Matador Resources (NYSE:MTDR) Upgraded at Wolfe Research

Wolfe Research upgraded shares of Matador Resources (NYSE:MTDR) from a peer perform rating to an outperform rating in a research note published on Friday morning, MarketBeat Ratings reports. The firm currently has $72.00 price target on the energy company’s stock.

Several other brokerages also recently commented on MTDR. Mizuho reduced their price target on shares of Matador Resources from $74.00 to $73.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. JPMorgan Chase & Co. reduced their target price on Matador Resources from $77.00 to $71.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Wells Fargo & Company lifted their price target on Matador Resources from $87.00 to $91.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Royal Bank of Canada reissued an “outperform” rating and issued a $70.00 price objective on shares of Matador Resources in a research note on Friday, December 6th. Finally, Truist Financial lowered their target price on Matador Resources from $86.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Matador Resources has an average rating of “Moderate Buy” and an average target price of $74.21.

Matador Resources Stock Up 1.7 %

Shares of Matador Resources stock opened at $59.07 on Friday. Matador Resources has a 12-month low of $47.15 and a 12-month high of $71.08. The firm has a market capitalization of $7.37 billion, a PE ratio of 7.82 and a beta of 3.24. The company has a quick ratio of 0.84, a current ratio of 0.88 and a debt-to-equity ratio of 0.71. The stock’s fifty day moving average is $56.30 and its 200-day moving average is $55.94.

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

Matador Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 15th were paid a dividend of $0.25 per share. This is a positive change from Matador Resources’s previous quarterly dividend of $0.20. The ex-dividend date was Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.69%. Matador Resources’s dividend payout ratio is 13.25%.

Insider Activity at Matador Resources

In related news, CEO Joseph Wm Foran acquired 2,000 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were acquired at an average cost 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 of the company’s stock, valued at approximately $2,331,410.18. The trade was a 4.97 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Glenn W. Stetson bought 1,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were bought at an average cost of $51.33 per share, with a total value of $51,330.00. Following the transaction, the executive vice president now directly owns 85,935 shares of the company’s stock, valued at approximately $4,411,043.55. This trade represents a 1.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 4,285 shares of company stock valued at $232,849. Insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Boston Trust Walden Corp bought a new stake in Matador Resources during the third quarter valued at about $51,788,000. Yaupon Capital Management LP lifted its position in shares of Matador Resources by 565.4% during the 3rd quarter. Yaupon Capital Management LP now owns 744,037 shares of the energy company’s stock worth $36,770,000 after purchasing an additional 632,218 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Matador Resources by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,734,819 shares of the energy company’s stock valued at $282,196,000 after purchasing an additional 356,506 shares during the period. Los Angeles Capital Management LLC acquired a new stake in Matador Resources in the 2nd quarter valued at approximately $18,747,000. Finally, FMR LLC increased its position in Matador Resources by 162.9% in the 3rd quarter. FMR LLC now owns 478,795 shares of the energy company’s stock worth $23,662,000 after buying an additional 296,663 shares during the period. 91.98% of the stock is currently owned by institutional investors and hedge funds.

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.