shares during the last quarter. 91.98% of the stock is owned by institutional investors and hedge funds.

Matador Resources Company Profile

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.